Conduct of Studies by the Employees' Compensation Commission on Upgrading Pension Benefits
Letter of Instructions No. 1015, issued on May 1, 1980, by President Ferdinand E. Marcos, authorizes the Employees' Compensation Commission (ECC) to conduct studies aimed at upgrading pension benefits for permanently disabled workers and soldiers, as well as their beneficiaries. This initiative addresses the impact of inflation on pensioners, who have been adversely affected by the declining value of the peso and rising commodity prices. The ECC, along with the Social Security System (SSS) and the Government Service Insurance System (GSIS), is tasked with submitting recommendations while considering the actuarial stability of the State Insurance Fund and the implications of any changes in employer and employee contributions.
Law Information
- Reference Number
- Letter of Instructions No. 1015
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
May 1, 1980
LETTER OF INSTRUCTIONS NO. 1015
AUTHORIZING THE EMPLOYEES' COMPENSATION COMMISSION (ECC) TO CONDUCT STUDIES TOWARDS UPGRADING PENSION BENEFITS
WHEREAS, confirmed reports have indicated a gradual erosion of the value of the peso and a continuing rise in prices of prime commodities; acd
WHEREAS, pensioners, particularly victims of employment-related contingencies, including soldiers and their beneficiaries are most directly affected by these inflationary trends; and
WHEREAS, upgrading of pension benefits, specially permanently disabled workers and soldiers and their dependents, will serve to cushion the harsh effects of inflation; aisa dc
NOW, THEREFORE, I, FERDINAND E. MARCOS, President and Prime Minister of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby authorize the Employees' Compensation Commission (ECC), and its Administering Agencies, the Social Security System (SSS) and the Government Service Insurance System (GSIS), to undertake studies and submit recommendations to me towards upgrading the pension benefits of permanently disabled workers and soldiers, and their beneficiaries: Provided, That the actuarial implications on the stability and viability of the State Insurance Fund shall be specifically considered in the studies and that any change in the level of employer and employee contributions shall be carefully analyzed and justified. casia
DONE in the City of Manila, this 1st day of May, in the year of Our Lord, Nineteen Hundred and Eighty.
Cite This Law
Conduct of Studies by the Employees' Compensation Commission on Upgrading Pension Benefits, Letter of Instructions No. 1015, May 1, 1980 (Philippines)
Conduct of Studies by the Employees' Compensation Commission on Upgrading Pension Benefits, Letter of Instructions No. 1015 (Phil. 1980)
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