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Retirement under RA 660 or the Annuity (Pension) Benefit Plan

Compute Monthly Pension  
Age on Retirement      .
Years of Service    
Ave. Monthly Compensation* P
Start of Govt. Service**    
 
* Ave. Monthly Compensation received during the last 3 years preceding retirement
** This retirement mode is only available to those who were in service prior to May 31, 1977
The types of annuity benefits available are:
 
1. Automatic Annuity (Pension)
Available to those who retire at age below 60 years. The benefit is a monthly pension guaranteed for a period of 5 years from the date of retirement. After the 5-year guaranteed period, the retiree will receive a monthly pension for life.
   
Monthly Pension P

2. Initial Three-Year Lump Sum
Available to those who are at least 60 years old but less than 63 years old on date of retirement. The subsequent two-year lump sum shall be paid to the retiree on his 63rd birthday. After the 5-year guaranteed period, the retiree will receive a monthly pension for life.
   
Initial 3-Yr Lump Sum P
Monthly Pension P

3. Five-Year Lump Sum
Available to those who are at least 63 years old or over on the date of retirement. After the 5-year guaranteed period, the retiree will receive a monthly pension for life.
 
5-Yr Lump Sum P
Monthly Pension P
 
Important: These calculations are approximate and the values shown are still subject to applicable deductions/additions.
   
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