Retirement Compensation and Limits
- Retired officers receive an annual compensation equal to 2.5% of their total current annual pay per year of service.
- Retired enlisted men receive an annual compensation equal to 2.5% of their total current annual pay and allowances per year of service.
- Compensation is payable for life until death.
- Maximum annual compensation is capped at 75% of the current pay (and allowances for enlisted men) at the time of retirement.
Funding and Liens
- The Philippine Government is not financially responsible for the compensation or allowance payments.
- Payments are made from the Pension and Retirement Fund of the Philippines Constabulary.
- Section fourteen of Act Numbered Six hundred and nineteen ensures a first lien on the fund for amounts required to be paid before other payments.
Recall to Active Service
- Retired officers and enlisted men residing in the Philippines may be recalled to active duty by the Governor-General.
- While recalled, they are entitled to full pay according to their rank or grade.
- Recalled members lose their rights to further participation in the retirement fund benefits, conditional on physical fitness.
- Physical fitness and recall procedures are governed by regulations from the Secretary of Commerce and Police.
Consolidation and Amendments to the Pension Fund
- Existing funds from sections eleven and fourteen of Act Numbered Six hundred and nineteen are consolidated into the Pension and Retirement Fund of the Philippines Constabulary.
- Provisions related to pensions for disability remain effective.
- Additional monthly deductions from pay of colonels, lieutenant-colonels, and majors are added to the fund as specified.
Fund Investment Oversight
- Investment of pension funds is managed by the Postal Savings Bank Investment Board.
- Investment must comply with restrictions and conditions from Act Numbered Fourteen hundred and ninety-three as amended by Act Numbered Sixteen hundred and twenty.
Fund Management and Audit
- The fund is maintained as a separate trust fund by the Insular Treasurer.
- The fund is strictly used only for purposes stated in this Act and Act Numbered Six hundred and nineteen.
- The Insular Auditor conducts audits of the fund to ensure proper administration.
Effective Date and Legislative Expediency
- The Act takes effect on July 1, 1907.
- The legislature expedited the passage of this Act for public good under the procedural provisions set out in prior legislation.