Remengesau halts pension plan contribution hike

BY BERNADETTE H. CARREON

Palau Correspondent

KOROR, Palau — President Tommy E. Remengesau Jr. on Dec. 20 rejected the move by the Civil Service Pension Plan board of trustees to increase contributions by an additional 2% for employees and employers.

Remengesau’s decision stopped the proposed increase of contributions from taking effect Jan. 1.

He said the increase would be drastic and comes with less than two weeks of notice. Remengesau said raising employee contributions by 2% of gross pay would represent a more than 30% increase on current contributions, with less than two weeks’ notice.

“Considering the large impact such . . .

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