Philippines Retirement Pay Calculator (RA 7641)
Enter your daily rate and years of service to estimate your minimum statutory retirement pay.
Philippines Retirement Pay Calculator (RA 7641)
Estimate the statutory minimum retirement pay for a retiring private-sector employee.
Under RA 7641, a qualified retiring private-sector employee (at least 60 years old, with at least 5 years of service, absent a more generous company plan) is entitled to a minimum retirement pay equivalent to 22.5 days’ pay for every year of service.
Example
- With the default values shown above, this calculator returns: Minimum Retirement Pay ≈ PHP 270,000.00.
Frequently Asked Questions
Who qualifies for RA 7641 retirement pay?
A private-sector employee who is at least 60 years old (optional retirement) or 65 (compulsory), with at least 5 years of service, and who has no separate, more generous retirement plan with their employer.
Why 22.5 days per year, not 30?
The law defines “one-half month salary” to include 15 days’ pay, plus the cash equivalent of 5 days of service incentive leave, plus 1/12 of the 13th month pay — which together total 22.5 days.