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 Rep. Jonathan Dela Cruz (Party-list, ABAKADA, retirees who have reached the age of 70 years will be granted a monthly pension under Republic Act 1616. Dela Cruz said based on a survey conducted of retirees who opted to retire under RA 1616, a majority of them have been living on the charity and good will of close relatives and friends. The lump sum they have received when they availed of the gratuity benefit has been greatly eroded by the lingering slump and high cost of living, Dela Cruz said. He further explained that their economic difficulties are further aggravated when the country suffers from the devastating effects of calamities, natural or man-made. Aging personnel who retired under whatever circumstances need monthly pension and assistance but at their late age their opportunities of earning a living are already almost nil, Dela Cruz said. The bill provides that in implementing this Act, the Government Service Insurance System (GSIS) shall determine the monthly pension of a retiree as defined herein and formulate guidelines in the disbursement for said beneficiaries. The measure further authorizes the President of the Philippines to realign or transfer any item appropriate within the GSIS and/or utilize any savings therein to carry out the purpose of this Act. SOURCE: Media Relations Service, Public Relations and Information Bureau
Posted on: Mon, 10 Mar 2014 00:44:32 +0000
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