Preferential interest could be phased out over six years

Taipei Times
Date: Dec 25, 2016
By: Su Fang-ho and Jake Chung / Staff reporter, with staff writer

The government is looking to phase out the 18 percent preferential interest rate for civil servants and educators within six years, National Pension Reform Committee deputy convener Lin Wan-i (林萬億) said.

The armed forces pension would be handled separately and given its own set of rules, Lin said, adding that a draft of the amendments is to be reviewed by the Legislative Yuan before the first session next year.

The committee is to hold four public hearings nationwide on Saturday, Jan. 7, Jan. 8 and Jan. 14 to discuss the preferential interest rate and civil servant pensions, as well as allegations that some people have been over-quoting their years of service by adding their party member service or time as an administrative officer, Lin said.

The sessions are to be broadcast live, Lin said, adding that the committee will hold a national conference on Jan. 21 and Jan. 22.    [FULL  STORY]

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