Pension committee recommends NT$32,160 cap for 18% rate

The China Post
Date: March 27, 2017
By: Kuan-lin Liu

TAIPEI, Taiwan — The pension reform committee said Sunday it would recommend that retired public sector workers receiving monthly pensions of less NT$32,160 be able to retain an 18-percent preferential savings rate.

The committee is set to present the recommendations to President Tsai Ing-wen next Tuesday.

The government’s pension reform plan has faced opposition and protests since it was announced earlier in the year, with a proposal to phase out the 18-percent rate for certain workers drawing particular ire.

The 18-percent preferential interest rate was established for retired military officials, civil servants and public school teachers in 1960. At the time, average salaries for public sector workers were lower than those in the private sector.    [FULL  STORY]

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