THE Department of Social Welfare and Development (DSWD) is improving and strengthening its digital literacy program for the Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries to instill in them the values of responsible financing amid the fast-evolving digital landscape.
4Ps Social Marketing Division Chief Marie Grace Ponce said among the goals of the agency is to teach and instill among the 4PS beneficiaries the importance of managing their income, establishing savings and preparing for their future.
“Dito pumapasok ‘yung financial literacy, na ngayon nga ay nag-scale up na rin sa digital financial literacy kung saan tinuturan natin ang ating mga sambayanan kung paano pina-priority ang responsableng paggastos (This is where financial literacy comes in and we have scaled up the digital financial literacy program which teaches the public to practice and prioritize responsible spending),” Ponce said.
She said the DSWD wants to help the beneficiaries maximize the cash grants they receive not just through bank savings but also through financial investments and services offered by digital wallets.
The pilot testing of the digital financial literacy initiative, in line with Republic Act 11310 or the “Act Institutionalizing the 4Ps”, was launched last February and aims to provide beneficiaries with capability-building activities to improve their well-being.
Ponce said the financial literacy program is included in the family development sessions for 4Ps where the concept of digital financial literacy and the available digital and financial services were discussed especially as some cash grant disbursements of the agency are now being made available through digital wallets.
The 4Ps was launched in 2008 but institutionalized only in 2019 through Republic Act No. 11310 or the 4Ps Act which provides monthly cash grants to more than four million poor families in the country with school-age children to help them finish basic education or from elementary to senior high school and avail of regular health and nutrition grants and services.
Under the 4Ps, a poor household receives P750 a month for health and nutrition grant and P600 a month for rice subsidy, while the education grant for children in elementary school is P300 per month, P500 per month for junior high school; and P700 per month for senior high school.
