In 2002, the PSC granted incentives to Filipino athletes who garner gold, silver and bronze medals in the Olympics, Asian Games and quadrennial (4-year) world championships.
Under the Incentives Act, coaches and trainers are entitled to 50% of the athletes’ incentives. Prior to the enactment of the law on 2001, athletes are entitled to 50% of the incentives. The Southeast Asian Games held before 2001 are not covered by the law.
Athletes who won gold medals in international competitions are entitled to the following: P5 million for Olympics, P2.5 million for quadrennial championships, P1 million for Asian Games and P100,000 for SEA Games.
Silver medalists are qualified for P2.5 million (Olympics), P1 million for quadrennial world championships, P500,000 for Asian Games and P50,000 for SEA Games.
Bronze medalists, on the other hand, are eligible to P1 million for Olympics, P500,000 for quadrennial, P100,000 for Asian Games and P10,000 for SEA Games.
For team events, teams with less than five participants shall receive the same cash award for individual to be divided equally. With five or more participants, the team shall receive twice the cash awards for individual athletes to be divided equally.
The Philippine Amateur and Gaming Corporation (PAGCOR) remits the funding of the incentives directly as a special account in addition to the regular income of the PSC through the national sports development fund.
All coaches and trainers of past achievers must register and submit the requirements at the PSC Support Services Division through telephone numbers 525-0808, 525-2240, 524-4336, 523-9831 local 128. [pr]
