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PRESIDENTIAL DECREE NO. 1692
PRESIDENTIAL DECREE NO. 1692 -
FURTHER AMENDING TITLE II, BOOK FOUR OF THE LABOR CODE OF THE
PHILIPPINES (PD 442, AS AMENDED)
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WHEREAS,
Paragraph (e) of Article 177 of PD 442, as amended further by PD 1641,
provides, among others, that the Employees Compensation Commission may
upgrade benefits and add new ones, subject to approval of the
President, provided that the actuarial stability of the State Insurance
Fund shall be guaranteed, and that such increase in benefit shall not
require any increase in contribution, except as provided for in
paragraph (b) thereof;chanroblesvirtualawlibrary
WHEREAS, income benefits for secondary beneficiaries have been found
rather too low considering that the same are based on one lump sum
payment, whereas primarily beneficiaries enjoy life pension; and
WHEREAS, upgrading the benefits structure for secondary
beneficiaries is necessary in the light of the gradual erosion of the
value of the peso and in order to cushion the harsh effect of inflation.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President and Prime Minister of
the Republic of the Philippines, by virtue of the powers vested in me
by the Constitution, do hereby order and decree: chanroblesvirtualawlibrary
Section 1. Article 194 of PD 442, as amended, is
hereby further amended, to read as follows:cralaw:red
"Art. 194. Death. — (a) Under such regulations as the
Commission may approve, the System shall pay to the primary
beneficiaries upon the death of the covered employee under this Title
an amount equivalent to his monthly income benefit for as long as the
beneficiaries are entitled thereto, plus ten percent thereof for each
dependent child, but not exceeding five, beginning with the youngest
and without substitution: Provided, however, That the monthly income
benefit shall be guaranteed for five years: Provided, further, That if
he has no primary beneficiary, the System shall pay to his secondary
beneficiaries a lump sum equivalent to sixty times the monthly income
benefit: Provided, finally, That the minimum income benefit shall not
be less than twelve thousand pesos; chanroblesvirtualawlibrary
"(b) Under such regulations as the Commission may
approve, the System shall pay to the primary beneficiaries upon the
death of a covered employee who is under permanent total disability
under this Title, eighty percent of the monthly income benefit for as
long as they are entitled thereto, and his dependents to the
dependents' pension: Provided, that the marriage must have been validly
subsisting at the time of disability: Provided, further, That if he has
no primary beneficiary, the System shall pay to his secondary
beneficiaries a lump sum benefit equivalent to sixty times the monthly
pension, excluding the dependents' pension: Provided, finally, That the
lump sum benefit shall not be less than twelve thousand pesos."
Section 2. The funds necessary to implement this
Decree shall be drawn from the resources of the State Insurance Fund.
The implementation of this Decree shall not involve an increase in
employer or employee contributions and in the event that the Fund is
unable to immediately support the additional benefits, implementation
shall be phased by the Employees' Compensation Commission so as to be
within the capability of the Fund.
Section 3. This Decree shall take effect immediately.
Done in the City of Manila,
this 1st day of May, in the year of Our Lord, nineteen hundred and
eighty.
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