Retirement planning is one of things that is sometimes being neglected by many specially those who are underprivileged. It may not be the best pension plan that our government can give, but surely this retirement plan that is available from the Department of Social Welfare and Development could still help pay some expenses for our senior citizens.
The retirement information below are some of the common question and answers to the question of many regarding the pension and retirement guide for our indigent senior citizen.
Frequently asked questions about Social Pension of Department of Social Welfare and Development Office (DSWD) for Indigent Senior Citizen.
1. Who can be the beneficiaries?
All 60 years old and above Filipinos in every region in the Philippines including ARMM and NCR.
2. Who are qualified?
Senior citizens who are poor
2. Senior citizens with no pension, no family support and living below poverty
3. Senior citizens who are frail, sickly and disabled and being identified by DSWD with the help of the National Coordinating and Monitoring Board.
3. What are the documents needed?
A photocopy of any valid
identification card with picture of the beneficiaries or birth certificate of senior citizen to be submitted in the Office of the Senior Citizen’s Affairs Office (OSCA) or in City/Municipal Social Welfare and Development Office.
A senior citizen may submit personally the documents or thru his relatives
4. What is the benefit?
P500 per month pension
(which aims to better the lives of indigent senior citizens by helping them augment their daily subsistence, particularly food and medicine.)
A social pensioner will
receive the amount of P1, 500 every three months or P6, 000 every year.
through Land Bank, postal money order or door-to-door money delivery, DSWD pay-out and fund transfer to LGUs.
Pursuant to the eligibility criteria as may be determined by the DSWD, indigent
senior citizens shall be entitled to a monthly stipend amounting to Five
hundred pesos (P500.00) to augment the daily subsistence and other medical
needs of senior citizens
The grant of pension shall be subject to a review every two (2) years by Congress, in consultation with the DSWD within three months
after convening the Congress.
Aside from the benefits accorded to our senior citizens like low fees for senior citizens transportation, senior citizen tax assistance, senior citizen healthcare for free, and other benefits, the government aim to take care of our senior citizens by giving some of them the pension plan of a certain amount as free pension to those who are less fortunate.
This retirement pension may not be enough and may not fully cover the expenses and needs of a senior citizen. However for us who are still young what we could do is to carefully plan for our retirement and seek for the best retirement plan to sustain us on our needs when our retirement comes.