Law granting cash incentives to elderly 80 to 95 years old signed

Law granting cash incentives to elderly 80 to 95 years old signed
Photo from Presidential Communications Office

PRESIDENT Ferdinand Marcos Jr. signed into law on Monday, February 26, 2024, a measure granting additional cash incentives to octogenarians and nonagenarians, or elderly people aged 80 to 95 years old.

Marcos signed Republic Act (RA) 11982, or the Amendments to the Centenarians Act of 2016, which expands the coverage of RA 10868, or the Centenarians Act of 2016, to include all Filipinos, whether residing in the Philippines or abroad to be a recipient of a cash gift worth P10,000 upon reaching the age of 80 and every five years thereafter, or until the age of 95.

During the ceremonial signing of the law, Marcos said the law is a homage to the Filipino trait of compassion, and in the Philippine culture, this shows more kindness and compassion to the elderly.

“We do, after all, stand on the shoulders of these giants,” he said.

“But they deserve more than cash in an envelope. What they should get is a support infrastructure that every society owes to its greying population. There were already close to 10 million seniors two years ago … But as this demographic enlarges, the societal facilities that attend to them should be expanded as well,” he added.

Marcos also signed into law Republic Act 11981 or the Tatak Pinoy (Proudly Filipino) Act, which strengthens the partnership between the government and private sector toward promoting Philippine goods and services by making these increasingly diversified and globally competitive.

The measure upholds inclusive economic growth and development in the country by encouraging, supporting, and promoting the production and offering of local products and services of increasing diversity, sophistication, and quality by domestic enterprises that are globally competitive.

He said “Tatak Pinoy” is more than a branding exercise as it is about giving incentives to local products that deserve to carry the “Made in the Philippines” trademark, showing the creativity and skills of the Filipino worker.

“Each of these laws encapsulates the merits that the Bagong Pilipinas upholds toward building a strong nation. For example, the Tatak Pinoy Act is about investing in Filipino competence and talent. That genius and gift must be supported, not by exhortation alone but by true, tangible support,” he said.

“It is about creating products and services of the highest quality, because Tatak Pinoy is also about excellence, and as a seal of great workmanship, it must only be applied to those that meet this high standard. As such, we shall give preference and priority to our products,” he added. (TPM/SunStar Philippines)


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