DOT chief Puyat expects policy changes after review of retirement visa rules

Tourism Secretary Bernadette Romulo-Puyat on Monday said she is expecting policy changes after a review of the Philippine Retirement Authority's (PRA) rules on issuing retirement visas.

Puyat said she gave the PRA two weeks to review the policy and study other countries' retirement programs after it was revealed that Chinese nationals as young as 35 years old are being allowed to retire in the Philippines.

Applications for new Special Resident Retiree's Visas (SRRVs) are suspended in the meantime.

"We will find out in two weeks, but of course we will have policy changes —regarding the age, etc, and then 'yung joining fee which I also questioned, lahat 'yun, we expect policy changes," Puyat said in an interview on Dobol B sa News TV.

But she said they have to make informed changes, hence the two-week review.

She explained that the 35-year-old retirement age has been in place since 1993.

"It's about time kasi 1993 pa naman yan, 'yung 35 years, it's about time na talaga to update kung dapat baguhin na rin talaga," the secretary said.

She said the review also aims to strengthen the monitoring of SRRV holders in the country.

Senator Richard Gordon last week raised concerns on the Philippines' SRRV policy, saying 35 is too young. He said this could pose risks to national security.

Senator Nancy Binay for her part said there is a high probability that these 35-year-old retirees are working in the country.

Data from the PRA showed that there are 27,678 Chinese retirees in the Philippines—the highest among over 100 nationalities who chose the country as their retirement destination. Korean nationals placed second at 14,144, followed by Indians at 6,120. —KBK, GMA News