PRA ordered to junk policy that allows 35-yr-old retirees in PH

Tourism Secretary Bernadette Romulo-Puyat directed the Philippine Retirement Authority (PRA), an agency under the Department of Tourism (DOT), to scrap its current policy of allowing foreign nationals to be as young as possible 35 years old to stay in the Philippines as retirees.

“I have directed a general manager (Bienvenido) Chy of the PRA to review and change this long-standing policy. We will move for its immediate repeal,” Puyat said in a text message to reporters on Wednesday.

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Senators earlier expressed alarm after learning that PRA allowed 28,000 Chinese nationals to stay in the country as retirees, noting this could be a security threat to the Philippines.

Chy told the senators during the DOT’s budget hearing that it has been PRA’S standing policy that foreign nationals who are at least 35 years old could avail of retirees’ privileges if they have at least $50,000 (about P2.5 million) cash on hand.

Senator Richard Gordon was fumed to learn about the “retirees” who are as young as 35.

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“It upsets me na kung sino lang ang dumating dito, 35 years old, papayagan mag-retire dito,” Gordon told the PRA.

PRA ordered to junk policy that allows 35-yr-old retirees in PH

“That, to me, is dangerous. I’m disturbed by it…We’re not just going to monitor it; we’re going to correct it. Because 35 is just too young. Not to cast aspersions upon our neighbor, would they allow us to retire at 35 there? I don’t think they would even allow us to retire in China,” Gordon said.

Senator Nancy Binay asked Chy why their agency allowed foreign nationals that are as young as 35 years old to stay in the Philippines as retirees.

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“We start from 35 [years old] and up,” Chy responded.

The PRA data showed that the top foreign retirees staying in the country are mainland Chinese, with 27,678, followed by Koreans with 14,144.

“The reason for the 35 years of age is in Korea, the military would retire at the age of 35, and these are retirees who would avail of this program,” Chy said.

“This has been the practice when I came in, this has been passed upon the Board of Trustees, and just a continuing program,” he added.

However, Binay raised the possibility that the said Chinese retirees worked for Philippine offshore gaming operators (POGOs).