31 May 2006

CNMI pensioners oppose change to Retirement Fund use

3:32 pm on 31 May 2006

The president of the Commonwealth Association of Retired Persons says more than 90 percent of members oppose moves by the government to use the Retirement Fund to pay off debt.

David Igitol says the proposed bills include a planned bail-out of the Commonwealth Utilities Corporation with money from the Retirement Fund.

The bills also calls for the government's 123 million dollar debt to the Fund to be written off.

The bills also call for the suspension of the Northern Marianas government's employer contribution to the fund until the end of this fiscal year on September 30th.

Mr Igitol says more than 2,000 of its members will be affected.

"The retirees are talking about a petition and wanting to go up to the Legislature during the day for the dispute to be heard and to protest the Legislature and to say for them not to pass this bill."

The Commonwealth Association of Retired Persons president David Igitol.