Issue of December 3, 2017

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SSS releases 13th month, December pension
by Press Release

State-run Social Security System said more than 2.2 million pensioners will start to receive their 13th month and December pension starting Dec. 1 until Dec. 8.

SSS President and Chief Executive Emmanuel F. Dooc said the pension fund has already released the amount to the respective partner-banks starting Nov. 15 to give the banks ample time to release the 13th month and December pension to SSS pensioners.

Some disbursing banks have released the 13th month and December pension as early as Nov. 15.

“We have already asked the banks to release the 13th month pension not later than Dec. 8 while we leave to the discretion of the disbursing banks if they will release the regular monthly pension for December along with the 13th month pension or to release it based on the bank’s usual schedule of the release of monthly pension,” Dooc said.

SSS also reminded the pensioners that the basis of the 13th month pension is the basic monthly pension of a pensioner excluding the dependent’s pension, if any.

In 2016, SSS released P7.2 billion for the 13th month pensions of its members.

The 13th month pension is one of the benefits a retiree from a private institution is supposed to receive.

The monthly pension of retirees is paid through the members designated bank.

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