REPUBLIC ACT NO. 1570 - AN ACT PROVIDING FOR THE RETIREMENT OF THE PRESENT SECRETARY OF THE HOUSE OF REPRESENTATIVES.

[ REPUBLIC ACT NO. 1570, June 16, 1956 ]

AN ACT PROVIDING FOR THE RETIREMENT OF THE PRESENT SECRETARY OF THE HOUSE OF REPRESENTATIVES.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. In consideration of the extraordinary services rendered by the present Secretary of the House of Representatives to the Government for nearly half a century, he may retire under this Act, and upon his retirement, he shall be automatically entitled to a lump sum payment equivalent to his salary in the House of Representatives for five years on the basis of the monthly salary he was receiving in the House of Representatives at the time of his retirement, and thereafter upon the expiration of five years from the time of his retirement, to a further annuity payable monthly during the residue of his natural life equivalent to his said monthly salary, which lump sum and annuity shall not be subject to attachment, levy, execution, or any tax whatsoever. The retirement benefits provided for herein shall be in lieu of the retirement benefits to which he is entitled under the Government Service Insurance Act, as amended.

SEC. 2. The Government Service Insurance System shall take charge of the execution of this Act.

SEC. 3. The sum necessary to carry out the provisions of this Act is hereby appropriated out of any funds in the National Treasury not otherwise appropriated.

SEC. 4. This Act shall take effect upon its approval.

Approved, June 16, 1956.