Macroeconomic Policy NewsPart 4 News: General Business Environment

Lower age coverage for Seniors Act sought

MANILA, Philippines – A bill has been filed in the Senate to lower the coverage of the Senior Citizens Act from citizens aged 60 years old and above to 55 years old.

“We want more elders to benefit from the Senior Citizens Act that’s why we are pushing for this amendment. This is one way of helping them and acknowledging their efforts in nation-building,” Sen. Ramon Revilla said over the weekend in filing Senate Bill 2940.

The bill stipulates that citizens 55 years old and above shall be granted 10 percent discount on purchase of goods, services and medicines. Those aged 60 years old and above, on the other hand, shall enjoy a discount of 20 percent.
==============================================================================
By: Christina Mendez
Source: The Philippine Star, Aug. 22, 2011
To view the original article, click here.

This article is relevant to Part IV: General Business Environment – Macroeconomic Policy.

Comment here