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Retirement under RA 8291

Compute Retirement Benefits  
Ave. Monthly Compensation* P
Years of Service    
Effectivity of Retirement    
 
* Ave. Monthly Compensation received during the last 3 years preceding retirement
The benefits are:
 
Option 1: Lump Sum and Old Age Pension
Available to those who are at least 60 years of age with at least 15 years of service. Under this option, the retiree will receive an amount equivalent to 60 months of the Basic Monthly Pension payable at the time of retirement, plus an old age pension benefit equal to the basic monthly pension payable monthly for life, starting upon the expiration of the 5 years covered by the lump sum.
 
Lump Sum P
Old Age Pension P

 
Option 2: Cash Payment and Basic Monthly Pension
Available to those who are at least 60 years of age with at least 15 years of service. Under this option, the retiree will receive an amount equivalent to 18 times of the basic monthly pension plus monthly pension for life payable immediately.
 
Cash Payment P
Basic Monthly Pension P

 
Important: These calculations are approximate and the values shown are still subject to applicable deductions/additions.
   
 
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