CSC: Scrapping mandatory retirement age would affect GSIS fund life

Scrapping the mandatory retirement age of 65 would affect the pension fund and budget for other benefits for future retirees, Civil Service Commissioner Aileen Lizada said Wednesday. , which amends the Labor Code by adding a provision that “an employee who reached the age of 65 years can choose to continue their employment provided that he qualifies under the bona fide occupational qualifications of his job.

"I believe so...[that] the retirement benefits will be affected," Lizada said in a CNN Philippines interview.Lizada, however, clarified that Republic Act 8291, which provides the mandatory retirement age, allows those older than 65 to continue working in the government provided that they are still capable and are on contract of service status.

"Let us be clear, the 65 [mandatory retirement age] is for government service. Those in excess of 65 years of age can still continue working if it is a position of confidence such as a consultant or under contract of service," Lizada pointed out.Lizada also said that when CSC conducted consultations on what should be the mandatory age of retirement back in 2019, an overwhelming majority even responded that they wanted to retire ahead of the existing optional retirement age of 60.

"Ninety-eight to 99 percent of them said they even want lowering the optional retirement age to 56 from 60. Pagod na ho ang tao, burnout na [They are already tired and spent]," Lizada said. Pressed about the elderly seeking employment beyond 65 years old due to low retirement benefits, Lizada said the GSIS law has to be complied with unless Congress decides to amend it.

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