By: L.N. Reklai Koror, Palau — President Surangel Whipps Jr. has received the United States’ $20 million grant for Palau’s struggling Civil Service Pension Plan, but the funds come with a key condition: Palau must enact pension reform within one year. President Surangel Whipps Jr. received $20 million grant that was pledged by the United […]
Tag: Pension Plan
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Private sector to join pension plan bill proposed
House bill 10-126-13 adopted in the first reading last week, seeks to bring private sector employees and employers into the government pension plan fund. The bill findings stated that actuarial study conducted in 2019 on the government Pension Plan showed that by 2023 to 2025, current pension funds will be depleted. The bill further states […]