GSIS Christmas Cash Gift for Pensioners Policy

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GSIS NO. 239: GSIS Christmas Cash Gift for Pensioners Policy

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Title Supreme Court: GSIS Christmas Cash Gift for Pensioners Policy

Law: Gsis No. 239

Decision Date: Nov 22, 2004

Regular pensioners are granted a Christmas Cash Gift equivalent to one month's pension, capped at P12,600, provided they are qualified and living as of December 15, 2004, while certain categories of pensioners are excluded from this benefit.

regular pensioners

A

Ineligibility for Christmas Cash Gift

Not entitled to the cash gift are:
- Basic Survivorship Pensioners and Dependent Pensioners
- Deferred annuitants who have received lump sum guaranteed pensions and are within the guaranteed period, resuming monthly pensions after December 15, 2004.
- Separated Members who left service before the age of 60 and will start regular monthly pensions after December 15, 2004.

Amount of the Christmas Cash Gift

The gift equals one month’s pension.
The maximum amount is capped at P12,600.00.

Financial Provisions and Fund Requirements

Projected total number of beneficiaries: 130,684 (comprising old-age, retirement, and disability pensioners).
Average amount per recipient: P4,960.
Total estimated fund needed: P623 million.

Adoption and Implementation

The resolution was adopted on November 22, 2004, during Board Meeting No. 29.
The grant is confirmed as approved under GSIS Resolution No. 239.

END