Section 2
SEC. 2. Section 12 of Republic Act No. 1161 is hereby amended to read as follows: "SEC. 12. Monthly pension—(A) The monthly pension shall be the sum of the basic monthly amount and the graduated increment. "(1) Basic Monthly Amount—The basic monthly amount shall be one hundred fifteen per cent of the sum of the following: "Forty-five per cent of the first three hundred pesos of the average monthly salary credit or fraction thereof; "Twenty-five per cent of the next three hundred pesos of the average monthly salary credit or fraction thereof; "Nine per cent of each succeeding one hundred pesos of the average monthly salary credit or fraction thereof; "One tenth of one per cent of the average monthly salary credit for each monthly salary credit for each monthly contribution in excess of one hundred twenty and paid prior to the semester of contingency." "(2) Graduated Increment—The graduated increment shall be equal to seven and seven-tenths per cent of the result obtained by subtracting the basic monthly amount from three hundred forty pesos Provided, That the increment shall not be less than ten pesos. "(B) The monthly pension shall in no case be less than one hundred pesos nor paid for less than sixty months except to a secondary beneficiary: Provided, That this monthly pension shall be the new amount of the monthly pension for surviving pensioners beginning January, 1978."