NO TO FAT CATS:The draft article would deny pension to retired public servants if they accept jobs at state-run agencies that would pay them above the minimum wage
Date: Jun 17, 2017
By: Sean Lin / Staff reporter
Legislative caucuses yesterday passed a draft article barring retired public servants working at state-run agencies or foundations from receiving pensions should their salaries at those establishments exceed the minimum wage.
The draft initiated by the Democratic Progressive Party (DPP) targets double-salaried “fat cats,” thereby ensuring fairness in the pension system, DPP Legislator Tuan Yi-kang (段宜康) said during a cross-caucus negotiation to review a pension reform bill.
Citing as an example basic civil servants of the fifth pay grade, Tuan said they are paid a monthly salary of NT$53,340 when they reach retirement age.
They would be able to receive a monthly pension of about NT$41,000, which translates to an income replacement ratio of 77 percent, he said. [FULL STORY]