The Pantawid Pamilyang Pilipino Program (4Ps) of the Philippines marks its fifth year of implementation in 2013 since its inception in 2008. The first batch of 4Ps beneficiaries will graduate from the program in several months while the government continues to expand its implementation, devising along the way several variants that it deems necessary to address the many facets of poverty. The 4Ps is by far the largest poverty reduction and social development program the Philippine government has ever implemented. Approximately PHP 120 billion have already been allocated to the program up to 2013. The program's dual objectives are social assistance and social development. It provides cash assistance to poor families to alleviate their immediate needs and aims to "break the intergenerational poverty cycle through investments in human capital". As program graduation nears, many questions arise as to what to expect from this program. At this point, it may be fitting to draw together assessments that have been conducted so far and to look into some important issues in terms of design and implementation. This paper seeks to answer the question of whether expanding the program would likely yield better results. It discusses the outstanding issues raised against the program, most especially those that bear on the program's ability to facilitate inclusive growth.