Margarita Borja Dalton, sitting farthest right, has 3 former employees that are nearing retirement age. It is 62 years now effective Oct. 15, 2015. They are Wilfredo Medalla, Sr., squatting at right, Roberto Hernandez, squatting at left, and Alicia Medalla, 4th from right (back row). The Medalla couple are now in Philippines.
(Photo by Roberto Hernandez -- Taken by Debbie Toribiong)
PALAU RETIREMENT AGE IS NOW 62 YEARS
EFFECTIVE OCT. 15, 2015
ON JUNE 10, 2014, Roberto Hernandez went to the Social Security Administration office to check his INDIVIDUAL WAGE HISTORY With Taxes Paid.
This is the summary:
I was informed that the retirement age will be 62 years effective Oct. 15, 2015. I WILL MISS IT BY 2 AND A HALF MONTHS!
The bold figures indicate that my former employer for 13 years, Margarita Borja Dalton, didn't post Social Security payments from 1998-2003 (6 years).
That 6 years of unpaid dues will really affect my future pension. The Administrator is in a very important meeting at that time so I was not able to talk to him.
Eight days later, I was able to talk to the Administrator, Mr. John Markub.
He also said that the non-payment of Margie will really affect my pension and that he talked to her already about it and they agreed that Margie will try her best to settle the unposted wages even by installment.
About the newly approved law that 62 years is now the retirement age, he said I can opt for 60 years retirement benefits but with 12% less on the 60th year, 6% less on the 61st year and complete benefits on the 62nd year.
Mr. Markub also said that in case that Palau Royal Resort will not renew me for another 2 years, I can go home and when I reach the age of 62, I can get my monthly pension but I have to show myself in Palau every 6 months to be eligible in getting monthly pension.
The other choices are -- 1. Get a release from PRR and apply to other places and work for another 2 years while waiting for retirement age. I can still continue working and still receiving pension for more income.
2. Come back to Palau as missionary but I must have a permit as residence of Palau to be eligible for pension.
Thirty eight (38) total quarters must be posted to be eligible for Social Security pension. I've got 56, not including the 23 that Margie hadn't posted.
Source: Chess and Music (Perfect Combination)
The Beginning of Chess In Palau
By Roberto Hernandez
June 2014
To be published as a book in the future
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