Proposed law to lower optional retirement age to 56

The House of Representatives on Monday unanimously approved on Third and Final reading, with 192 affirmative votes, House Bill No. (HB) 5509 which seeks to lower the optional retirement age of government employees from 60 to 56 years old by amending Republic Act No. (RA) 8291, otherwise known as “The Government Service Insurance System (GSIS) Act of 1997.”

Principally authored by Rep. Alfredo Garbin Jr. (Party-list, AKO BICOL), the bill aims to allow government workers to exercise the option to terminate their employment at an earlier age without any substantial loss to their monthly income.

When signed into law, it shall particularly amend Section 13-A of RA 8291. This shall allow a GSIS member who retire from service to be entitled to GSIS retirement benefits given that he or she 1)  has rendered at least 15 years of service; 2)  is at least 56 years of age at the time of retirement; and 3) is not receiving a monthly pension benefit from permanent total disability.

In addition, the provisions of this bill shall also apply to all qualified members who have retired or separated from service prior to the proposed law’s  effectivity.

According to authors of the bill, the measure would promote healthcare to government workers. It would also enable government workers to enjoy the fruits of their labor at a younger age after retirement and fully maximize other opportunities after retirement.The measure substituted HB 86 authored by Garbin, HB 221 authored by Reps. France Castro (Party-list, ACT TEACHERS), Carlos Isagani Zarate (Party-list, BAYAN MUNA), Ferdinand Gaite (Party-list, BAYAN MUNA), Eufemia Cullamat (Party-list, BAYAN MUNA), Arlene Brosas (Party-list, GABRIELA) and Sarah Elago (Party-list, KABATAAN), HB 380 by Rep. Manuel Zamora (1st District, Compostela Valley), HB 529 by Joseph Stephen Paduano (Party-list, ABANG LINGKOD), HB 1501 by Rep. Edgar Chatto (1st District, Bohol), HB 2681  by Rep. Lorna Silverio (3rd District, Bulacan), HB 3026 by Rep. Wilter Wee Palma II (1st District, Zamboanga Sibugay), HB 3921 by Rep. Mercedes Cagas (Lone District, Davao del Sur), and HB 3997 by Rep. Tyrone Agabas (6th District, Pangasinan).

SOURCE: House approves bill lowering optional retirement age of government workers to 56. Press and Public Affairs Bureau. House of Representatives. 17 December 2019 12:16:34 PM.

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