SSS pensioners get 13th month pay on Friday, Dec. 6, 2019

The 13th-month pay of Social Security System pensioners will be released on Friday, December 6, the pension fund has announced.

In a statement, the SSS said more than 2.83 million pensioners would receive their pension after over P12.71 billion worth of funds had been released.

“We have already requested our partner banks to credit the 13th-month pension to the respective savings accounts of our pensioners on or before December 6 so that they could enjoy the money in time for the holiday season,” SSS President and Chief Executive Officer Aurora Ignacio said.

“The checks were released and mailed as early as November 26 so that our pensioners will receive it on time for the Christmas season," she added.

"We are hoping that we will eventually shift 100 percent of our pensioners to through-the-bank system for faster, convenient and more secure way of receiving their benefits from the SSS,” Ignacio said.

The amount released for the 13th-month pension this year was higher by 7.6% than last year’s P11.81 billion after the number of pensioners increased.

According to the SSS, the amount of the 13th-month pension is computed based on the basic monthly pension excluding the dependent’s pension, if any. —Julia Mari Ornedo/NB, GMA News