More retirement perks for medalists
OUTSTANDING athletes will receive additional benefits from their victories even after retirement.
Philippine Sports Commission chair Richie Garcia yesterday said successful athletes will earn more cash incentives at the end of their careers under a new measure approved by the Senate.
Garcia said the proposed National Athletes, Coaches and Trainers Benefits Incentives Act will reward medal performers in international meets to receive a lump sup amount equivalent to 25 percent of their total cash incentives throughout their stints as national athletes.
The PSC chief added that coaches and trainers are also entitled to the same retirement package computed from the start of their active sports career up to the last day of retirement from training as certified by the PSC.
The amount will be released 60 days after the filing of retirement documents.
Under Senate Bill No. 2898, which aims to repeal Republic Act 9064 or the Sports Incentives Act, an Olympic gold medal for the Summer and Winter Games will increase to P10 million from P5 million while individual gold medalists in the Youth Olympic Games and Paralympics stand to receive P5 million.
Top performers in the Asian Games and Asian Winter Games will earn P2 million and P1 million will be set aside for Filipino champions in the Asian Para Games, Asian Indoor and Martial Arts Games, and world-level competitions held every two years.
Asian Beach Games gold winners will line their pockets with P500,000 along with winners in Asian-level competitions, while SEAG gold medalist will get P300,000 from P100,000.
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