Question & AnswerQ&A (Republic Act No. 1568)
The main purpose of Republic Act No. 1568 is to provide a life pension in the form of a lump sum payment equivalent to five years' salary to the Auditor General and the Chairman or any Member of the Commission on Elections upon their retirement, incapacity, death while in service, or resignation at age sixty, provided they have rendered at least twenty years of government service.
The beneficiaries are the Auditor General and the Chairman or any Member of the Commission on Elections, or their heirs in case of death while in service.
The eligible person must have retired from service after completing their term, have become incapacitated to perform their duties, died while in service, or resigned upon reaching sixty years, and must have rendered not less than twenty years of government service.
Yes, any living former Auditor General or Chairman or Member of the Commission on Elections whose term ended prior to the law's approval can claim the pension if they meet the qualifications, subject to refunding any gratuity or pension already received from the government.
The beneficiary must refund any gratuity or pension already received before availing the benefits under this Act.
Once the beneficiaries opt for the benefits under this Act, they are no longer entitled to retire under Republic Act No. 660 or any other retirement act.
No, the pension benefits under this Act are exempt from all taxes and are not subject to garnishment, levy, or execution.
They are entitled to a refund of their personal share in the retirement premiums paid to the GSIS with the usual interest granted by the System.
No, the benefits under this Act are without prejudice to any life insurance benefits from the GSIS to which the officer may be entitled.
The sums necessary shall be appropriated from funds in the National Treasury not otherwise appropriated and shall be deemed permanent annual appropriations.
The Act took effect upon its approval on June 16, 1956.