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Case guide questions 1 CASE GUIDE QUESTIONS MODULE RETIREMENT ATTRIBUTES SSS LAW GSIS LAW LABOR CODE Conditions for availment Upon reaching the age of a sixty years optional retirement or b sixty-five years compulsory retirement Members who meet the follo

CASE GUIDE QUESTIONS MODULE RETIREMENT ATTRIBUTES SSS LAW GSIS LAW LABOR CODE Conditions for availment Upon reaching the age of a sixty years optional retirement or b sixty-five years compulsory retirement Members who meet the following conditions a has spent at least years in service b at least years of age at the time of retirement and c he is not receiving a monthly pension benefit from permanent total disability If with CBA or other agreements providing for retirement benefits a Upon reaching the retirement age established in such agreement In the absence of retirement plan or agreement providing for retirement benefits of employees in the establishment a upon reaching the age of sixty years or more but not beyond sixty-five years which is hereby declared the compulsory retirement age who has served at least five years in the said establishment or For underground mining employees b upon reaching the age of fifty years or more but not beyond sixty years which is hereby declared the compulsory retirement age for underground mine workers who has served at least five years as underground mine worker Amount of benefit a If the member has paid at least monthly contributions prior to the semester of retirement- lifetime monthly pension b If the members has not paid at least monthly contributions prior to the semester of retirement - lump sum benefit equal to the total contributions paid by him and on his behalf a -year lump sum equivalent to months of basic monthly pension after years old-age pension benefit equal to the basic monthly pension payable for life or b cash payment benefit equivalent to x of the basic monthly pension plus monthly pension for life Retirement benefits under existing laws and any collective bargaining and other agreements Provided however That an employee ? s retirement benefits under any collective bargaining and other agreements shall not be less than those provided therein Otherwise the retirement pay for those without CBA retirement plan shall apply Retirement pay equivalent to at least one-half month salary for every year of service a fraction of at least six months being considered as one whole year Unless the parties provide for broader inclusions the term ? one-half month salary ? shall mean fifteen days plus one-twelfth of the th month pay and the cash equivalent of not more than five days of service incentive leaves In case of death of worker In case of death of the retired member his primary beneficiaries as of the date of his retirement shall be entitled to receive the monthly pension If there are no primary beneficiaries benefits shall be paid to secondary beneficiaries In case of death of the member the primary beneficiaries are entitled to survivorship benefits If there are no primary beneficiaries benefits shall be paid to secondary beneficiaries Guido Pulong vs Super Manufacturing Inc vs Engr Eduardo Dy et al GR October Article of the Labor Code as amended by RA governs the retirement of employees in the private