Hontiveros submits costs seeking P1,500 regular monthly pension increase for all elderly people

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Senator Risa Hontiveros has filed a step seeking to increase the pension of senior people in the nation. In filing Senate Bill No. 141 or the proposed “Lingap Para Kay Lolo at Lola Act,” Hontiveros sought to increase the month-to-month pension of all senior citizens, entitling them to get P1,500 monthly to augment their everyday subsistence and other medical requirements, offered the economic obstacles being experienced in the nation and in the world today. The bill looks for to amend specific provisions in the “Expanded Senior Citizens Act” or Republic Act No. 9994. Hontiveros said in the explanatory note of her bill.

“In the Philippines, and in lots of nations worldwide, growing old is becoming one of the most significant financial difficulties facing both the specific and society, as a whole,”

“The social pension presently gotten by our indigent seniors reduces the financial difficulties they suffer on a day-to-day basis by supplementing their budget plan for food and medication for their declining health. However, it’s general effect is limited by how the pension plan is designed by excluding a large portion of susceptible senior, and by the measly quantity of P500 the beneficiaries receive monthly,” Hontiveros explained. The senator said increasing the quantity of social pension for the elderly would likewise narrow the pension protection space as nearby countries such as Thailand, Brunei, Timor-Leste and Vietnam are presently carrying out similar tax-financed schemes to cover all citizens of a defined age.

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