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march10.2014 bSolon proposes monthly pension for government retirees under RA 1616

march10.2014 bSolon proposes monthly pension for government retirees under RA 1616

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Solon proposes monthly pension for government retirees under RA 1616
Solon proposes monthly pension for government retirees under RA 1616

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Published by: pribhor2 on Mar 10, 2014
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03/10/2014

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MARCH 10, 2014

NR # 3401B

Solon proposes monthly pension for government retirees under RA 1616
Government retirees who availed of gratuity benefit may soon look to better economic days ahead. Under House Bill 3948 authored by !e". #onathan de la $ru% &'arty(list )B)*)+) retirees who have reached the age of ,- years will be granted a monthly "ension under !e"ublic )ct ././. +e la $ru% said based on a survey conducted of retirees who o"ted to retire under !) ././ a ma0ority of them have been living on the charity and good will of close relatives and friends. 12he lum" sum they have received when they availed of the gratuity benefit has been greatly eroded by the lingering slum" and high cost of living 3 +e la $ru% said. He further e4"lained that their economic difficulties are further aggravated when the country suffers from the devastating effects of calamities natural or man(made. 1)ging "ersonnel who retired under whatever circumstances need monthly "ension and assistance but at their late age their o""ortunities of earning a living are already almost nil 3 +e la $ru% said. 2he bill "rovides that in im"lementing this )ct the Government 5ervice 6nsurance 5ystem &G5657 shall determine the monthly "ension of a retiree as defined herein and formulate guidelines in the disbursement for said beneficiaries. 2he measure further authori%es the 'resident of the 'hili""ines to realign or transfer any item a""ro"riate within the G565 and8or utili%e any savings therein to carry out the "ur"ose of this )ct. &3-7 mvip

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