As per
Republic Act No. 7641, Employers are required to pay retirement benefits to their
employees, in the private sector, regardless of their position, designation or status and irrespective of the method by which their wages are paid, except to those listed under the exemptions.
"... an employee upon reaching the age of sixty...
Article 287 of the Labor Code, as amended by Republic Act No. 7641, provides:
Retirement Plan. Credits: s_falkow
"Article 287. Retirement. – Any employee may be retired upon reaching the retirement age established in the collective bargaining agreement or other applicable employment contract.In case of retirement, the employee shall...
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