Starting February 2024, indigent senior citizens will receive a monthly social pension of P1,000, a substantial increase from the previous P500, as announced by the Department of Social Welfare and Development (DSWD). This initiative comes under Republic Act No. 11916, which aims to mitigate the effects of rising inflation on vulnerable seniors.
Assistant Secretary for Strategic Communications at DSWD, Romel Lopez, confirmed that the necessary funds have been allocated in the 2024 budget. The raised pension is part of the government’s commitment to support the elderly who are frail, sickly, disabled, or without a stable income and sufficient family support.
The enhanced social pension, paid out semiannually, will provide P6,000 every six months to each qualified senior. This financial aid is designed to help cover their daily living expenses and medical needs. Eligibility criteria ensure that the pension reaches those not already receiving pensions from other institutions like the SSS, GSIS, PVAO, AFPMBAI, or any private insurance.
An estimated 4,085,066 indigent senior citizens are set to benefit from this revised pension scheme in 2024.
