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MANILA - The Government Service Insurance System on Wednesday said nearly half of the disabled and retired civil servants are poised to enjoy a higher pension of P5,000.
In a statement, GSIS president Robert Vergara said the approved minimum pension rate will be received by some 57,000 old-age and disability pensioners starting January next year in accordance with the increase promised by President Benigno Aquino III in his 3rd State-of-the-Nation Address.
Before January, the GSIS will continue to adjust the monthly pensions by applying to old age and disability pensioners the regular 1.5 percent increase based on Board Resolution 229 dated December 8, 2009.
"Thereafter, all old-age and disability pensioners still entitled to less than P5,000 will receive the new minimum monthly pension of P5,000," Vergara said.
Pensioners receiving over P5,000 but less than P8,000 will receive an additional P200 every month.
“Roughly 57,000 pensioners will enjoy the new minimum pension while another 50,000 will qualify for the P200 increment,” Vergara said.
With the pension increase, the actuarial life of the Social Insurance Fund will be reduced by approximately one year from 2046 to 2045, he said.
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