The purpose of this study is to contribute to the ongoing efforts towards achieving universal social protection in the Philippines. It aims to address knowledge gaps related to near-poor households and provide valuable insights to inform the expansion of the 4Ps to include the near-poor. Additionally, it seeks to inform social protection strategies for different income segments, with a particular focus on the most vulnerable children and adolescents, considering the challenges posed by climatic risks and other shocks. The primary objective was to conduct a thorough analysis of the vulnerabilities faced by near-poor households and offer policy-makers evidence-based recommendations that will aid in the design of a targeted social protection strategy specifically tailored for the needs of the near-poor.