A House bill is seeking changes in the mandatory retirement limits for civil service employees, allowing those who have served 30 years to choose to retire.
House Bill 11-94-10S is proposing an adjustment to the requirements for the mandatory age retirement limits.
The bill said it will provide options for civil service employees to retire after 30 years of service even if they have not reached the age of 60.
“As more and more Palauan youths graduate from college and seek employment, it is vital that there are job openings in the civil service where they may be of service to their community and country,” the bill stated.
The HOD said there are Palauans who start work immediately upon graduating high school and stay in Palau and contribute to the civil service for 30 years, all before turning 60.
These people, HOD said have earned a retirement and pension benefits.
The required retirement age is at 60 but if the law is passed, those that already served 30 years can opt to retire.
Meanwhile, proposals to help secure future sustainability of both Civil Service Pension Plan and Social Security Administration Retirement Funds recommend increasing retirement age to 65 in order to keep the two programs from collapsing within the next 10 to 15 years. (Island Times)