He cited several cases of former world champions who, after losing prominence, have been living the hard life.
He singled out Rolando Navarette, former world junior lightweight champion, who is now reportedly sickly and is begging for alms to survive.
"There is definitely a need to provide benefits for professional atletes who have brough honor and glory to the country," said Villar.
"These professional athletes who have done something for our country must not be left out in the cold. The least we could do is give them the means to lead decent, dignified lives," he added.