Section 3
SEC. 3. There shall be paid to those officers and enlisted men of the Philippine Constabulary who have been retired from the service, or their dependents, in lieu of the pensions they are now receiving from the Pension and Retirement Fund of the Constabulary, the following reduced amounts: During the first year after the date of the approval of this Act, a pension equivalent to one and five tenths per centum of the average basic salary, received during the last three years preceding retirement, but not exceeding six thousand pesos per annum, multiplied by the number of years of service rendered; during the second year, one and three tenths per centum; and thereafter, one per centum.; while to their dependent as defined in the laws creating the aforementioned pension and retirement fund, the pension shall be in accordance with said laws, for a period not exceeding ten years: Provided, however, That the Board, with the approval of the Secretary of Finance, may at any time suspend or cancel the payment of any pension whenever, after due investigation, it shall have found that the amount of pensions already received by the retired officer or enlisted man, or his beneficiaries is more than twice the amount of his contributions to the fund plus 4% interest per year, compounded annually: Provided, further, That the said retired officer or enlisted man or his beneficiaries are not dependent upon their pensions for their maintenance: Provided, further, That the pensions to retired officers who are now at least sixty-five years of age, or suffering permanent physical disability, to retired enlisted men, and to those retired for disability incurred in the performance of duty, as well as to their dependents, and to the dependents entitled by law to receive pensions of those killed in the performance of duty, shall continue at the rates prescribed by the pension -laws which have heretofore embraced them: Provided, further, That in no case shall the total amount of the reduced pension payable hereunder, exceed the benefit that is being received at present under the provisions of the Constabulary Pension and Retirement Fund Act: Provided, further, That any decision of the Secretary of Finance regard- -ing suspension or cancellation of the payment of pension shall be appealable to the President of the Philippines: And provided, finally, That the pensions mentioned in this -Act shall not be subject to any tax, levy or attachment and shall be paid from the sum appropriated for the aid to the Philippine Army Pension Fund for nineteen hundred thirty-seven, and, annually thereafter, from the annual appropriation for the Philippine Army.