Adjustment of Pensions for Recipients Receiving Other Government Pensions
- Individuals receiving lifetime annual pensions from the Philippine Government will have the amount of such pensions deducted from the pension paid under this Act.
Suspension of Pension During Reemployment in Government Service
- Pensions shall be discontinued if the pensioner is reemployed by any branch of the Government (including municipalities and provinces) and receives salary, pay, or compensation for their services.
- The pension is discontinued only when the salary, pay, or compensation received is equal to or greater than 50% of the pension amount from this Act.
- The discontinuation applies only for the period during which the pensioner is employed and receiving the specified compensation.
Record-Keeping and Supervision of the Pension Fund
- All records relating to the Teachers' Pension and Disability Fund – including administration, manipulations, and disbursements – must be maintained by the Director of Education.
- The Director of Education operates under the supervision of the Pension and Investment Board in managing these accounts.
Definition of Basic Salary, Pay, or Compensation
- The term “basic salary, pay or compensation” excludes bonuses, allowances, overtime pay, or other additional compensation beyond the fixed basic pay as established by law or regulation.
- This definition also excludes provisions under Act No. 2589.
Effectivity Clause
- The amendments take effect immediately upon approval of the Act.