Tuesday, October 23, 2007 Retirement age of 70 for workers proposed
A LAWMAKER has filed a bill seeking to peg at 70 years the retirement age for employees both in government and private sector.
Sorsogon Representative Salvador Escudero III, author of House Bill (HB) 2790, said employees can stay longer than 65 years as long as they are willing and physically able to perform their duties.
“Our employees in both the government and the private sector are chiefly diligent, hardworking individuals who exert all their efforts, talents and skills in their chosen profession,” Escudero said.
Under the present law, the maximum retirement age for government and private sector is 65 years old.
“The accumulated years of service while holding various positions has provided these veteran employees the benefit of passing to their subordinates the tricks of the trades,” he said.
“This is an essential resource that a company could not simply dispense with, especially if the said employee has been at the forefront of the company’s success,” Escudero said.
Escudero said the employees will have the chance to work for additional five years after their 65th birthday to sustain the economic needs of their dependents. (Sunnex)
