05
Jan
Retirement Pay Under the Labor Code Sample Computation
Retirement has been defined as a withdrawal from office, public station, business, occupation, or public duty. [Brion vs. South Philippine Union Mission Of The Seventh Day Adventist Church, G.R. No. 135136 May 19, 1999] It is the result of a bilateral act of the parties, a voluntary agreement between the employer and the employee whereby the latter, after reaching a certain age, agrees and/or consents to sever his employment with the former. [Soberano vs. Secretary of Labor, 99 SCRA 558 [...]