The document summarizes the amendments made to Article 287 of the Philippine Labor Code regarding retirement benefits for private sector employees. Key points include: - Article 287 was amended in 1993 and 1998 to establish a minimum retirement benefit for employees in the absence of a retirement agreement and to include underground mining workers. - Employees are entitled to retire optionally at age 60 or compulsorily at age 65 if they have served at least 5 years, and must receive at least half a month's salary for each year of service as retirement pay.

1. Article 287, Title II, Book 6, Labor Code Retirement from the Service Report by: Maam Lumanglas IR 207.2, UP-SOLAIR, 6 October 2007

8. Definition of Retirement

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