Senate OKs 300 percent pension hike for veterans

The Senate on Monday approved a bill which increased the monthly old-age pensions of World War II, Korean War, and Vietnam War veterans by 300 percent.

Senate Bill No. 1766 thus increased the pensions of 6,000 eligible living senior veterans from P5,000 to P20,000.

Under the bill, living senior veterans who had not been receiving a pension from the Armed Forces of the Philippines (AFP) would be entitled to the P15,000 increase in the monthly old-age pension.

Senator Gregorio Honasan, principal author and sponsor of the bill, said the increase was not transferable to any member of a veteran's family or dependents. And in the event of the death of the senior veteran, the pension of the surviving spouse would remain at P5,000.

Honasan added that the initial implementation, which would require a total budget of P1.18 billion, would be charged against the current year’s budget of the Philippine Veterans Affairs Office (PVAO), while the required budget for the succeeding years would be included in the annual General Appropriations Act (GAA).

The last increase given to these senior veterans was in 1994, almost two and half decades ago when the monthly old-age pension of veterans was only P1,000.

Honasan said the passage of the measure was a fitting tribute and an act of gratitude to the World War II veterans, the Philippine Expeditionary Forces veterans of the Korean War, and the Philippine Civic Action Group veterans of the Vietnam War “who sacrificed much so that we, their descendants, may live in peace and freedom.” — DVM, GMA News