Question & AnswerQ&A (Republic Act No. 8558)
The main purpose of Republic Act No. 8558 is to amend Article 287 of the Labor Code of the Philippines by reducing the retirement age of underground mine workers from sixty (60) to fifty (50).
Article 287 of Presidential Decree No. 442, as amended, otherwise known as the Labor Code of the Philippines, is amended by RA 8558.
The compulsory retirement age for regular employees is sixty-five (65) years old.
Underground mine workers may retire upon reaching age fifty (50) or more, but not beyond sixty (60), which is declared the compulsory retirement age for underground mine workers.
An employee must have served at least five (5) years in the establishment to be entitled to retirement benefits.
The employee is entitled to retirement pay equivalent to at least one-half (1/2) month salary for every year of service, with a fraction of at least six (6) months being considered as one whole year.
Unless otherwise agreed, one-half month salary means fifteen (15) days plus one-twelfth (1/12) of the 13th month pay and the cash equivalent of not more than five (5) days of service incentive leaves.
No, retail, service, and agricultural establishments or operations employing not more than ten (10) employees or workers are exempt from the coverage of this provision.
Violation of the retirement provisions is unlawful and is subject to the penal provisions provided under Article 288 of the Labor Code.
Yes, nothing in the Article shall deprive any employee of benefits to which he may be entitled under existing laws or company policies or practices.
It took effect fifteen (15) days after its complete publication in the Official Gazette or in at least two (2) national papers of general circulation, whichever came earlier.