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Retirement Pay

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1 Retirement Pay on Fri Nov 27, 2015 1:52 pm


Arresto Menor
Hi we are currently residing in the Philippines. My father will be turning 60 next year and he would like to know on how to compute his retirement pay from the company where he is currently working. He's been there for more than 19 years now. Hoping for your answer. Thanks

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2 Re: Retirement Pay on Fri Nov 27, 2015 2:05 pm


Does your father's company have a collective bargaining agreement with its employees? If so, that agreement should be the first point of reference on how much will your father receive as a retirement pay. If there is no such agreement, the default retirement pay is 22.5 days pay (1/2 month salary + 1/12 of 13th month + 5 days SIL) for every year of service.

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3 Re: Retirement Pay on Tue Dec 01, 2015 5:58 am


Arresto Menor
Thank you very much. You got everything covered I think.

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