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Free Legal Advice Philippines » FREE LEGAL ADVICE » LABOR AND EMPLOYMENT » Retirement Pay

Retirement Pay

2 posters

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1Retirement Pay Empty Retirement Pay Fri Nov 27, 2015 1:52 pm

missisem


Arresto Menor

Hi we are currently residing in the Philippines. My father will be turning 60 next year and he would like to know on how to compute his retirement pay from the company where he is currently working. He's been there for more than 19 years now. Hoping for your answer. Thanks

2Retirement Pay Empty Re: Retirement Pay Fri Nov 27, 2015 2:05 pm

fbsensei

fbsensei
moderator

Does your father's company have a collective bargaining agreement with its employees? If so, that agreement should be the first point of reference on how much will your father receive as a retirement pay. If there is no such agreement, the default retirement pay is 22.5 days pay (1/2 month salary + 1/12 of 13th month + 5 days SIL) for every year of service.

3Retirement Pay Empty Re: Retirement Pay Tue Dec 01, 2015 5:58 am

missisem


Arresto Menor

Thank you very much. You got everything covered I think.

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Free Legal Advice Philippines » FREE LEGAL ADVICE » LABOR AND EMPLOYMENT » Retirement Pay

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