The policy of the State to promote just and dynamic social order that ensures prosperity and frees the people from poverty via policies that provide adequate goods and services promotes a rising standard of living and improved quality of life could be best demonstrated if a law could be enacted adjusting their rate of pension.
The adjustment sought under this proposed measure is an increase of Two Thousand Pesos (P2,000) monthly in the pension of retirees and an increase of One Thousand Pesos (1,000) monthly for their beneficiaries.
The present rates of pension stipulated in the old Republic Act No. 3050 as amended by P.D. No. 1148 no longer reflect realistic subsistence level. As a matter of fact, many of our old teachers have already passed away and those who are still alive are very old and sickly. Further, even their beneficiaries experience the brunt of our worsening economic situation.
In this light, the immediate passage of this bill is hereby appealed.
HOUSE BILL NO. 1024
Introduced by Rep. Precious Hipolito Castelo
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