The Government Service Insurance System (GSIS) has approved to increase the pension of old–age and disability pensioners effective January 1, 2009. The pensioners will receive an 8.33% increase over the amount they are receiving at present
Those who would be eligible for the increase, GSIS said, are those pensioners included in Republic Act 8291 or the 1997 GSIS Act, Presidential Decree 1146 or the 1977 revised GSIS Act and RA 660 or the amendments to Commonwealth Act 186. GSIS added that they should also be receiving their regular monthly pensions, qualified to the corresponding pensions, and living by Jaanuary 1, 2009.
Old-age or retirement pensioners, including joint-life retirees and disability pensioners, are also entitled to a P600.00 increase in the average monthly pension benefit, GSIS said.
However, it was pointed out that basic survivorship and dependent petitioners, joint-life beneficiaries and retirees who received their guaranteed pensions in advance in the form of lump sums and those who are still in their guaranteed periods, are not yet qualified to get the increase.
Meanwhile, Garcia said that new retirees who availed of 18 times the basic monthly pension as lump sum plus the immediate monthly pension would only be entitled to the annual pension increase after five years of being regular pensioners.
With reports from ANC
