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PHILIPPINE LAWS, STATUTES & CODES
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| REPUBLIC ACT NO. 1570 - AN ACT
PROVIDING FOR THE RETIREMENT OF THE PRESENT SECRETARY OF THE HOUSE OF
REPRESENTATIVES |
| Section 1. In
consideration of the extraordinary services rendered by the present
Secretary of the House of Representatives to the Government for nearly
half a century, he may retire under this Act, and upon his retirement,
he shall be automatically entitled to a lump sum payment equivalent to
his salary in the House of Representatives for five years on the basis
of the monthly salary he was receiving in the House of Representatives
at the time of his retirement, and thereafter upon the expiration of
five years from the time of his retirement, to a further annuity
payable monthly during the residue of his natural life equivalent to
his said monthly salary, which lump sum and annuity shall not be
subject to attachment, levy, execution, or any tax whatsoever. The
retirement benefits provided for herein shall be in lieu of the
retirement benefits to which he is entitled under the Government
Service Insurance Act, is amended.cralaw
Sec. 2. The Government Service Insurance System shall take charge of the execution of this Act. Sec. 3. The sum necessary to carry out the provisions of this Act is hereby appropriated out of any funds in the National Treasury not otherwise appropriated.cralaw
Sec. 4. This Act shall take effect upon its
approval.cralaw Approved: June 16, 1956 |
