I collected the following information from VMware official site.
At the time we gave all certification holders a one-year grace period, which ends on March 10, 2015.
As we have talked to customers and partners, we realized that some of our partners (who employ many VCPs) may have not had enough notification to pull their VCPs out of the field/office with sufficient time to get them recertified. Additionally, we were notified that there were some myLearn system issues this weekend that may have impacted some candidate’s ability to log in and get authorized to take an exam.
For these two reasons, we are giving everyone a short extension of the grace period–extending the deadline until May 8, 2015.
I know that this may frustrate some people who worked hard to meet the original deadline on time (i.e. recertifying between March 10, 2014 and March 10, 2015). We therefore want to thank each of you who acted early by allowing you to upgrade your certification to VCP6 (via a VCP6 migration exam) for 65% off (normal retail price is $225 USD). To take advantage of this offer, you must take the exam by August 31, 2015. As we finalize the details we will contact you directly with details of how to claim your discount, as well as provide more information here.
We’ll also soon be publishing detailed information about the new certifications and migration paths on this blog. As the certifications, exams, and related training courses are released publicly, we will also update our website and announce them here on this blog.