Lower Retirement Age for Surface Mine Workers

Employees may retire at the age established in their collective bargaining agreement or employment contract.
Retirement benefits under agreements must not be less than the prescribed minimum.
Without a retirement agreement, compulsory retirement age is set between 60 to 65 years.
Retirement pay minimum: half month salary for each year of service (fractions of 6 months considered as full year).
Definition of half month salary includes 15 days pay, 1/12th of the 13th month pay, and up to 5 days cash equivalent of service incentive leave.

Compulsory retirement age for underground and surface mine workers is reduced from 60 to 50 years.
Eligibility requires at least 5 years of service as underground or surface mine worker.
Surface mine workers include mill plant workers, electrical, mechanical, and tailings pond personnel.
Retail, service, and agricultural firms with 10 or fewer employees are exempted.
Violations of these provisions are unlawful and punishable under the Labor Code.

The law does not affect other retirement and welfare benefits employees may have under the Social Security Act and other company policies.

The numerical designation of Title II (Retirement), Book Six of the Labor Code is renumbered following Republic Act No. 10151 and Department of Labor advisory.

The Secretary of Labor and Employment will promulgate necessary implementing rules within 30 days of effectivity.
Coordination with the President of the Social Security System is mandated for rule formulation.

Section 12-B of the Social Security Act is amended to reflect the new retirement age of 50 for underground and surface miners.
Conflicting laws, decrees, and regulations are repealed or modified to align with this Act.

The Act takes effect 15 days after publication in the Official Gazette or a newspaper of general circulation.