Study highlights pension system issues

REFORM REQUIRED:President Tsai said in her inaugural address that the pension system could go bankrupt unless reformed, but a previous try hurt the KMT at the polls

Taipei Times
Date: May 23, 2016
By: Tseng Wei-chen and Jonathan Chin / Staff reporter, with staff writer

A study conducted by the Ministry of Civil Service suggested that 42 percent of the nation’s retired civil servants, or 56,773 people, claim more than NT$60,000 per person per month in pensions and benefits, a sum that is almost three times the nation’s minimum wage.

The study found the average monthly pension for the nation’s 13,4849 retired and claiming public servants, including the 18 percent rate paid on special savings accounts and monthly pension payments, is NT$50,000 per person per month, which is also the median sum.

In her inaugural address on Friday, President Tsai Ing-wen (蔡英文) issued a warning about the pension system and the need for urgent reforms to it.

“The pension system will go bankrupt without reform,” she said.
According to the study, 646 retired civil servants receive more than NT$100,000 every month, while 8,292 receive between NT$80,000 and NT$100,000.

An additional 47,835 retirees receive monthly payments of between NT$60,000 and NT$80,000.     [FULL  STORY]

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