Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. For purposes of this Act, Senior Veterans refer to the veterans of World War II, Korean and Vietnam wars.

SEC. 2. Increase in Old-Age Pension of Senior Veterans. - The old-age pension of veterans of World War II, Korean and Vietnam wars shall be increased to Twenty thousand pesos (P20,000.00) per month: Provided, That the veterans of Korean and Vietnam wars are not receiving pension from the Armed Forces of the Philippines (AFP): Provided, further, That the entitlement to the increase in old-age pension shall be limited to the eligible living senior veterans and shall not be transferable to any family members and/or dependents of the senior veterans.

SEC. 3. Funding. - In order to augment, the amount. needed to fund the increase in the old-age pension as provided in this Act. the amount necessary for the initial implementation shall be charged against the current year's available appropriation of the Philippine Veterans Affairs Office (PVAO). Thereafter, such sums as may be needed for the continued implementation, of this Act shall be included in the annual General Appropriations Act: Provided. That the PVAO shall prioritize the distribution of the benefits granted under this Act from whatever available appropriation that will be included in the annual General Appropriations Act.

SEC. 4. Repealing Clause. - All existing laws or parts thereof inconsistent with the provisions of this Act are hereby repealed or modified accordingly.

SEC. 5. Effectivity Clause. - This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in at least two (2) national newspapers of general circulation.

Approved,

(SGD.) GLORIA MACAPAGAL-ARROYO Speaker of the House of Representatives

(SGD.) VICENTE C. SOTTO III President of the Senate

This Act was passed by the Senate of the Philippines as Senate Bill No. 1766 on October 8, 2018 and adopted by the House of Representatives as an amendment to House Bill No. 7525 on October 10 2018.

(SGD.) DANTE ROBERTO P. MALING Acting Secretary General House of Representatives

(SGD.) MYRA MARIE D. VILLARICA Secretary of the Senate

Approved: DEC 20 2018

(SGD.) RODRIGO ROA DUTERTE
  President of the Philippines