5 Centenarians in Cebu Get P100T Under GSIS “Milestone” Benefits

Five centenarians in Cebu, or those who have reached the age of 100 years, received P100,000 in cash under the Government Service Insurance System (GSIS) “Milestone” Benefit Program.

GSIS-Cebu Branch Manager Vilma Fuentes said the program provides additional benefits to old-age pensioners who turned 90, 95 and 100 years old in September last year.

“Those who turned 100 years old in September 2015 received P100,000 and those who turned 95 years old got P50,000 and P20,000 for those who turned 90 years old,” said Fuentes during a recent forum of the Association of Government Information Officers – Philippine Information Agency (AGIO-PIA 7) that tackled the latest updates on the agency’s programs and services.

The cash incentive was on top of the additional one-month pension or P10,000 amount whichever is lower under its One-Time Benefit Program given by the agency to old-age pensioners.

According to Fuentes, both the One-Time Benefit Program and Milestone Benefit Program were given due to the GSIS good financial performance in 2014.

Because of the agency’s good financial standing, it s in a position to enhance the benefits to the old-age pensioners, who we believe are the most vulnerable sector, said Fuentes.

Fuentes, however, said after September 2015, those who turned 100 years old and beyond can still receive but this time, the amount is lower at P50,000 while those who turned 95 years old and above but below 100 can get P30,000 and those who turned 90 years old and above but below 95 were given P20,000.

The Milestone Benefit Program is ongoing as Fuentes said the Cebu Branch caters an average of 10 to 12 beneficiaries a day.

“An estimated 3,000 to 4,000 old-age pensioners in Cebu benefited from both the One-Time Benefit and Milestone Benefit programs,” said Fuentes.

The GSIS-Cebu manager said the reserve for pension fund of GSIS will last 38 years and growing not yet taking into account the investments and assets worth in trillions.

“Even the youngest member of GSIS today can still receive his or her pension when the time comes,” assured Fuentes. (rmn/fcr/PIA7/Musel Bonife, PIT ABcom Intern)