Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila

TWENTIETH CONGRESS
First Regular Session

House Bill No. 2809

Introduced by Rep. FERDINAND ALEXANDER A. MARCOS
1% District, llocos Norte

EXPLANATORY NOTE

The Filipino workforce plays a pivotal role in sustaining national development.
Yet, many workers continue to face financial insecurity due to limited access to
financial education and viable economic opportunities beyond employment. This bill
addresses these challenges by mandating employers to implement financial literacy
and entrepreneurship programs for their employees.

The proposed Financial Literacy for Workers Act empowers employees to make
informed financial decisions and to explore entrepreneurial ventures as pathways to
long-term economic security. Under this measure, the Department of Labor and
Employment (DOLE), through the Secretary, shall award grants and loans on a
competitive basis to eligible employers and working entrepreneurs. These funds shall
support programs that promote responsible financial behavior and entrepreneurial
capacity. The Secretary may also extend direct assistance to qualified working
entrepreneurs to support the launch or expansion of their micro, small, or medium
enterprises (MSMEs).

In the face of rising prices, the growing incidence of financial scams, and the
prevalence of predatory lending, workers need tools to protect and build their financial
future. This measure seeks to equip them with essential knowledge in debt
management, savings and investments, insurance, and retirement planning. It aims to
reduce economic vulnerability and prevent long-term indigency. Moreover, the bill
addresses key barriers that hinder the development of entrepreneurial skills, such as
inadequate financial literacy, high startup costs, limited access to credit and market
data, and low productivity stemming from constrained economic capacity. By
enhancing financial literacy and entrepreneurial knowledge, workers can increase
their income, improve their quality of life, and contribute more meaningfully to inclusive
economic growth. Through this legislation, the State affirms its commitment to
empowering workers not just as employees, but as potential entrepreneurs and
financially literate citizens. _

In light of the foregoing, the early approval of this measure is earnestly sought.

FERDINAND ALEXANDER A. MARCOS


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila

TWENTIETH CONGRESS
First Regular Session

House Bill No. 2809

Introduced by Rep. FERDINAND ALEXANDER A. MARCOS
1® District, Ilocos Norte

AN ACT
PROVIDING FINANCIAL LITERACY AND ENTREPRENEURSHIP PROGRAMS,
FOR WORKERS

Be it enacted by the Senate and House of Representatives of the Philippines in
Congress assembled:

SECTION 1. Short Title. — This Act shall be known as the “Financial Literacy for
Workers Act.”

SEC. 2. Definition of Terms. — For purposes of this Act, the following terms are hereby
defined:

(A) Eligible entity refers to the employer:

(B) Working entrepreneurs refers to individuals who are employed and engaged in
the operations and/or management of a micro, small or medium enterprise;

(C)Department means the Department of Labor and Employment;

(D)Secretary means the Secretary of Labor and Employment;

SEC. 3. Grants and Loans. - The Secretary shall award grants and loans on a
competitive basis, to eligible entities to enable such entities to provide financial literacy
and entrepreneurship programs to workers. The Secretary may make available to
deserving working entrepreneurs, assistance in the form of grants or loans, to provide
for the initial launch of their small or medium enterprises.

SEC. 4. Application. — An eligible entity and working entrepreneur that desires to
receive a grant and loan under this section shall submit an application to the Secretary
accompanied by itemized budget and other data as the Secretary may require.

SEC. 5. Appropriations. - The amount necessary for the initial implementation of this
Act shall be sourced from the current budget and development funds of the
Department of Labor and Employment. Thereafter, the funds necessary for the
continuous implementation of this Act in the ensuing years shall be included in the
annual appropriations of the Department in the General Appropriations Act.

SEC. 6. Implementing Rules and Regulations. - The Department of Labor and
Employment, in consultation with relevant stakeholders shall issue within sixty (60)


days after the effectivity of this Act, the rules and regulations for the effective
implementation thereof.

SEC. 7. Separability Clause. — If any provision of this Act or any part thereof shall be
declared unconstitutional or invalid, the other provisions, as far as they are separable,
shall remain in force and effect.

SEC. 8. Repealing Clause. — All laws, decrees, orders, rules, and regulations or
thereof which are inconsistent with the provisions of this Act are hereby repealed,
amended, or modified accordingly.

SEC. 9. Effectivity. — This Act shall take effect fifteen (15) days after its publication in
the Official Gazette or in a newspaper of general circulation.

Approve