Pension reform for political appointees passes

Radio Taiwan International
Date: 2017-06-30

The Legislature passed the final reading of a bill to amend the pension structure for political

Tsai said she will shoulder the pressure coming from opponents of pension reform. (CNA photo)

appointees on Friday.

The amendment includes articles that ensure a minimum monthly pension of NT$32,160 (around US$1,000). It also phases out a preferential 18% pension interest rate and raises the minimum age to start receiving the pension.

President Tsai Ing-wen said Friday that the amendment can save an estimated NT$1.4 trillion (US$47 billion). Tsai said the savings will play a major role in saving the Public Service Pension Fund from bankruptcy.

Tsai also thanked retired public servants and teachers for supporting the government’s reforms to make the nation’s finances more stable.

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