Creation of Pension Commission
Republic Act No. 532, enacted on June 16, 1950, establishes a Pension Commission under the Office of the President of the Philippines. The Commission, chaired by the Secretary of Labor and composed of representatives for employers and employees, is tasked with studying a pension plan for workers in private business, industry, and government-owned corporations. It will consider various factors, including the nature of businesses, employee conditions, and service length, and is required to submit its findings and a comprehensive pension plan to the President and Congress by December 31, 1950. An appropriation of ten thousand pesos is authorized to support the Commission's activities. This Act took effect upon its approval.
Law Information
- Reference Number
- Republic Act No. 532
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 16, 1950
REPUBLIC ACT NO. 532
AN ACT CREATING A PENSION COMMISSION TO STUDY A PENSION PLAN FOR EMPLOYEES AND LABORERS OF PRIVATE BUSINESS AND INDUSTRY
SECTION 1. There is created in the Office of the President of the Philippines a Pension Commission composed of the Secretary of Labor, as chairman, and two others to be appointed by the President of the Philippines with the consent of the Commission on Appointments, as members, one to represent the interests of the employers and the other to represent the interests of the employees and laborers. The General Manager of the Government Service Insurance System shall be the Adviser and a member ex officio of the said Commission. With the exception of the Secretary of Labor, the members of the Commission shall be entitled to receive per diem, to be fixed by the President of the Philippines, not exceeding twenty pesos for every meeting of the Commission attended by them. casia
The Commission may, with the consent of the corresponding head of any government department, agency, or corporation, use the services of any officer or employee therein.
SECTION 2. It shall be the function of the Pension Commission to make a comprehensive study of a pension plan for employees and laborers of private business and industry, landed estates and government-owned or controlled business corporations, in the Philippines, taking into consideration the nature and capital of the various business and industries, the gross and net profits thereof, the kind of work in which the employees and laborers are engaged, their age, physical condition, and length of service, the amount of pension, and other allied factors.
The Commission shall submit the result of its studies and a comprehensive pension plan for employees and laborers of private business and industry in the Philippines, to the President of the Philippines and to both Houses of Congress on or before December thirty-one, nineteen hundred and fifty.
SECTION 3. The sum of ten thousand pesos, or so much thereof as may be necessary, is authorized to be appropriated, out of funds in the National Treasury not otherwise appropriated, to carry out the purpose of this Act.
SECTION 4. This Act shall take effect upon its approval.
Approved: June 16, 1950
Published in the Official Gazette, Vol. 46, No. 10, p. 4730 in October 1950
Cite This Law
Creation of Pension Commission, Republic Act No. 532, Jun 16, 1950 (Philippines)
Creation of Pension Commission, Republic Act No. 532 (Phil. 1950)
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