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Retirement Benefits

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1 Retirement Benefits on Tue Nov 24, 2015 8:37 am

Just Asking

Arresto Menor
Five years ago, I was invited by a head hunter to join a progressive company to strengthen their Supply Chain Department.  As I was already holding a management position in my company back then, I was given a senior manager position and a very good compensation package as an enticement. I accepted the offer and transferred the new company.  I was 50 years old when I joined them and I was looking forward to at least 10 years of work since the retirement age in their company is 60.  

Two years after, the management decided to change the mandatory retirement age to 55 with Full retirement benefits given to employees who have reached the retirement age and who have rendered a minimum of 10 years service.  I was alarmed and asked my boss about my case, since obviously I will not be able to meet the required tenure.  He said he will ask HR to deal with that separately since I am a special case which is not in the policy.  I believed him.

I will be 55 in January, and asked my boss again about my case.  He referred me to HR who in turn said they will be giving me the retirement notice soon since that is what the policy says. (The HR head at the time when I first raised my case had resigned a year after the new policy was implemented).  I asked if I will be entitled to the full retirement benefits and she said no because I did not reach 10 years.

This is not fair at all!  If I dont reach the 10 years requirement, it is not because I dont want to, but because the new policy on retirement does not allow me to.  I would like to ask for legal opinion on the following:
1.  Can I claim for full retirement benefits (I only have 5 years of service) because my understanding at the time of my employment was that the retirement age is 60?
2.  Can i also claim for the lost 5 years in which I am still supposed to be employed?
3.  As soon as they give me the retirement notice, can I already ask a a legal counsel to represent me in formally claiming for the above?

One co-employee cautioned me that court cases take time, not to mention expensive, if ever I will take legal action.  The company has a lot of resources while a retiree has limited sources. Parang babangga ka daw sa pader.  This is very discouraging. My close friends are advising me to just let it be, and let divine justice take over. Ganun na lang ba talaga sa Pinas? Sad

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2 Re: Retirement Benefits on Sun Dec 06, 2015 9:10 pm

Just Asking

Arresto Menor
no reply from anyone?

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3 Re: Retirement Benefits on Mon Dec 07, 2015 12:19 am


Reclusion Perpetua
Is it told in your contract
or only in the policy?
If only in the policy, does your contract say something about referal to policy, if so what?
(I wonder if they have promised you something in the contract.)

Why haven't this question been decided 3 years ago???

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4 Re: Retirement Benefits Today at 3:48 am

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