SSS releases ₱12.71 billion for pensioners' 13th month

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Metro Manila (CNN Philippines, December 5) — Pensioners are set to receive their 13th month benefit from the Social Security System on Friday.

The state pension fund in a statement on Thursday said it has released more than ₱12.71 billion for the benefit of more than 2.83 million Filipinos.

“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.

According to the SSS, the total amount released this year is 7.6 percent higher than last year, since the number of pensioners increased by 190,000.

Majority of the pensioners will receive their 13th month thrugh their bank accounts while 14,000 of them will get check payments. SSS assured that the checks were released and mailed as early as November 6 so retirees can get the money in time for the Christmas season. The agency is working on shifting the remaining pensioners to the bank system.

Under the law, all pensioners, including retirees, beneficiaries and deceased members, and those with permanent disability are entitled to a 13th month equivalent to a basic monthly pension.