Bill lowering gov’t retirement age to 56 passed on 3rd and final reading
House Bill 8683 An Act Lowering the Optional Retirement Age of Government Workers from 60 Years to 56 Years has been approved on third and final reading by the House of Representatives.
FULL SCRIPT OF THE HOUSE BILL AS FILED - READ
The bill has passed on third and final reading this week. It aims to allow government workers to exercise the option to terminate their employment without substantial loss to their monthly income.
The bill seeks to amend Section 13-A of Republic Act 8291, otherwise known as the "Government Service Insurance Act of 1997.”
FULL SCRIPT OF THE HOUSE BILL AS FILED - READ
The amendments to Section 13-A entitled Conditions of Entitlement provide that a GSIS member who retires from the government service shall be entitled to the retirement benefits in paragraph (a) of Section 13 hereof, provided that such member :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.
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