Gov't sets P1.2-B pension for poor elderly

ABS-CBN News

Posted at Jul 28 2011 12:07 PM | Updated as of Jul 28 2011 08:07 PM

MANILA, Philippines - The Aquino administration has earmarked P1.2 billion for the payment of monthly stipend to indigent senior citizens next year.

The amount is 38% higher than the P871 million allotted for 138,960 beneficiaries this year.

With next year's higher budget, beneficiaries are expected to grow to 198,970 indigent senior citizens, who will receive P500 a month for their basic needs as stipulated under the Expanded Senior Citizens Act of 2010.

The law states that indigent senior citizens who are frail, sick, disabled and without any source of income nor support from families will receive social pension from government.

Meanwhile, aside from the pension for senior citizens, the government is expanding the Pantawid Pamilyang Pilipino Program (4Ps) to cover three million indigent households.

The budget department noted that next year’s coverage increased from 2.3 million beneficiaries this year. Some P39.5 billion was allotted for the program.

The "4Ps" aims to improve the lives of its beneficiaries by investing in human capital, such as ensuring that children of poor families are given an equal chance to go to school and become productive citizens in the future.