The government program that grants a P100,000 one-time cash gift to Filipinos who reached the age of 100 received a P76-million augmentation under this year's national budget.
Thus, said Makati City 2nd district Rep. Luis Campos Jr. on Monday, Jan. 2, a day after the P5.268-trillion national budget for 2023 was officially rolled out. Earmarked for the centenarian’s cash gift for this year is P254 million.
“We in Congress are absolutely determined to sustain the annual funding required for the P100,000 cash gift of every Filipino who turns 100 years old,” Campos, House Appropriations Committee vice chairperson, said.
“In fact, since 2017, we’ve set aside an aggregate of over P1 billion, including the sum allocated for this year, to pay for the cash grant of more than 10,000 Filipino centenarians,” Campos said.
He said the P254 million earmarked for the centenarians' cash gift in the 2023 national budget or General Appropriations Act (GAA) is 43 percent higher than last year’s P178 million.
Under the Centenarians Law of 2016, or Republic Act (RA) No. 10868, every Filipino who reaches 100 years old, whether residing in the Philippines or abroad, is entitled to receive the P100,000 tax-free gift plus a congratulatory letter from the President.
Funding is lodged in the annual budget of the Department of Social Welfare and Development (DSWD), which pays out the gift.
The gift is given on top of all other rewards or benefits that centenarians may receive from their respective local governments or from other sources.
In Makati City, for instance, the local government pays on its own a separate P100,000 one-time cash gift to every centenarian resident.