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MEDICAL RETIREMENT

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1 MEDICAL RETIREMENT on Mon Jun 15, 2015 10:18 pm

Distressed888


Arresto Menor
I would like to find details about Medical Retirement and how it is treated by our Labor Code.

Thanks.

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2 Re: MEDICAL RETIREMENT on Mon Jun 15, 2015 10:49 pm

LandOwner12


Reclusion Perpetua
Retirement is one of the modes of termination of employment. By retirement, the employment is terminated when the employee has reached a certain age, or after he has completed a certain number of years of service.
Under the Labor Code (Art. 287), an employee may be retired upon reaching the retirement age established in the collective bargaining agreement (CBA) or other applicable employment contract. In the absence of such agreement, the employee may retire upon reaching the age of 60 or more, but not more than 65, provided he has served at least 5 years or more in the same establishment. The age 60 or more, but below 65, is considered as the voluntary retirement age. Sixty-five is considered as the compulsory retirement age.
A company may have CBA or employment contract setting a retirement age different (higher or lower) from that fixed by law. For example, the CBA may fix the retirement age at 50.
The CBA or employment contract may also establish a retirement age based on years of service of the employee. For example, it may provide that the employee may be retired after 20 years of service.
The retirement age may also be established based on the combination of the age and tenure of the employee. For example, the contract may provide that “the employee may retire upon reaching the age of 50, or after 20 years of service, whichever comes earlier”.
For underground mining employees, the voluntary retirement age under the Labor Code is 50 years or more, but not beyond 60. The compulsory retirement age is set 60.
It is important to note that the company cannot unilaterally fix the retirement age of employee. Retirement age may be established only by a valid CBA or employment contract, or in the absence of both, by the law.
Another thing, the retirement age fixed by law applies only when no CBA or employment contract setting the retirement age exist. If there is such agreement or contract, the retirement age fixed by law won’t apply.
Retirement Pay
If the establishment has a CBA or employment contract providing for a retirement plan or benefits to employees, the employee shall be entitled to receive the benefits as provided in the said CBA or contract. However, such benefits must not be less than that provided under the Labor Code.
Under the Labor Code, the retirement pay is equivalent to at least one-half month salary for every year of service, a fraction of at least six months being considered as one whole year. The term one-half month salary shall mean 15 days plus 1/12 of the 13th month pay and the cash equivalent of not more than 5 days of service incentive leaves.

REtirement eto,
no idea sa medical retirement scenario..

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3 Re: MEDICAL RETIREMENT on Tue Jun 16, 2015 2:20 am

council


Reclusion Perpetua
LandOwner12 wrote:Retirement is one of the modes of termination of employment. By retirement, the employment is terminated when the employee has reached a certain age, or after he has completed a certain number of years of service.
Under the Labor Code (Art. 287), an employee may be retired upon reaching the retirement age established in the collective bargaining agreement (CBA) or other applicable employment contract. In the absence of such agreement, the employee may retire upon reaching the age of 60 or more, but not more than 65, provided he has served at least 5 years or more in the same establishment. The age 60 or more, but below 65, is considered as the voluntary retirement age. Sixty-five is considered as the compulsory retirement age.
A company may have CBA or employment contract setting a retirement age different (higher or lower) from that fixed by law. For example, the CBA may fix the retirement age at 50.
The CBA or employment contract may also establish a retirement age based on years of service of the employee. For example, it may provide that the employee may be retired after 20 years of service.
The retirement age may also be established based on the combination of the age and tenure of the employee. For example, the contract may provide that “the employee may retire upon reaching the age of 50, or after 20 years of service, whichever comes earlier”.
For underground mining employees, the voluntary retirement age under the Labor Code is 50 years or more, but not beyond 60. The compulsory retirement age is set 60.
It is important to note that the company cannot unilaterally fix the retirement age of employee. Retirement age may be established only by a valid CBA or employment contract, or in the absence of both, by the law.
Another thing, the retirement age fixed by law applies only when no CBA or employment contract setting the retirement age exist. If there is such agreement or contract, the retirement age fixed by law won’t apply.
Retirement Pay
If the establishment has a CBA or employment contract providing for a retirement plan or benefits to employees, the employee shall be entitled to receive the benefits as provided in the said CBA or contract. However, such benefits must not be less than that provided under the Labor Code.
Under the Labor Code, the retirement pay is equivalent to at least one-half month salary for every year of service, a fraction of at least six months being considered as one whole year. The term one-half month salary shall mean 15 days plus 1/12 of the 13th month pay and the cash equivalent of not more than 5 days of service incentive leaves.

