Senator Risa Hontiveros has filed a measure seeking to increase the pension of senior citizens in the country.
In filing Senate Bill No. 141 or the proposed “Lingap Para Kay Lolo at Lola Act,” Hontiveros sought to increase the monthly pension of all seniors, entitling them to receive P1,500 monthly to augment their daily subsistence and other medical needs, given the economic challenges being experienced in the country and in the world today.
The bill seeks to amend certain provisions in the “Expanded Senior Citizens Act” or Republic Act No. 9994.
“In the Philippines, and in many countries around the world, growing old is becoming one of the biggest economic challenges facing both the individual and society, as a whole,” Hontiveros said in the explanatory note of her bill.
“The social pension currently received by our indigent senior citizens mitigates the financial difficulties they suffer on a daily basis by supplementing their budget for food and medication for their declining health. However, it’s overall impact is limited by how the pension scheme is designed by excluding a large portion of vulnerable elderly, and by the measly amount of P500 the beneficiaries receive monthly,” Hontiveros pointed out.
The senator said increasing the amount of social pension for the elderly would also narrow the pension coverage gap as neighboring countries such as Thailand, Brunei, Timor-Leste and Vietnam are currently implementing similar tax-financed schemes to cover all citizens of a specified age.
Citing a study on aging in the Philippines conducted by the University of the Philippines Population Institute, the lawmaker noted that over half of the country’s senior citizens live in households that are also poor or have difficulty meeting expenses.
She also noted how pensions are often used in augmenting household incomes and in developing the skills of the younger generation.
Hontiveros said studies also show that universal pensions contribute to the development outcomes such as lowering the number of child workers, increasing school enrolment and encouraging families to finance livelihood activities.
“Growing old comes with a variety of challenges, from physical to economic. And growing old in a country where poverty is prevalent, these challenges not only reinforce each other but are also glaringly magnified,” she said.
“As a way of showing our gratitude to our lolos and lolas, it is but right for succeeding generations to ensure that they grow old with honor and dignity. And for these, the passage of the bill is earnestly sought,” the senator stressed.