SSS releases P10B for December, 13th month bonuses of pensioners

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Saturday, December 10, 2011


THE Social Security System (SSS) said it already released nearly P10 billion to its conduit banks for the December pensions and 13th month bonuses of its pensioners.

SSS president and chief executive officer Emilio de Quiros Jr., in a statement, said its partner-banks have been asked to immediately credit the money to the pensioners’ accounts so the later can withdraw the benefits ahead of their regular schedule.”

He added that about 99 percent of pensioners are enrolled in the Mag-Impok sa Bangko (MSB) program, which enables them to withdraw pensions through automated teller machines (ATM). SSS has around 114 accredited banks under the MSB program.

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“It is SSS tradition to double the amount of pensions for the last month of the year in time for the Christmas celebration," De Quiros said. “Yearend pensions this year were also seven percent higher than the P9.32B in 2010.”

The December and 13th month pensions include P5.51B for retirement;
P4.1 billion for dependents of deceased members; P210.01-million for partial disability and P165.31 billion for total disability.

SSS also sent out as early as November the December and 13th month checks of about 17,000 pensioners who receive monthly pensions via mail, De
Quiros disclosed. (CGC)

Published in the Sun.Star Bacolod newspaper on December 10, 2011.

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