Approving the Adoption of the Manner of Computing SS Pension Under the SS Law, Particularly the Pension Formula and the Definitions of AMSC and CYS, in the Prospective Computation of EC Pension

June 23, 2015ECC BOARD RESOLUTION NO. 15-06-30APPROVING THE ADOPTION OF THE MANNER OF COMPUTING SS PENSION UNDER THE SS LAW, PARTICULARLY THE PENSION FORMULA AND THE DEFINITIONS OF AMSC AND CYS, IN THE PROSPECTIVE COMPUTATION OF EC PENSIONExcerpts from the Minutes of the Fifth (5th) Regular Commission Meeting, Employees' Compensation Commission, Series of 2015, Convened at ECC Multi-Purpose Hall, 4th Floor, ECC Bldg. 355 Sen. Gil J. Puyat Avenue, Makati City, Tuesday, 23 June 2015 at 12:00 N.N.WHEREAS, under Letter of Instruction (LOI) No. 1286 dated 30 January 1983 it partly states that: HTcADC". . . . every time the SSS and GSIS increase the monthly income benefits for non-work-related contingencies, such increases in monthly income benefits shall be automatically and simultaneously applicable to the monthly income benefits for employment-related contingencies under P.D. 626, as amended, so as to maintain the fifteen percent (15%) and twenty percent (20%) benefit differentials for SSS and GSIS pensioners, respectively, as provided for by law, Provided, that the liquidity and stability of the State Insurance Fund shall not, in...