MANILA, Philippines — The state-run pension fund Government Service Insurance System (GSIS) has set aside P3.2 billion to give away Christmas cash gifts worth at least P10,000 each to pensioners starting Dec. 1. In a board resolution published on Sunday, the GSIS said that pensioners who received a cash gift of above P10,000 last year will receive this year one month’s worth of current pension not exceeding P12,600. The GSIS said old-age/retirement and disability pensioners were entitled to this year’s cash gift. Basic survivorship and dependent pensioners will not get the cash gift. The GSIS board chaired by former Supreme Court Chief Justice Lucas Bersamin approved this year’s budget for the annual Christmas cash gift — a tradition since 1974 — on Oct. 26.

Source: Philippine Daily Inquirer November 15, 2021 01:22 UTC