House Bill 8-40-3 has been passed on first reading in last week’s regular session of the House of Delegates.
“The Olbiil Era Kelulau finds that Palau’s Social Security law needs to be updated to reflect technological capabilities. The existing Social Security law, which limits receipt of benefits to six months of payments to individuals not present in Palau, dates from an era predating Palau’s diplomatic relations with those countries whose nationals work in the Republic. Under that system it was difficult to monitor recipients in other countries to ensure that they were not deceased or otherwise ineligible for benefits, “the measure stated.The bill added that now that Palau has formal diplomatic relations with several countries, as well as advances in communication technology, it is possible to monitor disbursement of funds.The bill will enable overseas beneficiaries to obtain social security funds if they live in a nation with diplomatic relations with Palau, unless modified by a totalization or bilateral agreement, benefit payments will be reduced by thirty percent (30%) to any domiciled outside of the Republic.It added that full benefit payments shall only be available to beneficiaries who are permanently domiciled within the Republic of Palau.
