The Department of Budget and Management (DBM) has released around PHP49.807 billion to fund the social pension of over four million indigent senior citizens nationwide.

In a statement on Friday, the DBM said the fund, which was given to the Department of Social Welfare and Development in January this year, is chargeable against the 2024 General Appropriations Act.

The released budget is almost double last year’s appropriation of PHP25.30 billion.

DBM Secretary Amenah Pangandaman said the immediate release of budget for the monthly stipend of senior citizens was in line with President Ferdinand R. Marcos Jr.’s commitment to take care of the elderly.

“We recognize the challenges faced by the elderly and understand the importance of providing timely assistance to alleviate their hardships. The prompt release of this budget allows us to make a tangible difference in their lives,” she said.

The DSWD Social Pension for Indigent Senior Citizens (SPISC) Program aims to improve the well-being of qualifying indigent senior citizens by supplementing their daily living and medical requirements, alleviating hunger, and protecting them from deprivation, neglect, or abuse.Under Republic Act (RA) 11916 enacted in July 2022, beneficiaries of the SPISC Program are entitled to receive an enhanced monthly stipend of PHP1,000 this year.

RA 11916 doubles the monthly pension for senior citizens from PHP500 to PHP1,000.

Eligible recipients must be 60 years old and above, frail and sickly, and without pensions from other government sources such as the Government Service Insurance System, Philippine Veterans Affairs Office, Social Security System, and private insurance companies.

They should also not have a regular source of income or support from family or relatives to cover their basic needs.

The SPISC Program is among the many initiatives implemented to achieve the current administration’s vision for a “Bagong Pilipinas” (New Philippines). (PNA)