January 2018

03Jan

Philippines moving toward aging population: POPCOM

The number of people aged 60 and above in the Philippines is expected to grow this year, latest projections from the Commission on Population (POPCOM) show. The number of elderly Filipinos or those over 60 years old is projected to increase by 0.23 percent over 2017 and will most likely be over 8 million Filipino senior citizens by the end of the year, POPCOM said. This will constitute 8.2 percent of the country's total population. Of this figure, 5 million will...

January 3, 2018
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December 2017

04Dec

Bitcoin-Friendly Philippines Plans ICO Regulation

After introducing regulations for bitcoin exchanges earlier this year, authorities in the Philippines are casting their eye on initial coin offerings (ICOs). Bangko Sentral ng Pilipinas (BSP) governor Nestor Espenilla has revealed the central bank’s intent to introduce regulations for initial coin offerings, or ICOs. A radical new form of fundraising where companies and startups raise capital by offering digital tokens in exchange for cryptocurrencies like bitcoin and Ethereum, ICOs are becoming increasingly popular as a means to gain financing. According...

December 4, 2017
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01Dec

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...

December 1, 2017
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September 2017

08Sep

Philippines. SSS selling more properties to fund pension hike

The state-run pension fund Social Security System (SSS) will sell over P3.45 billion in properties to augment its revenues amid the implementation of the pension hike approved by President Rodrigo Duterte. SSS president and chief executive officer Emmanuel F. Dooc said most of the real estate properties to be auctioned off beginning this year until 2022 include “dacióned” and foreclosed condominium units, houses as well as memorial lots. “Most of these properties identified for sale were paid to the SSS through ‘dación pago’ or...

September 8, 2017
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