GOVERNMENT is looking to lower the minimum age of foreign retirees in the Philippines, this time with tighter security background checks of applicants. In a message to the BusinessMirror, newly elected general manager and CEO of the Philippine Retirement Authority (PRA), Roberto Z.
Tourism and marketing veteran Roberto Z. Zozobrado takes his oath of office as the new Philippine Retirement Authority general manager and CEO from Tourism Secretary Christina Garcia Frasco on February 15, 2024. He said the government post was a ‘dream come true’ for him after having worked in various sectors of the tourism industry.
In a message to the BusinessMirror, newly elected general manager and CEO of the Philippine Retirement Authority , Roberto Z. Zozobrado said, “We’ll try to push again for the lowering of the retirement age, but since security was the main argument against it, we’ll find a way to propose a selective method that will consider the security factor with the help of the Bureau of Immigration .”
But Zozobrado explained, “Lowering the age, just like what Thailand has done, translates to an increase in the economic benefits of our Retirees Program.” Thailand has been promoting itself as a retirement haven and offers a special visa for foreign retirees of at least 50 years old.“During the PRA Board Meeting , I was made aware of our inadequacies compared to our neighboring countries,” he said. “ But that’s not to say that we’re lagging way behind them.
Asked if lowering the minimum retirement age was critical instead of implementing a better marketing scheme to promote the country as a retirement haven, he explained, “It’s not just the marketing that has to be attended to. We also have to coordinate with BI to make the visa processing seamless and faster through digitalization, and work on needed infrastructure, etc. We have a lot of soil to till.
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