SSS to release pensions via PESONet starting October, drops issuance of checks

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SSS to release pension via PESONet starting October, drops issuance of checks

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MANILA - The Social Security System on Thursday said it would release pensions through PESONet and eliminate distribution through checks to expedite monthly crediting.

Pensioners can choose to receive their monthly payout through their accounts in any PESONet participating bank and e-wallet provider such as PayMaya or arrange cash pick-up via DBP cash padala through M Lhuillier, the SSS said in a statement. "To receive pensions through PESONet participating banks, pensioners must enroll their respective single savings accounts to the SSS. For e-wallets, they must enroll their mobile number linked to their account, while for RTC/CPO, they must also register their mobile number where they prefer to receive the reference number," the SSS said.

Members can check the list of PESONet participating banks on the official website of the Bangko Sentral ng Pilipinas.

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will PESONet impose fee/transaction charges on pensioners?

Paki-ayos naman po ang headline. Ang intindi ng mga tao e literal na sa PesoNet na makukuha ang pension staring october2020. Sana ang headline ay ganito: 'SSS to use PesoNet to transfer pensions to banks'.

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