A GROUP of senior citizens yesterday staged a rally at the Senate calling for the passage of House Bill No. 10423, or the proposed Universal Pension for Senior Citizens Act, which, despite having been approved by the House on third and final reading in May last year, remains pending at the committee level in the Senate.
HB 10423 seeks to grant a P1,000 pension to all senior citizens.
“The Universal Social Pension Act is about fairness and dignity. It ensures that no Filipino senior is left behind, regardless of their economic status. This is our way of giving back to those who have contributed so much to society,” said Marikina Rep. Stella Quimbo, acting chair of the House Committee on Appropriations, who joined the rally.
Rep. Milagros Magsaysay (PL, United Senior Citizens), a co-author of the bill, also joined the rally. “We urge our counterparts in the Senate to pass the bill before the 19th Congress closes… Our united senior citizens are pleading because of the high prices of basic commodities,” she said in mixed Filipino and English.
Under Republic Act No. 7432, only indigent senior citizens are entitled to a monthly stipend of P1,000 to help them in their daily subsistence and other medical needs.
Once the bill is enacted, senior citizens who do not fall under the category of indigents will receive a monthly stipend of P500. However, the bill also states that within five years, all senior citizens will be entitled to a universal social pension equivalent to at least P1,000, regardless of any other pension benefits they may receive.
The bill seeks to address critical gaps in the current system under the Expanded Senior Citizens Act (RA 9994), which limits pension eligibility to indigent seniors, leaving behind millions of elderly Filipinos who still face financial difficulties.
Of the 4.085 million seniors listed under the DSWD social pension program, only 783,000 have received payouts due to logistical delays and issues with LGU compliance in liquidation processes, Quimbo said.
Key provisions of the bill include automatic pension eligibility for all Filipinos aged 60 and above, efficient distribution mechanisms with no transaction fees, and provisions to ensure funds are used efficiently and rolled over when unused.
“By extending pensions to all senior citizens, we can reduce inequality and ensure that no one is excluded from receiving the support they deserve. This social pension will be a vital lifeline for seniors without other income sources, significantly reducing their risk of poverty. Moreover, the increased spending capacity of our elderly will stimulate local economies, especially small and medium enterprises, as they invest in essential goods and services,” Quimbo said.
Quimbo said the growing demographic trends in the country show that the senior citizen population is expected to reach nearly 11 million by the end of 2025 and many of them face significant financial and health issues, with 59 percent of their medical expenses paid out-of-pocket in 2018.
“This bill is not just about numbers; it’s about lives. Our seniors deserve to retire with dignity and the financial means to meet their basic needs,” she said.