spot_img
29.2 C
Philippines
Wednesday, October 9, 2024

Budget for indigent seniors’ pension raised to P49.8b

The national government has allocated a total of P49.8 billion for the Social Pension for Indigent Senior Citizens (SPISC) under the 2025 National Expenditure Program (NEP), according to the Department of Budget and Management.

The DBM said the amount shall ensure the continuous implementation of the Department of Social Welfare and Development’s (DSWD) social protection program for Filipino senior citizens.

- Advertisement -

There are about 9.22 million senior citizens in the country, those age 60 and above, according to the 2020 census of the Philippine Statistics Authority (PSA).

“Acknowledging the importance of caring for our elderly – not just as a moral imperative but as a reflection of our nation’s values and commitment to an inclusive society – the Social Pension for Indigent Senior Citizens will receive a budget of P49.8 billion for 4,085,066 indigent senior citizens who will receive a monthly allowance of P1,000 to supplement their daily living and medical expenses,” the President said in his Budget Message.

“We are only following the President’s directive to provide care and concern for our elderly. It is only right that these programs have enough funds so that our grandparents can get the benefits that are meant for them,” Budget Secretary Amenah  F. Pangandaman said.

Qualified beneficiaries of the SPISC Program started receiving a monthly stipend of P1,000 this year, following the enactment of the Republic Act (R.A) No. 11916, which doubled their monthly pension from P500.

Meanwhile, with the implementation of the expanded Centenarians Act, a total of P3 billion has been set aside to fund the P100,000 cash gift for Filipinos who reached the age of 100, as well as the additional P10,000 cash benefit to all Filipinos aged 80, 85, 90, and 95.

To recall, President Bongbong Marcos signed into law in February 2024, R.A. 11982, expanding the coverage of R.A. 10868, to grant benefits to Octogenarians and Nonagenarians.

“As emphasized by the President in his latest SONA, the proposed National Budget for FY 2025 was crafted with utmost care, diligence, and meticulous attention. And we expect our proposed budget will be adhered to as closely as possible. This is to ensure that programs like these will continue to serve our kababayans,”  Pangandaman said.

LATEST NEWS

Popular Articles