Pension plan for Olympic, Asiad medalists up

MANILA, Philippines—National athletes with victories in the Asian Games and the Olympics should be entitled to a monthly retirement benefit like regular government employees, Philippine Olympic Committee spokesperson Joey Romasanta Tuesday brought up the inclusion of a pension plan for national athletes once  lawmakers amend Republic Act 9064, known as the Sports Incentives Act.

POC president Jose “Peping” Cojuangco Jr. has started consulting some members of the House of Representatives on the possible amendment of the law, which provides a one-time cash bonanza for medal-winning athletes in the Asiad, the quadrennial world championships and the Olympics.

Aside from giving out lump sum bonuses to athletes, Romasanta hatched the idea of putting them under a retirement plan similar to the monthly benefit that government employees receive from the Government Service Insurance System (GSIS).

“It’s a practical way of recognizing the efforts of our athletes. At least, they have something to look forward to when they retire,” said Romasanta, noting that some national athletes ended up destitute.

Romasanta, stressed, however, that   the retirement fund should be exclusive to those who earned medals in the Asian Games and the Olympics.