From 60 years old, government employees may soon retire at 56 if the Senate agrees with the bill passed by the House of Representatives and it is signed into a law by the President.
House Bill No. 206, a consolidation of 13 related measures, is entitled, “An Act lowering the optional retirement age of government workers from sixty years to 56 years, amending for the purpose Section 13-A of Republic Act 8291, otherwise known as The Government Service Insurance System Act of 1997,” provides members full entitlement of retirement benefits if he or she is not receiving any monthly pension, has at least 15 years of service and is 56 at the age of retirement.
Romualdez said the proposed law will give more than one million workers in the government the choice to retire early.
“They can opt to quit working, receive their benefits, do their activities, and enjoy life in retirement with their loved ones even before they become senior citizens,” he said.
The measure was overwhelmingly approved by the majority, gaining a total of 268 affirmative votes with only one negative and one abstention.
Photo Credits to House of Representatives Photo
The bill has been approved on third and final reading at the House of Representatives and will soon be endorsed into the Senate for delviberation.
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