WHEREAS, Republic Act No. 5059 provided for an annual life pension of Forty Thousand (P40,000.00) for every former President of the Philippines subject to certain conditions;

WHEREAS, although the annual life pension of widows of former Presidents under Republic Act No. 2087 was increased from Twenty-Four Thousand Pesos (P24,000.00) to Ninety-Six Thousand Pesos (P96,000.00), the annual life pension of former Presidents was increased to only Forty-Two Thousand Four Hundred Pesos (P42,400.00);

WHEREAS, the preservation of the dignity of, and the respect due to, the former occupants of the Presidency requires the upgrading of their economic status through the increase of their annual life pensions.

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do hereby order:

SECTION 1. Section 1 of Republic Act No, 5059 is hereby amended to read as follows:

"Section 1. The former President of the Philippines shall be entitled to a life pension, tax free, of Ninety-Six Thousand Pesos (P96,000.00) annually, payable at the rate of Eight Thousand Pesos (P8,000.00) monthly."

SEC. 2. This shall not include the incumbent President of the Philippines.

SEC. 3. The amount necessary to implement the increase in the life pension of a former President shall be charged against the Special Activities Fund for CY 1986.

SEC. 4. All laws, orders, issuances, rules and regulations, or any part thereof which are inconsistent with this Executive Order are hereby repealed or modified accordingly.

SEC. 5. This Executive Order shall take effect as of July 1, 1986.

DONE in the City of Manila, this 2nd day of March, in the years of Our Lord, nineteen hundred and eighty-seven.


By the President:

(SGD.) JOKER P. ARROYO
Executive Secretary