About 400 pensioners adversely affected by the closure of LBC Development Bank should open new accounts in other banks to avoid delays in receiving their monthly benefits, the Social Security System advised.
Emilio de Quiros Jr., SSS president and chief executive, said in a statement that until they open new accounts, pensioners would receive their October benefits in checks sent to their home addresses.
“As soon as the affected pensioners open a new bank account, they must go to the SSS to inform us so we can encode the changes at once,” De Quiros said. “We urge them to do it before the SSS starts the processing of November pensions on October 5.” Ronnel W. Domingo
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