The China Post
Date: November 15, 2017
By: Lu Hsin-hui and Elizabeth Hsu
TAIPEI (CNA) – The Ministry of National Defense (MND, 國防部) made public Tuesday
The Ministry of National Defense announced Tuesday key points in its proposed reform of military pensions, including setting a minimum monthly pension payment for retired military personnel of NT$32,160, the same as for civil servants. (CNA)
key points in its proposed reform of military pensions, including setting a minimum monthly pension payment for retired military personnel of NT$32,160 (US$1,065), the same as for civil servants.
Other key points include calculating monthly pensions based on average monthly salary earned in the last 36 months before retirement. Those who served in the military for at least 20 years before retiring are to be entitled to a monthly pension equal to 50 percent of that baseline wage.
The percentage will be higher for those who served in the military longer than 20 years, the MND said, noting that for personnel at the rank of lieutenant-general or lower, the 50-percent pension payment replacement rate will be increased by 2.5 percent for every extra year of service beyond 20 years.
Generals will be entitled to a yearly hike of 2 percent, the MND said. The planned measure is being introduced to encourage military personnel to stay in the military as long as possible, the ministry explained. [FULL STORY]
