By: Hsieh Chia-chen and Evelyn Kao
Taipei, April 2 (CNA) A plan to cut the retirement benefits of retired political appointees
has been submitted to the Examination Yuan for review as part of the government’s pension reform initiative, the Ministry of Civil Service said Sunday.
The plan proposes to cut the retirement income replacement rate for some retired political appointees to as low as 50 percent and phase out the preferential 18-percent interest they draw on retirement savings accounts over a period of six years, the ministry said.
Political appointees who retired before Dec. 31, 2003 have been a target of criticism because they were able to count the time they worked as civil servants toward their total years in service and be entitled to higher pension payments. [FULL STORY]