The senator said the effective dates have been cleared since the recently concluded meeting of FSM lawmakers in Palikir.
But he said the amendments are “not in themselves the solution to a perpetual issue or problem resulting from the growing number of beneficiaries who are receiving benefits beyond their contribution to the system.”
Subolmar argues that this core problem will persist if other solutions are not secured.
The only sure way to rescue the program lies in a collective understanding that the main causes of the insolvency of the FSMSS are the continued payouts to retirees that have exceeded their contributions.
The postponement of implementing the new law will give breathing space for the program administration to take the lead and recommend more palatable and better solutions that do not compromise the fundamental purpose of the system to provide full benefits to eligible retirees, he said.
In light of recent legislative resolutions from all the states that call on the FSM Congress to repeal the law, and given the fact that this is the only social security program for the nation, it becomes a fundamental duty if not a constitutional mandate of the FSM government to address and ensure the survival of the system, the senator added.
