SECTION 1. Section 5 of Republic Act No. 6948, as amended, is hereby further amended to read as follows:
"SEC. 5. Pension Rates. - A veteran who is disabled owing to sickness, disease, wounds or injuries sustained in line of duty shall be given a monthly disability pension in accordance with the rates prescribed hereunder:
(a) If and while the disability is rated anywhere from ten to thirty per centum (10% - 30%), the monthly pension shall be Four thousand five hundred pesos (P4,500.00);
(b) If and while the disability is rated anywhere from thirty-one to forty per centum (31% - 40%), the monthly pension shall be Five thousand three hundred pesos (P5,300);
(c) If and while the disability is rated anywhere from forty-one to fifty per centum (41% - 50%), the monthly pension shall be Six thousand one hundred pesos (P6,100.00);
(d) If and while the disability is rated anywhere from fifty-one to sixty per centum (51% - 60%), the monthly pension shall be Six thousand nine hundred pesos (P6,900.00);
(e) If and while the disability is rated anywhere from sixty-one to seventy per centum (61% - 70%), the monthly pension shall be Seven thousand seven hundred pesos (P7,700);
(f) If and while the disability is rated anywhere from seventy-one to eighty per centum (71% - 80%), the monthly pension shall be Eight thousand five hundred pesos (P8,500.00);
(g) If and while the disability is rated anywhere from eighty-one to ninety per centum (81% - 90%), the monthly pension shall be Nine thousand three hundred pesos (P9,300.00);
(h) if and while the disability is rated anywhere from ninety-one to one hundred per centum (91% - 100%), the monthly pension shall be Ten thousand pesos (P10,000.00); plus One thousand pesos (P1,000.00) for the spouse and each unmarried minor children: Provided, That a veteran, upon reaching the age of seventy (70) and not receiving disability pension under this Act, is deemed disabled and shall be entitled to a monthly pension of One thousand seven hundred pesos (P1,700.00) only: Provided, further, That the entitlement to the disability pension authorized herein shall be prospective and limited to eligible living veterans only."