Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Bill offering incentives for hiring seniors filed

by
July 28, 2022
in Investing News
0
Bill offering incentives for hiring seniors filed
0
SHARES
16
VIEWS
Share on FacebookShare on Twitter
PHILSTAR

A BILL offering incentives to companies that hire older workers has been filed in the Senate, with perks like expanded deductions on the salaries of seniors and training expenses incurred on such workers.

“There is a need to provide opportunities for our senior citizens who are still able and willing to obtain gainful employment and wish to continue to become economically active and productive during their golden years,” Senator Emmanuel Joel J. Villanueva said in a statement on Thursday.

“This bill will further support and promote equal work opportunities for our senior citizens,” he added.

Senate Bill 360, which seeks to amend Republic Act 9994 or the expanded Senior Citizens Act of 2010, increases the allowable deduction from gross income of private entities that employ senior citizens to 25% from 15% on the cost of salaries and wages, as well as training provided to senior citizens.

The measure also proposes to waive fees and charges charged to senior citizen jobseekers on documents needed for hiring like licenses, proofs of identification, clearances, certificates, and others.

If passed, the bill will allow the employment of all qualified seniors, and gives employers discretion on benefits, working conditions and terms of employment for such workers beyond the minimum standards required by law.

The bill requires the Department of Labor and Employment to provide job-matching and employment facilitation services for seniors.

The Philippine Statistics Authority estimates that 7.5 million Filipinos are aged 60 and above as of 2015, with 4.8 million over 64 years old. Some 42% or 3.2 million of these age cohorts remain at work, including 1.2 million skilled agricultural, forestry, and fishery workers, 499,000 in elementary occupations, and 427,000 managers.

The Philippine Institute for Developmental Studies has projected that the Philippines will “join the ranks of countries with an aging population” by 2032 with at least 7% of the population older than 64. This percentage is expected to double by 2069, with the country eventually becoming “an aged society.” — Alyssa Nicole O. Tan

ShareTweetPin

Related Posts

Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case
Investing News

Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case

August 23, 2022
ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts
Investing News

ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts

August 23, 2022
Malaysian trade official urges PHL to sign up for RCEP  
Investing News

Malaysian trade official urges PHL to sign up for RCEP  

August 23, 2022
Next Post
Entertainment News (07/29/22)

Entertainment News (07/29/22)

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

China air force, referring to Taiwan, vows to safeguard its ‘territorial integrity’

China air force, referring to Taiwan, vows to safeguard its ‘territorial integrity’

July 31, 2022
U.S. Stands as A Major Growth Pocket for the Cannabidiol (CBD) Oil Market; Will Other Countries Follow Suit?

U.S. Stands as A Major Growth Pocket for the Cannabidiol (CBD) Oil Market; Will Other Countries Follow Suit?

July 12, 2022
Commuting in, DIY out: UK’s new ‘new normal’ after end of Covid controls

Commuting in, DIY out: UK’s new ‘new normal’ after end of Covid controls

August 10, 2022
From the Rhine to the Tigris, rivers are warnings

From the Rhine to the Tigris, rivers are warnings

August 18, 2022
NG budget deficit narrows in May

NG budget deficit narrows in May

June 23, 2022
CBI warns UK government over Northern Ireland protocol

CBI warns UK government over Northern Ireland protocol

June 13, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.