(NAR) VOL. 19 NO. 1 / JANUARY - MARCH 2008
1.1.1 Old age/retirement pensioners, including joint-life retirees;1.2 Not entitled are:
1.1.2 Disability pensioners.
1.2.1 Basic Survivorship and Dependent Pensioners.2. Amount of Increase
1.2 2 Joint-life beneficiaries.
1 2.3 Retirees who received in advance their guaranteed pensions in the form of lump sums and/or are stii! in their guaranteed period. They shall only be entitled to pension increases that may be granted after the resumption of their regular monthly pensions. Therefore, retirees who received in advance their guaranteed pensions in the form of lump sums and who shall be resuming their monthly pensions within calendar year 2008 shall only be entitled to pension increases that may be granted after 2008.
1.2.4 New retirees of calendar years 2006 to 2008 who availed of 18 times the basic monthly pension as lump sum plus immediate monthly pension. They shall only be entitled to pension increases granted if they have been regular pensioners for at least five (5) years.
1.2.5 Separated Members who received the cash payment of 18 times the basic monthly pensions (BMP) as separation benefit and who shall be starting their monthly pensions within calendar years 2007 and 2008. They shall only be entitled to pension increases granted if they have been regular pensioners for at least five (5) years.
1.2.6 Pensioners under R.A. 7699 (Portability Law) who are receiving their regular pro-rata pensions including those who are receiving pro-rata pensions as a result of the Premium-Based Policy.
3. Budget Allocation from the Social Insurance Fund
Type of Pension Amount of Increase Minimum Pension*
Old-Age/Retirement/Disability 2.0% P2,500.00 * - Minimum Pension does not apply to pro-rata pension of pensioners under R.A. 7699 and R.A 8291 as a result of the Premium-Based Policy.
Adopted; 12 Dec. 2007 (Board Meeting No. 22)
Additional Monthly Cash Outlay P 19.49 M Additional Annual Cash Outlay P 233.83 M Additional Reserve Requirement P1.369.31 M Resulting Average Monthly Pensions Old-Age/Retirement/Disability P7.876.75