Speaker wants pension for Olympic medalists

SPEAKER Martin Romualdez has proposed that Philippine athletes who won medals in Olympic competitions be given a pension.

Romualdez said he had asked colleagues to start discussions on more benefits, financial or not, for athletes who win an Olympic medal.

We can never repay the honor brought by Carlos Yulo, Hidilyn Diaz and our Olympians for our country and the Filipino nation, but we can acknowledge their victory by giving them benefits from the government," he said.

House Speaker Martin Romualdez. PHOTO BY J. GERARD SEGUIA

«One of these is a lifetime pension for all Filipino Olympic gold, silver and bronze medalists who brought honor to our country. It will start at the age of 40 of their retirement from sports,» he said.

The pension would ensure a secure future for Filipino Olympians, Romualdez said.

He said that recognition of their sacrifices «doesn't stop when they win medals; it will continue for the rest of their lives.»

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Romualdez has directed a House committee to study amendments to Republic Act (RA) 10699 or the «National Athletes and Coaches Benefits and Incentives Act» and whether it needs updating.

He said Filipino athletes, coaches and support staff would be invited as resource persons in deliberating the pension plan for Olympic medalists.

In a related development, Albay 2nd District Rep. Joey Salceda said the House Committee on Ways and Means approved on Monday a bill that seeks tax exemptions for donations to athletes competing abroad.

Salceda, the committee's chairman, said that House Bill 421, which he authored, will exempt post-win prizes from companies and donations toward the athlete's training one year before he competes.

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The proposed exemption is retroactive to Jan. 1, 2024.