budget allocation for social pension for senior citizens is pegged at P25.

472
billion

Providing the increased pension to the beneficiaries, however, would only bring
back Php – Billion in additional consumer spending. These amount to a net cost of
Php Billion every year, or a benefit-cost ratio of only –.

1.4 Expanding the social pension to include all senior citizens would result in an
additional Php — Billion allocation for around 6.5 million more senior citizens.
The government cannot accommodate the proposed measure at the moment in the midst
of competing priorities for government funding on programs.

These include, among others, the following:

Aside from the Php 500.00 monthly stipend of indigent citizens, RA No. 7432, as
amended, provides other privileges and benefits for Filipino citizens aged 60 years
old and above.

2.3 We note that as of (date), the SSS has more than (number) pensioners, of which
(number of pensioners) are retired pensioners who receive an average monthly
pension of Php . Furthermore, as of (date), the GSIS has provided an average
pension of Php to (number) old-age pensioners.

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since August 1, 2022, August 2, 2022, August 2, 2022, August 3, 2022, August 9,
2022, August 10, 2022, August 22, 2022 and September 23, 2022, respectively

An Act Granting Universal Social Pension to Senior Citizens and Appropriating Funds
Therefor and for Other Purposes

Representative Gerville Reyes-Luistro