GSIS to start release of Christmas cash gifts
The Government Service Insurance System (GSIS) is set to bring festive cheer to over 300,000 old-age and disability pensioners this December. Starting December 6, GSIS will disburse more than P3.47 billion in Christmas cash gifts, a significant financial boost for many during the holiday season.
According to GSIS President and General Manager Wick Veloso, qualified pensioners will receive an amount equivalent to one month’s pension, capped at a maximum of P10,000. The funds will be conveniently credited to the pensioners’ GSIS eCard.
Eligibility for this year’s Christmas cash gift includes GSIS old-age and disability pensioners who are receiving their regular monthly pensions and are alive as of November 30, 2023. Veloso emphasized the inclusivity of the program, noting that even pensioners with suspended pensions due to non-compliance with the Annual Pensioners Information Revalidation (APIR) as of December 31, 2023, will still receive their cash gifts once they fulfill the requirements.
However, certain groups are not eligible for this year’s Christmas cash gift. This includes survivorship pensioners, dependent pensioners, pensioners under RA 7699 (Portability Law), those receiving pro-rata pensions, and new pensioners from 2019 to 2023 who availed of immediate pension and 18-month cash payments under Republic Act 8291. These groups will become eligible for the cash gift five years post-retirement.
Additionally, retirees who opted for a five-year lump sum and will resume their regular monthly pension after December 31, 2023, are also excluded from this year’s benefit.
This move by GSIS reflects its commitment to supporting its members and providing timely financial assistance, especially during the festive season, reaffirming its role in enhancing the welfare of government service pensioners.