Press Release
October 1, 2007

Angara files "Needy Senior
Citizens Financial Assistance Act"

In celebration of the Senior Citizens' Week, Senator Edgardo Angara has filed another bill that shall provide additional financial support to needy senior citizens.

Senate Bill 1657, or the "Needy Senior Citizens Financial Assistance Act," issues needy senior citizens[1] a special identification card that entitles the holder a monthly cash transfer of Php1,500.

The bill also grants loans amounting to Php15,000 to qualified senior citizens that would want to engage in income-generating activities. The loan shall have zero percent interest and without collateral. Its repayment shall be on a weekly staggered basis.

Beneficiaries of the said financial assistances may apply to and shall be determined by the Department of Social Welfare and Development (DSWD).

According to the Senator and author of the Senior Citizens Law of 1992 and the Expanded Senior Citizens Act of 2003, the existing laws are not enough to ensure that senior citizens are adequately supported and cared for.

"The grants and privileges under the two laws are insufficient to ensure better twilight days for senior citizens, because they may not be able to afford the services offered by the existing laws," said Senator Angara.

"A recent United Nations sponsored seminar in Bangkok concluded that social pensions are an affordable and cost effective way of delivering social protection to the elderly. Already, twelve Asian governments had introduced social assistance through regular cash transfers. As signatory to the Second World Assembly on Ageing of 2002, it is high time the Philippine government fully provide our elder citizens income security and social security, as well as ensure that they do not suffer from poverty." Senator Angara asserted.

"These three aspects are what the bill addresses. By providing economically disadvantaged senior citizens sufficient minimum income and access to loans for income generation, we guarantee them their rights to income security, social protection and poverty alleviation," said the Senator. (30)


[1]The qualifications for availing a monthly allowance are as follows: (1) Filipino citizenship, (2) at least sixty years of age, (3) must be unemployed and without adequate means for survival, (4) must be within the poverty threshold as determined by the DSWD, and (e) must be a holder of special ID issued by the appropriate agency

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