LANDBANK, DSWD lead distribution of P3.4M cash grants to CCT beneficiaries

Wednesday, July 31, 2019

(From left) DSWD Asst. Secretary Noel M. Macalalad, DSWD Undersecretary Rene Glen O. Paje, LANDBANK North NCR Branches Group Head/SVP Leila C. Martin, DSWD Asst. Secretary Rhea B. Peñaflor, DSWD Secretary Ronaldo Joselito D. Bautista, DBM Asst. Secretary Rolando U. Toledo; and DBM NCR Director Vicente Gregorio B. Tomas.

Land Bank of the Philippines (LANDBANK), together with the Department of Social Welfare and Development (DSWD), released on Saturday (July 27, 2019) cash pay-outs for nearly 1,000 household-beneficiaries at the DSWD Central Office compound in Quezon City under the national government’s Unconditional Cash Transfer (UCT) Program.

DSWD Secretary Ronaldo Joselito D. Bautista led the 2019 cash pay-out amounting to Php3,600.00 per beneficiary. This amount was a substantial increase from the Php2,400.00 given to each household-beneficiary in 2018.

Joining the event were LANDBANK North NCR Branches Group Head/SVP Leila C. Martin, DSWD Undersecretary Rene Glen O. Paje, DSWD Asst. Secretaries Noel M. Macalalad and Rhea B. Peñaflor, DBM Asst. Secretary Rolando U. Toledo; and DBM NCR Director Vicente Gregorio B. Tomas.

The UCT Program is the tax subsidy provided under the Tax Reform for Acceleration and Inclusion (TRAIN) Law to help the poor who will not directly benefit from the lowering of personal income tax but will be affected by the moderate increase in prices due to the higher oil excise tax, introduction of the sugar-sweetened beverage (SSB) tax and the expansion of the value-added tax (VAT) base.

It is considered to be the biggest tax reform mitigation program under the TRAIN Law which seeks to provide 10 million beneficiaries with cash subsidies amounting to Php200 a month for 2018 and Php300 a month for 2019 and 2020.

LANDBANK has been designated as the government’s conduit for the pay-outs to the UCT Program beneficiaries - of which a considerable number are farmers.

According to the DSWD, the 10 million Filipino households and individuals who will receive the UCT are divided into three categories: 4.4 million for members of the 4Ps program; 3.4 million from the social pension senior citizen beneficiaries; and the remaining 2.2 million will be coming from the DSWD’s Listahanan Program.

For performance year 2018 UCT Program cash grants, LANDBANK has paid out a total of P18.53 billion to 7,722,882 beneficiaries nationwide as of June 2019. Meanwhile, for the performance year 2019 cash grants, LANDBANK paid out a total of P13.26 billion to 3,683,491 beneficiaries in July 2019. Of this amount, P13,256,218,800 was given out to 3,682,283 4Ps beneficiaries, and P4,348,800 was granted to 1,208 Listahanan beneficiaries.