Cookie2122
Member
On Feb. 26, 2024, a new law was approved and signed by President Ferdinand Marcos Jr., which provides a cash incentive to Filipino centenarians and extends cash gifts to Filipino octogenarians and nonagenarians. This law is Republic Act 11982, which amended RA 10868, otherwise known as the "Centenarians Act of 2016." Section 1 of RA 11982 expressly provides: "Section 1. Section 2 of Republic Act No. 10868, otherwise known as the 'Centenarians Act of 2016', is hereby amended to read as follows: "'Section 2. Letter of Felicitation and Cash Gift. – All Filipinos, whether residing in the Philippines or abroad, upon reaching the age of one hundred (100) years old, shall receive a cash gift of One hundred thousand pesos (P100,000.00) and a letter of felicitation from the President of the Philippines congratulating the celebrant for his or her longevity. "'All Filipinos, whether residing in the Philippines or abroad, upon reaching the ages of eighty (80), eighty-five (85), ninety (90), and ninety-five (95), shall each receive a cash gift of Ten thousand pesos (P10,000.00). "'The grantees under this section shall be eligible to receive the cash gift within one (1) year from reaching the ages of eighty (80), eighty-five (85), ninety (90), ninety-five (95) and one hundred (100).'" From the foregoing provision, it is clear that a cash incentive, amounting to P100,000, and a letter of felicitation from the president of the Philippines is still granted to Filipinos who reach the milestone age of 100 years old. In addition, Filipinos who reach the milestone ages of 85, 90 and 95 years old will receive a cash gift amounting to P10,000. These benefits are available to qualified Filipino citizens, regardless of whether they reside in the Philippines or abroad.
