Old - age and incapacity retired people will make the most of their Christmas money presents from the Government Service Insurance System (GSIS) beginning December 15,2019, the state annuity subsidize declared yesterday.
In an announcement, GSIS executive and acting president Rolando Macasaet said the benefits finance has distributed P3.12 billion for the arrival of Christmas money presents to its retired people this year.
"We realize that our 324,348 beneficiaries are anticipating the GSIS Christmas money present which they affectionately call their Christmas reward. Accordingly, we ensured that it will be credited to their e-card a couple of days before Christmas Day so they can spend it in commending this happy event with their families," Macasaet included.
Dynamic mature age and inability retired people who are accepting their normally month to month benefits are as yet living as of November 30,2019 are qualified for get the money blessing, as indicated by the GSIS.
The state annuity finance said suspended retired people as of November 30,2019 are likewise qualified to get the blessing gave they actuate their status at the latest April 30,2020.
"Retired people whose 2018 Christmas money present was above P10,000 will get a sum proportional to one month current benefits up to a limit of P12,600," it said.
"Then again, those whose 2018 Christmas money present was P10,000 and beneath will be allowed one month current benefits up to a limit of P10,000," it included.
Not qualified to get the money blessing are fundamental survivor transport beneficiaries, retired people under Republic Act (RA) 7699 (Portability Law) and those getting star rata annuity.
Retirees who got their development ensured annuity as knots entireties, and who will continue their standard month to month benefits after December 31,2019, are likewise not qualified for the advantage, as indicated by the GSIS.
Moreover, it said new retirees from 2015 to 2019 who benefited themselves of prompt annuity under RA 8291 won't yet get the money blessing this year.
The state annuity subsidize included that individuals who surrendered or isolated from taxpayer supported organization from 2006 to 2019 preceding arriving at age 60,and who began getting their normal month to month benefits somewhere in the range of 2015 and 2019, will get the money blessing once they have been ordinary retired people for at any rate five years.