THE government has released P1.2 billion to be spent on the needs of indigent senior citizens, the Department of Budget and Management(DBM) said on Tuesday.
The fund released to the Department of Social Welfare and Development (DSWD) will cover elderly indigents’ social pension.
The DBM said that under Section 5 of Republic Act (RA) No. 9994 or the Expanded Senior Citizens Act of 2010, indigent senior citizens could receive a monthly stipend worth P500 from the government.
RA 9994 defines indigent senior citizens as “any elderly who is frail, sickly or with disability, and without pension or permanent source of income, compensation or financial assistance from his/her relatives to support his/her basic needs, as determined by the DSWD in consultation with the National Coordinating and Monitoring Board.”
The P1.2-billion fund charged against this year’s national budget is seen to benefit 200,000 senior citizens.
The DSWD has been allocated P5.96 billion for the implementation of the social pension for indigent senior citizens program this year. This pension fund will support a total of 939,609 indigent senior citizens in 2015, according to the DBM.
“We crafted the 2015 budget to prioritize the poor and the vulnerable, including indigent senior citizens. This release will allow us to address the basic needs of our elderly indigents, who do not otherwise have the resources to support themselves,” Budget Secretary Florencio B. Abad said.
“As our economy expands, Filipinos young and old should benefit directly from our reforms. This is exactly what inclusive growth is all about,” Abad added. SFM
Read more: http://business.inquirer.net/191314/dbm-releases-p1-2-billion-for-indigent-senior-citizens-pension#ixzz3ZnOpUoFo
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