President Rodrigo R. Duterte has signed a law increasing the monthly old-age pension of Filipino war veterans who fought during World War II, Korean, and Vietnam wars.
Duterte signed R.A. 11164 on Dec. 20, 2018 but a copy of the document was only released to media on Thursday (Jan. 10).
The law increases the old-age pension of war veterans from PHP5,000 to PHP20,000 per month.
According to law, the pension hike is only eligible to living senior veterans and non-transferable to any of their family members and/or dependents.
The amount for funding of the law will be provided by the Philippine Veterans Affairs Office (PVAO).
Meanwhile, continued implementation of the law will be included in the annual General Appropriations Act.
“In order to augment the amount needed to fund the increase in the old-age pension as provided that the PVAO shall prioritize the distribution of the benefits granted under this Act from whatever available appropriation that will be included in the annual General Appropriations Act,” the law reads.
The law will take effect 15 days after its publication in the Official Gazette or in at least two national newspapers of general circulation.
It was passed by the Senate of the Philippines as Senate Bill No. 1766 on Oct. 8, 2018 and adopted by the House of Representatives as an amendment to the House Bill No. 7525 on Oct. 10, 2018. (Azer Parrocha/PNA)
