GOOD news for senior citizens.
They need not have to wait until they reach a hundred years old before receiving P100,000 from the government.
The Senate on Monday, September 25, 2023 approved on third and final reading a bill seeking to expand the coverage of the Centenarians Act of 2016 by distributing the P100,000 cash gift much earlier to senior citizens aged 80, 90 and 100.
Under Senate Bill No. (SBN) 2028 or Expanding the Coverage of the Centenarians Act, Filipino senior citizens living in the Philippines or abroad shall be granted P10,000 upon reaching 80 years old, P20,000 upon reaching 90 years old and P100,000 upon reaching 100 years old.
The bill was sponsored by Sen. Imee Marcos and introduced by Senate Minority Leader Aquilino “Koko” Pimentel III. Marcos pegged life expectancy among Filipinos at 79 years for men and 83 years old for women.
She said Pimentel noted that many Filipinos do not reach the age of 100 and are unable to enjoy the “benefits and privileges of the centenarians which award P100,000 cash to every Filipino centenarian.”
“The rising cost of living and healthcare expenses has made it very difficult for our senior citizens to afford basic necessities…it is hoped that more of our elderly population may be able to benefit from the Centenarians Act and that they may be inspired to further prolong and enjoy their lives even beyond a century,” Marcos said.
The bill also proposes that the stated amounts be adjusted for inflation after one year from the effectivity of the law. The adjustment, to be determined by the National Economic and Development Authority, will be based on the average annual inflation in the preceding three years.
Under the bill, the Philippine Statistics Authority, in coordination with the Departments of Interior and Local Government, Information and Communications Technology and the local government units, shall establish a data management system recording relevant information of individuals covered by the Act.
Sen. Ramon Bong Revilla, Jr., co-sponsor of SBN 2028, said the bill is a testimony to the special Filipino culture of providing for the elderly.
Sen. Win Gatchalian, also a co-sponsor of the bill, said the passage of the measure into law would motivate senior citizens to live longer. He said the P100,000 cash gift, which will be equally distributed in three tranches to octogenarians, nonagenarians and centenarians will help pay their living expenses, medicines, healthcare and other necessities.
