The proposal that aims to lower the optional retirement age of civil servants from 60 to 56 years old is gaining traction in Congress. After the approval on Third Reading of its counterpart bill in the House of Representatives, Senator Bong Revilla recently sponsored the measure, Senate Bill No. 2444, in the Senate.
This proposal has garnered strong support from various quarters, including the Government Service Insurance System (GSIS).
Senator Revilla explained why it holds tremendous significance for civil servants and the nation at large.
It meets civil servants’ aspirations. According to him, the proposal is a response to the appeals of numerous civil servants who yearn to enjoy their retirement years earlier, allowing them more quality time with their loved ones.
Backing from the Civil Service Commission. The endorsement is pivotal since the CSC plays a central role in safeguarding the welfare of civil servants.
Financial Feasibility for GSIS. An essential aspect of this proposal concerns its potential impact on the GSIS. However, GSIS data reveals that the majority of eligible government workers already retire, on average, two years after becoming eligible at the age of 60. Senator Revilla stated that even if half of those eligible for the lowered retirement age choose to retire early, it would still constitute a small percentage of the overall government workforce. This indicates that the actuarial life of GSIS would be minimally affected, if at all. Therefore, the financial stability of GSIS remains secure, and this proposal poses no undue risk to its sustainability.
Alignment with international standards. The proposed retirement age of 56 aligns with the retirement ages of military and police personnel and conforms to international norms. The United Nations Principles for Older Persons emphasize policies that empower older individuals to decide when and at what pace they retire. Lowering the retirement age grants government workers the freedom to choose when they wish to transition into retirement.
Regional comparison. The Philippines currently has one of the oldest retirement ages among ASEAN nations, with civil servants retiring later than their peers in neighboring countries like Malaysia, Singapore, Thailand, and Vietnam. This shift urges us to adapt our retirement age to remain competitive regionally.
A brighter future for younger generations. Reducing the retirement age creates opportunities for younger Filipinos aspiring to work in government service. With a youthful and growing population, we can welcome fresh, skilled individuals into the public sector. This ensures the continuity and vitality of our civil service.
The freedom to choose. Ultimately, this proposal empowers civil servants with the choice to retire earlier if they wish. It allows them to spend more quality time with family while still in good health. Let us rally behind this initiative and extend to our dedicated civil servants the option to retire earlier, granting them the well-deserved pensions they’ve earned while embarking on new adventures and creating cherished moments with their loved ones. (INSITES by: JOJI CODILLA)
