Senate bill allows Pinoys over the age of 80 to receive portion of P100,000 cash gift for centenarians

A proposed bill in the Senate is eyeing the possible release of a portion of the P100,000 cash gift for centenarians as soon as they reach the age of 80 years old.

Under Section 2(a) of Senate Bill 2028, filed by Senator Imee Marcos, is seeking to amend the Centenarians Act of 2016 where “a cash gift in total amount of P100,000 to be distributed in three equal tranches to individuals reaching the ages of 80, 90, and 100 years old.”

The bill also includes a provision that allows the National Economic Development Authority to adjust the amount of cash gifts for inflation based on the average annual inflation in the three years preceding the adjustment. This will be implemented one year after the proposed law goes into effect. 

A letter of felicitation from the Philippine president congratulating the celebrant for his or her longevity will be given upon reaching the age of 100 years old.

To ensure effective implementation, an elderly management system recording relevant information on the persons covered by the  proposed law shall be established by the Philippine Statistics Authority, in coordination with the Department of the Interior and Local Government, the Department of Information and Communications Technology, the local government units, and the National Commission on Senior Citizens. —VAL, GMA Integrated News