Philippines lags behind Asian neighbors in pension benefits
In its World Social Protection Report 2017/19, ILO said 40 percent of the Filipino senior citizens still do not have income security despite the additional allocation of the government for its pension programs.
“This is in contrast to countries like China, Thailand, Mongolia, Brunei Darussalam and Timor-Leste which have considerably expanded their coverage through the use of universal tax-funded pensions,” ILO said.
As a region, Asia is also not faring any better compared to other more developed regional cluster in terms of providing social protection benefits to its workers. “Nearly half the elderly in the region still do not benefit from a pension, a proportion that is only higher in Africa,” ILO said.
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