The Linux Professional Institute Inc. (LPI) is a non-profit organization that provides vendor-independent professional certification for Linux system administrators and programmers.
The exams cover a range of different Linux based topics. The exam are available in almost every country in the world, and are translated into a number of different languages.
Keith Winston has published article which explains why new LPI policy is bad.
Old policy, old LPI
The original LPI policy recognized the corruption in the certification "business". Regarding expiration of certifications, the original LPI position was that certifications were good for a lifetime.
New policy, new LPI
The recent change in expiration policy is not the first. A few years into the program, LPI officially changed the policy on expiration so that certifications expired after 10 years. This concerned me a little, but a lot can change in that amount of time so it didn't seem unreasonable.
Now, LPI recommends that certification tests be taken every two years with a forced expiration after five years. ...
Read rest of more reasons why the policy is bad ...
In tech industry certification holds good value and almost all hiring companies demands some sort of certification. Personally I hold RHCE apart from other networking certificates. Red Hat is leader in an enterprise Linux environment and it does help when you want to get good job.