"Section 1.     When a Justice of the Supreme Court or of the Court of Appeals or a Judge of the Courts of First Instance, Industrial Relations, Agrarian Relations, Tax Appeals or Juvenile and Domestic Relations who has rendered at least twenty years' service, either in the judiciary or in any other branch of the Government, or in both, (a) retires for having attained the age of seventy years, or (b) resigns by reason of his incapacity to discharge the duties of his office, he shall receive during the residue of his natural life, in the manner hereinafter provided, the salary which he was receiving at the time of his retirement or resignation. And when a Justice of the Supreme court or of the Court of Appeals or a Judge of the Court of First Instance, Industrial Relations, Agrarian Relations, Tax Appeals or Juvenile and Domestic Relations has attained the age of sixty-five years and has rendered at least twenty years' service in the Government, fifteen or more of which have been continuously rendered as such, he shall likewise be entitled to retire and receive during the residue of his natural life, in the manner also hereinafter prescribed, the salary which he was then receiving. It is a condition of the pension provided for herein that no retiring Justice or Judge of a Court of Record during the time that he is receiving said pension shall appear as counsel before any court in any civil case wherein the Government or any subdivision or instrumentality thereof is the adverse party, or in any criminal case wherein an officer or employee of the Government is accused of an offense committed in relation to his Office, or collect any fee for his appearance in any administrative proceedings to maintain an interest adverse to the Government, national, provincial, or municipal, or to any of its legally constituted officers. It is also a condition of the pension provided for herein that when a member of the judiciary entitled to the benefits of this act shall return to public elective office, he shall not, upon assumption of office and during his term, receive the monthly pension due him." 

"Section 2.     In case a Justice of the Supreme Court or of the Court of Appeals dies while in actual service, his heirs shall receive a lump sum equivalent to five years salary based upon the salary that said Justice was receiving at the time of his demise, if by reason of his length of service in the government he was already entitled to the benefits of this Act; and as to a Judge of the Court of First Instance, Industrial Relations, Agrarian Relations, Tax Appeals, or Juvenile and Domestic Relations who dies in actual service before he shall have attained the age of seventy years, the lump sum allowable for death benefit shall be only for three years based on the decedent's last salary which shall be payable to his heirs in three equal annual installments, otherwise his heirs shall only receive a lump sum equivalent to his last salary for two years payable in two equal annual installments in addition to a reimbursement of all premiums that he may have paid under this Act. The same benefits provided in this section shall be extended according to the foregoing schedule to any incumbent Justice of the Supreme Court or of the Court of Appeals or a Judge of the Court of First Instance, Industrial Relations, Agrarian Relations, Tax Appeals, or Juvenile and Domestic Relations, as the case may be, who, without having attained the length of service required in Section one hereof shall have to retire upon reaching the age of seventy years, or for other causes, such as illness, to be certified to by the tribunal to which the Justice concerned belongs, or by the Secretary of Justice in case of an incumbent Judge of the Court of First Instance and other similar Courts of Record, which render him incapacitated to continue in his position."

"Section 3.     Upon retirement, a Justice of the Supreme Court or of the Court of Appeals shall be automatically entitled to a lump payment of five years salary based upon the last annual salary that said Justice was receiving at the time of his retirement: Provided, That, as to a Judge of the Court of First Instance, Industrial Relations, Agrarian Relations, Tax Appeals, or Juvenile and Domestic Relations, the lump sum payment shall be for three years salary based upon the last annual salary, and thereafter upon survival after the expiration of this period of five or three years, as the case may be, to a further annuity payable monthly during the residue of his natural life equivalent to the amount of the monthly salary he was receiving on the date of his retirement."

"Section 4.     A retiring Justice or Judge who is entitled to the benefits of any prior retirement gratuity Act shall have the option to choose between the benefits in such Act and those herein provided for, and in such case he shall be entitled only to the benefits so chosen: Provided, however, That a Justice or Judge retired under any prior Act and who is thereafter appointed to the Supreme Court or to the Court of Appeals or to the Court of First Instance, Industrial Relations, Agrarian Relations, Tax Appeals, or Juvenile and Domestic Relations, as the case may be, shall be entitled to the benefits of this Act on condition that, in case he has not fully refunded to the Government the gratuity previously received by him, there shall be deducted from the amount payable to him under this Act such monthly installments as are required in section six of Act Numbered Four thousand and fifty-one, as amended, until the gratuity already received by him shall have been refunded in full." 

"Section 5.     The Government Service Insurance System shall take charge of the enforcement and operation of this Act, and so Justice of the Supreme Court or of the Court of Appeals, Judge of the Court of First Instance, Industrial Relations, Agrarian Relations, Tax Appeals, or Juvenile and Domestic Relations shall be entitled to receive any gratuity or pension herein provided unless from the month following the approval of this Act, in case of an actual incumbent, or form the month following his appointment and qualification as such, in case of future appointment, he shall have contributed to the funds of the System by paying a monthly premium of one hundred pesos, which fund shall also be made available for the payment of the benefits of this Act."

"Section 6.     Commonwealth Act Numbered Five hundred and thirty-six and other provision in conflict with this Act are hereby repealed."