The National Commission of Senior Citizens (NCSC), in partnership with the Land Bank of the Philippines (LANDBANK), is set to implement the efficient and secured distribution of cash gifts to Filipino senior citizens under the Republic Act No. 11982, also known as the Expanded Centenarians Act of 2024. This initiative ensures that eligible senior citizens receive well-deserved financial support in recognition of their contributions to society.
The Memorandum of Agreement (MOA) was formally signed on 14 March 2025 at the Madison 101 Hotel in Quezon City, marking a significant milestone in the collaboration between NCSC and LANDBANK. Starting January 2025, the NCSC led the implementation of the distribution of cash incentives to qualified Filipino seniors in accordance with the provisions of the Expanded Centenarians Act of 2024. The program provides cash gifts of ₱10,000 to senior citizens reaching the ages of 80, 85, 90, and 95, while centenarians upon reaching 100 years old will receive ₱100,000.
To facilitate this initiative, the NCSC and LANDBANK have entered into a significant undertaking through a MOA to ensure seamless fund disbursement and account management. LANDBANK will establish designated accounts at its branches to hold and distribute these funds efficiently, while also waiving interbranch transaction fees and providing financial reporting services.
NCSC OIC Chairperson and CEO Dr. Mary Jean P. Loreche, underscored that through this partnership, NCSC and LANDBANK remains committed to honor Filipino senior citizens by ensuring they receive cash gifts they deserve in a timely and transparent manner. She further emphasized that through LANDBANK’s banking infrastructure, NCSC can efficiently reach our elderly beneficiaries across the country.
Landbank of the Philippines President and CEO Lynette V. Ortiz emphasized its support to the NCSC in the fulfillment of its mandate, providing seamless, safe, efficient and timely distribution of the cash gifts to the senior citizen beneficiaries under the Expanded Centenarians Act of 2024.
The NCSC Central Office will oversee budget allocation and fund transfers, while its Regional Offices will coordinate with Local Government Units (LGUs) and the Office for Senior Citizens Affairs (OSCA) to verify beneficiaries and disburse cash gifts accordingly. Unclaimed funds will be returned within five banking days to ensure proper fund management and compliance with Commission on Audit (COA) regulations.
On 26 February 2025, President Ferdinand Romualdez Marcos Jr. led the inaugural cash gift distribution to the beneficiaries of the Expanded Centenarians Act of 2024 at the Heroes Hall, Malacañan Palace. The ceremonial cash gift distribution was graced by some honorable members of the Senate and House of Representatives, government officials, and senior citizen beneficiaries, underscoring the administration’s commitment to support and uplift the elderly community in the country.
Through collaborative efforts of various government agencies with the NCSC, it is expected that over PHP 2.9 billion in financial aid will be distributed to approximately 275,000 senior citizens across the country this year. This initiative is part of the government’s continuous efforts to honor and support the Filipino senior citizens who have significantly contributed to the country’s nation-building.