President Rodrigo Duterte has signed a law increasing the monthly old-age pension of war veterans.
Under Republic Act No. 11164, veterans who saw action in World War II, the Korean War, and the Vietnam War would receive increases in their old-age pensions.
The old age-pension will be increased to P20,000 per month, provided that the veterans of the Korean and Vietnam wars are not receiving a separate pension from the Armed Forces of the Philippines.
The law also provides that the entitlement to the increase in the old-age pension will l be limited to the eligible living senior veterans and will not be transferable to any family members and/or dependents of the senior veterans.
Meanwhile, in order to augment the amount needed to fund the increase, the budget necessary for its initial implementation shall be charged against the current year’s available appropriation of the Philippine Veterans Affairs Office.
“Such sums as may be needed for the continued implementation of this Act shall be included in the annual General Appropriations Act, provided that the PVAO shall prioritize the distribution of the benefits granted under this Act from whatever available appropriation that will be included in the annual General Appropriations Act,” the law read.
The law shall take effect 15 days after its publication in the government’s Official Gazette or in at least two national newspapers of general circulation.
It was passed by the Senate as Senate Bill No. 1766 and adopted by the House of Representatives as an amendment to House Bill No. 7525 in October 2018.
The President signed the said RA back in December last year.