retirement benefits for 10 years in service
1 retirement benefits for 10 years in service on Wed Jul 27, 2011 6:54 pm
2 Re: retirement benefits for 10 years in service on Thu Jul 28, 2011 1:53 am
dyesebel wrote:may makukuha po ba kmi if ever na magresign kmi sa trabaho nmin? 10 years na po kmi at ang sinasabi sa amin lagi ng management ay depende dw po sa company if gusto nila magbigsy or hindi. if ever po na nsa law ang pagbbgay ng retirement benefirs, how much po ang pwede nila ibigay? as of now po kasi merong ino-offer na retrenchment pero 50% of monthly salary per year of lenght of service lang, makatarungan po ba un, ndi po ba kmi pwede magdemand ng 100%?
Retirement benefits are granted as provided for by the labor code (Art 287) for those who have reached 60 years of age AND have served at least 5 years in the company. It is management's prerogative if it wants to give better benefits, but they are not obliged to do so.
As for retrenchment (assuming the causes are valid), 50% is the legal rate and anything in excess is also a management prerogative.
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