Thus the benefit was universal (every older adult was eligible) but cohort-restricted (only Bolivian citizens born before 1975 were entitled). It was first paid in May 1997, only one month before the general presidential election. Shortly after, the scheme was replaced by the less generous Bolivida, but it was reinstituted a few years later in 2002. In 1997, 364,261 benefits were paid for a yearly value of about US$248.