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Outgoing Philippine President Benigno Aquino III reviews the troops during a testimonial parade in his honour Monday, June 27, 2016 at Camp Aguinaldo in suburban Quezon city northeast of Manila, Philippines. Aquino will relinquish his post on June 30 to President-elect Rodrigo Duterte. Image Credit: AP

Manila: Philippine President Benigno Aquino has signed a law providing cash benefits for Filipinos who have reached the age of 100 years.

The new edict, Republic Act 10868, an Act Honoring and Granting Additional Benefits and Privileges to Filipino Centenarians, is one of the last measures to be signed by the President before he steps down from office on June 30.

Aside from providing a P100,000 (Dh7,836) gift from the government, centenarians will also be given due recognition for their contribution to the society and will take part in annual celebrations honouring them through the National Respect for Centenarians Day, which is will be held every September 25.

Earlier, Senators had sought that Filipinos who attain the age of 100 be honoured for their “rare gift of longevity and in appreciation of their contribution to their communities.”

According to Senator Nancy Binay, it is enshrined in the country’s constitution that the elderly must be respected and honoured and that they must be given care by the government.

“Our centenarians are living proof that we can overcome the trials of life and still reach the age of 100 and beyond,” she said, adding that the new law was Aquino’s parting gift to the elderly.

In 2013, a similar measure providing benefits for centenarians was vetoed by Aquino amid concerns that a provision on the proposal would overburden businesses providing discounts for goods and services provided to them.

According to Congressman Edcel Lagman, there are some 3,500 Filipinos aged 100 and above who will benefit from this new law.

“I must say it was really a long wait but it was well worth the wait,” he said.

“On behalf of all the co-authors of the Centenarians Act, I would like to thank our President for giving it the green light at last,” the lawmaker added.

The elderly in the Philippines are among the most disregarded sector in the society. Not all of them are provided old age benefits such as in other countries.

Most are left in the care of their own families with little or no support from the state except for senior citizen discounts on medicines and food.