GSIS President and General Manager Robert G. Vergara said a total of Php2.6 billion has been earmarked for this benefit, higher by eight percent than last year’s allocation of Php2.4 billion.
Pensioners whose 2014 cash gift is above Php10,000 are entitled to receive one-month pension not exceeding Php12,600.
Those whose 2014 cash gift is Php10,000 and below will be granted their one-month pension not exceeding Php10,000.
Retirees who availed of five-year lump-sum retirement benefit and have become pensioners after 31 December 2014 will get their cash gift for the first time this year in an amount equivalent to their one-month pension up to a maximum of Php10,000.
Pensioners living abroad and those in the Autonomous Region of Muslim Mindanao who are on suspended status as of 31 December 2015 are also eligible to receive this benefit provided they activate their status not later than 30 April 2016. They will receive their cash gift not later than 31 May 2016.
Survivorship and dependent pensioners, and retirees who will be receiving their regular monthly pension after 31 December 2015 are not entitled to receive the cash gift.
Also ineligible to receive the cash gift are new retirees from 2011 to 2015, as they will only receive their first cash gift five years after their retirement date; members who were separated from the service from 2006 to 2015 before reaching age 60, as they will be entitled to the benefit five years after regularly receiving their pension; pensioners under Republic Act 7699 (Portability Law); and pensioners receiving pro-rata pension.
Questions on the grant of cash gift may be directed to the GSIS Contact Center at 847-4747.
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