GSIS to release P4-B cash gift to pensioners

The state-run pension fund Government Service Insurance System (GSIS) will release nearly P4 billion in Christmas cash gifts this year, expanding coverage for the first time to pro-rata pensioners and retirees.

- By MARCO LUIS BEECH

Citing that the cash gifts will automatically be credited to the ATM of pensioners, GSIS president and CEO Jose Arnulfo Veloso said that an additional 14,992 pro-rata and Portability Law pensioners who were previously excluded from the benefit, will be included this year.

"We want our pensioners to feel valued and supported, especially during the Christmas season. That is why we expanded the coverage of the Christmas cash gift," he said.