Memorandum Circular No. 133




MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES [ Memorandum Circular No. 133, October 16, 1967 ] PRESCRIBING CONDITIONS REGARDING APPLICATIONS FOR OPTIONAL RETIREMENT UNDER COMMONWEALTH ACT NO. 186, AS AMENDED BY REPUBLIC ACTS NO. 1616 AND NO. 4968, PAYABLE BY THE EMPLOYER. In order to attain maximum utilization of funds for vital and necessary projects according to priority, there is need for the programing of the expenditure of any available funds. In connection, however, with applications for optional retirement under the provisions of Commonwealth Act No. 186, as amended by Republic Act No. 1616 and further amended by Republic Act No. 4963, the retirement benefits thereunder are payable from the savings of the bureaus or offices concern generally not programmed. In view thereof and until further orders and pending the adoption of a policy on the matter, all such applications shall not be recommended for approval unless funds are available in the bureau or office concerned for the payment of the applicant’s retirement gratuity over and above the fund requirements f its programmed projects and activities, and provided any of the following circumstances pr conditions in present: 1. The employee-applicant has reached the compulsory retirement age of 65 years; or 2. The employee-applicant, if below 65 years of age, is physically incapacitated to render further efficient service.1âшphi1 All other applications for retirement under Commonwealth Act No. 186, as amended, where the retirement benefits are payable from the funds of the Government Service Insurance System, shall be given due course. This Order shall take effect immediately. By authority of the President: (SGD.) RAFAEL M. SALAS Executive Secretary Manila, October 16, 1967 The Lawphil Project - Arellano Law Foundation