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REsignation letter along with the papers to sign new contract...

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Arresto Menor
Our company is seeking PEZA accreditation and according to them it entails having a new company name. however, they need us to sign a new contract in conjunction with this change. They offered us 2 options: 1, is we avail of a voluntary retirement package or 2, we sign the new contract but along with it is the writing of a resignation letter. is this legal? some of us aren't comfortable writing a resignation letter as many of us have been with the company for more than 3 years. if we choose to sign the new contract and write a resignation letter is it right to ask for a separation pay first? is what they're asking a ground for forced resignation?

thank you.

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