REPUBLIC ACT NO. 6112  - AN ACT TO STRENGTHEN THE WORKING FORCE OF THE OFFICE OF INSURANCE COMMISSIONER AND TO PROVIDE CAREER INCENTIVES THEREIN

Section 1.    Any provision of existing law, executive order, rule or regulation to the contrary notwithstanding, the adjustments of the old annual rates of salaries to the corresponding steps in the new salary range of the following officials and employees of the Office of the Insurance Commissioner as indicated hereunder are hereby authorized:

           Old Salary Range           New Salary Range

Positions                  FROM         TO
    Range    Minimum    Maximum    Range    Minimum    Maximum

Insurance Commissioner    65    P14,532    P17,724    68    P16,860    P20,580

Assistant Insurance
    Commissioner    60      11,328      13,824    63      13,152      16,044

Actuarial Consultant    55        8,832      10,776    58      10,260      12,516

Junior Actuarial
    Researcher    34        3,108        3,792    37        3,612        4,404

Chief Insurance
    Examiner    51        7,236        8,832    54        8,400      10,260

Assistant Chief
    Insurance Examiner    49        6,552        7,992    52        7,608        9,288

Supervising Insurance
    Examiner    47        5,928        7,236    50        6,888        8,400

Senior Insurance
    Examiner    45        5,276        6,552    48        6,240        7,608

Insurance Examiner II    43        4,860        5,928    46        5,640        6,888

Insurance Examiner I    38        3,792        4,632    41        4,404        5,376

Insurance Examiner Aide    33        2,952        3,612    36        3,432        4,188

Examination Rating
    Supervisor    47        5,928        7,236    50        6,888        8,400

Chief Actuarial and
    Rating Examiner    51        7,236        8,832    54        8,400      10,260

Assistant Chief Actuarial
    and Rating Examiner    49        6,552        7,992    52        7,608        9,288

Supervising Actuarial and
    Rating Examiner    47        5,928        7,236    50        6,888        8,400

Senior Actuarial and
    Rating Examiner    45        5,276        6,552    48        6,240        7,608

Actuarial and Rating
    Examiner II    43        4,860        5,928    46        5,640        6,888

Actuarial and Rating
    Examiner I    38        3,792        4,632    41        4,404        5,376

Sec. 2.    The provisions of any law, executive order, rule or regulation to the contrary notwithstanding, the incumbents of the positions mentioned in Section one hereof shall continue to occupy their respective positions and receive the salary rates as adjusted in this Act without the necessity of issuing new appointments to them.

Sec. 3.    The salary differentials resulting from the adjustment of salaries authorized in this Act shall be paid out of any savings in the appropriations of the Office of the Insurance Commissioner authorized in the General Appropriations Act for the fiscal year nineteen hundred sixty-nine to nineteen hundred seventy as well as from assessment levied pro rata upon all domestic insurance and foreign insurance companies operating in the Philippines in proportion to the gross premiums during the period for which assessment is made as authorized under Section two of Republic Act Numbered Two hundred seventy-five. Thereafter, the funds needed to implement the provisions of this Act shall be included in the General Appropriations Act.

Sec. 4.    This Act shall take effect upon its approval.

Approved: August 4, 1969