This is according to Executive Order (EO) 145 signed in 1987.
Apparently, all former presidents of the Philippines (not including the incumbent one) is entitled to receive P96,000 of tax-free pension for life.
The amount of life pension is payable at a rate of P8,000 monthly.
The amount was increased from P42,400 annually to P96,000 annually according to EO.
The EO was signed by late President Corazon Aquino.
I didn’t know that former presidents had life pension, but that is just a humble amount, I guess.
What do you think of this?Â
