For an ordinary senior citizen who is already retired from private or government service, receiving the monthly pension is what one always looks forward to, regardless of how much the amount because, finally, it is tax-free and with no other deductions.
I am not an exemption as I am a senior citizen as well. However, I am still gainfully employed in government service.
Getting old is really not bad, simply because we have more time for other interests, hobbies and passion. Though our biological clock may have put a toll on other physical activities like our favorite sports, we can still do other less strenuous activities, which can contribute to our health and general well-being.
A month ago, a friend called me up for a very personal reason. I knew the call was quite urgent and important since I knew her well. She asked me why she did not receive her October pension on the usual schedule. Of course, I have a ready answer.
The Social Security System (SSS), since October 2020, has implemented a new schedule for the disbursement of monthly pensions using the Philippine Electronic Fund Transfer System and Operations Network (PESONet) and other checkless disbursement channels.
The new schedule covers pensioners receiving their pensions through PESONet participating banks, e-wallets, and the Development Bank of the Philippines (DBP) accredited Remittance Transfer Company/Cash Payout Outlet—MLhuillier.
Under the new schedule, pensioners with dates of contingency from the first to the 15th day of the month will receive their pensions on the first day of the pension month (first batch), while those with dates of contingency from the 16th to the last day of the month will receive their pensions on the 16th day of the pension month (second batch).
If the credit date falls on a Saturday, Sunday, or a holiday, the pension will be credited to their accounts on the last working day before the Saturday, Sunday, or holiday.
The SSS has already released all pensions for October 2020 through PESONet and other checkless disbursement channels as well as through the old disbursement method for non-PESONet participating banks.
For releases through the new disbursement method, the SSS through DBP credited the funds to PESONet participating banks and other checkless disbursement channels last October 1 for the first batch and October 16 for the second batch, as scheduled.
When I asked what her contingency date is, my friend told me that it’s usually on the 17th. Well, she belongs to the second batch.
Just like what we have been advising our pensioners who encountered the same problems, it is best that they contact their respective depository banks should there be any delay in crediting their pension as the SSS has already disbursed the funds. Better yet, get bank statements or inquire through online banking services of the bank to check on the details of their account crediting.
True enough, just a few days ago, I received another call from her to say thank you. She said I was right after all.
However, when she asked me another question as to when will the December and 13th month pension be released, I told her, just read my column in forthcoming issues.
God bless everyone!
Aurora C. Ignacio is SSS president and chief executive officer.
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