Please provide source if this info.

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4 Re: MEDICAL RETIREMENT on Tue Jun 16, 2015 2:26 am

council


Reclusion Perpetua
Distressed888 wrote:I would like to find details about Medical Retirement and how it is treated by our Labor Code.

Thanks.

First we need a definition of "medical retirement" - and the closest that comes to is in Art 284.

Art. 284. Disease as ground for termination. An employer may terminate the services of an employee who has been found to be suffering from any disease and whose continued employment is prohibited by law or is prejudicial to his health as well as to the health of his co-employees: Provided, That he is paid separation pay equivalent to at least one (1) month salary or to one-half (1/2) month salary for every year of service, whichever is greater, a fraction of at least six (6) months being considered as one (1) whole year.

The computation of this is similar to that of "normal" retirement (upon reaching the retirement age established in the collective bargaining agreement or other applicable employment contract).

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5 Re: MEDICAL RETIREMENT on Tue Jun 16, 2015 10:26 pm

LandOwner12


Reclusion Perpetua
council wrote:
LandOwner12 wrote:Retirement is one of the modes of termination of employment. By retirement, the employment is terminated when the employee has reached a certain age, or after he has completed a certain number of years of service.
Under the Labor Code (Art. 287), an employee may be retired upon reaching the retirement age established in the collective bargaining agreement (CBA) or other applicable employment contract. In the absence of such agreement, the employee may retire upon reaching the age of 60 or more, but not more than 65, provided he has served at least 5 years or more in the same establishment. The age 60 or more, but below 65, is considered as the voluntary retirement age. Sixty-five is considered as the compulsory retirement age.
A company may have CBA or employment contract setting a retirement age different (higher or lower) from that fixed by law. For example, the CBA may fix the retirement age at 50.
The CBA or employment contract may also establish a retirement age based on years of service of the employee. For example, it may provide that the employee may be retired after 20 years of service.
The retirement age may also be established based on the combination of the age and tenure of the employee. For example, the contract may provide that “the employee may retire upon reaching the age of 50, or after 20 years of service, whichever comes earlier”.
For underground mining employees, the voluntary retirement age under the Labor Code is 50 years or more, but not beyond 60. The compulsory retirement age is set 60.
It is important to note that the company cannot unilaterally fix the retirement age of employee. Retirement age may be established only by a valid CBA or employment contract, or in the absence of both, by the law.
Another thing, the retirement age fixed by law applies only when no CBA or employment contract setting the retirement age exist. If there is such agreement or contract, the retirement age fixed by law won’t apply.
Retirement Pay
If the establishment has a CBA or employment contract providing for a retirement plan or benefits to employees, the employee shall be entitled to receive the benefits as provided in the said CBA or contract. However, such benefits must not be less than that provided under the Labor Code.
Under the Labor Code, the retirement pay is equivalent to at least one-half month salary for every year of service, a fraction of at least six months being considered as one whole year. The term one-half month salary shall mean 15 days plus 1/12 of the 13th month pay and the cash equivalent of not more than 5 days of service incentive leaves.

Please provide source if this info.

Sir Council,

i just quoted that,, from the net....
Philippine Labor Laws


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6 Re: MEDICAL RETIREMENT on Sat Jun 20, 2015 8:03 am

Distressed888


Arresto Menor
Is termination due to illness entitled to 13th month pay?

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7 Re: MEDICAL RETIREMENT on Sat Jun 20, 2015 9:25 am

LandOwner12


Reclusion Perpetua
Regardless of the reason of termination
13th month pay(pro rated) is a must..

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8 Re: MEDICAL RETIREMENT Today at 8:13 am

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