Tag Archives: retirement plan philippines
Yes, provided it is found in the existing employment agreement or contract between the employer and employee.
The retirement age is primarily determined by the existing agreement or employment contract. Absent such an agreement, the retirement age under Article 287 of the Labor Code will apply. Article 287 mentions the age of at least 60 years but not over 65 years old as the retirement age of employees when there is no retirement plan or contract provision on the matter.
In fact, in a recent case decided by the Supreme Court, it ruled that: