House OKs bill lowering retirement age of GSIS members to 56
MANILA, Philippines — The House of Representatives on Monday approved on third and final reading a bill amending the Government Service Insurance Act of 1997, which would allow government workers to retire at age 56.
Two hundred and six congressmen unanimously voted to approve the House Bill No. 8683, which seeks to amend Section 13-A of Republic Act No. 8291, lowering the optional retirement age for government employees from 60 to 56.
The amendments specifically provide that members of the Government Service Insurance System who retire from service should be entitled to retirement benefits if they have rendered at least 15 years of service, is at least 56 years of age at the time of retirement, and is not receiving a monthly pension benefit from permanent total disability.
The House Committee on Government Enterprises and Privatization approved the bill, which was principally authored by ACT Teachers Reps. Antonio Tinio and France Castro last Nov. 15. /atm
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