Legislative History
| House Bill/Resolution NO. House Bill No. 2497, 12th Congress of the Republic | |
| FULL TITLE : AN ACT INCREASING PENSIONS UNDER THE SOCIAL SECURITY SYSTEM, AMENDING FOR THE PURPOSE SECTION 12 OF THE SOCIAL SECURITY ACT OF 1997 | |
| ABSTRACT : Notwithstanding the preceding paragraph, the minimum MONTHLY pension shall be [One thousand two hundred pesos (P1,200.00) formembers with at least ten (10) credited years of service and Two thousand four hundred pesos (P2,400.00) for those with twenty (20) credited years of service] THREE THOUSAND PESOS (P3,000.00): PROVIDED, THAT IN THE SUCCEEDING YEARS STARTING JANUARY, 1999, SAID THREE THOUSAND MONTHLY PENSION BENEFIT SHALL BE INCREASED ANNUALLY BY FIVE HUNDRED PESOS (P500.00) PER MONTH UNTIL (P5,000.00) PER MONTH: PROVIDED, FURHTER THAT THE COMMISSSION SHALL EQUITABLY ADJUST THE MONTHLY PENSIONS OF OTHER ENTITLED MEMEBERS OR BENEFICIARIES WHOSE MONTHLY PENSIONS ARE HIGHER THAN THE MINIMUM MONTHLY PENSION HEREBY ESTABLISHED TO PRESERVETHE INTEGRITY OF THE PENSION PROGRAM. | |
| PRINCIPAL AUTHOR/S : ROCO, CHO | |
| DATE FILED : 2001-08-16 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Del Mar (016 ) | 2. Rodriguez (017 ) |
| 3. Espino (035 ) | 4. Villarama (042 ) |
| 5. Syjuco (057 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON GOVERNMENT ENTERPRISES AND PRIVATIZATION ON 2001-08-22 |
Abstract
Notwithstanding the preceding paragraph, the minimum MONTHLY pension shall be [One thousand two hundred pesos (P1,200.00) formembers with at least ten (10) credited years of service and Two thousand four hundred pesos (P2,400.00) for those with twenty (20) credited years of service] THREE THOUSAND PESOS (P3,000.00): PROVIDED, THAT IN THE SUCCEEDING YEARS STARTING JANUARY, 1999, SAID THREE THOUSAND MONTHLY PENSION BENEFIT SHALL BE INCREASED ANNUALLY BY FIVE HUNDRED PESOS (P500.00) PER MONTH UNTIL (P5,000.00) PER MONTH: PROVIDED, FURHTER THAT THE COMMISSSION SHALL EQUITABLY ADJUST THE MONTHLY PENSIONS OF OTHER ENTITLED MEMEBERS OR BENEFICIARIES WHOSE MONTHLY PENSIONS ARE HIGHER THAN THE MINIMUM MONTHLY PENSION HEREBY ESTABLISHED TO PRESERVETHE INTEGRITY OF THE PENSION PROGRAM.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.