LawsLeaving work
Retirement Pay Law (RA 7641)
The law that gives retirement pay to private employees with no better plan, at 60 to 65 after 5 years.
Most useful for: Career shifter
- In real life
- Half a month's pay per year of service, which the law counts as 22.5 days: ₱620,689.50 after 20 years on ₱30,000.
- Why it matters to you
- Retail, service and farm businesses with 10 workers or fewer are exempt.
An explanation to help you read your pay, not a ruling on your case. Your employer, the agency or DOLE has the final word.