WHILE he is not against the reduction of the retirement age at 56 from 60 years old, Governor Eugenio Jose Lacson advises the retirees to just save for the future.
“What I am afraid of is that because they are healthy, they’re gonna enjoy too much and may spend their retirement fees and when they get old when some sickness comes they may have nothing to spend anymore. So better save for the future,” Lacson said.
The House of Representatives overwhelmingly approved on third and final reading a measure lowering the optional retirement age of government employees from 60 to 56.
With 192 affirmative votes, zero negative votes, and no abstention, the chamber passed House Bill 5509, which seeks to amend Section 13-A of Republic Act 8291, otherwise known as the “Government Service Insurance (GSIS) Act of 1997.”
Government workers who have reached the age of 56 years may file for retirement and be entitled to an old-age pension for life from the GSIS. (TDE)