Preamble
WHEREAS, an Armed Forces Retirement and Separation Benefits System, for payment of retirement and separation benefits provided under law to military members of the Armed Forces of the Philippines, was established pursuant to PD 361; WHEREAS, the circumstances impinging on the military establishment have drastically changed since the promulgation of PD 361 and its full implementation if effected will cause the early collapse of the System; and WHEREAS, it is necessary to amend certain provisions of PD 361 in order to perpetuate the actuarial solvency of the System, and guarantee to every military member of the AFP all the retirement and separation benefits due him under existing laws and such other similar laws as may hereafter be enacted; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following: