Taiwan delays national pension scheme indefinitely

The government has put off introducing a national retirement scheme indefinitely out of fears of encouraging workers to turn to the government for retirement support.

Taiwan's Finance Minister Hsu Jia-dong announced last week that the introduction of a national pension scheme would be indefinitely delayed, citing fears of creating a welfare-dependent mentality, and increasing tax burdens on the public.

The Council of Economic Planning Development CEPD tabled a report in the past fortnight to a cross-party committee vested with the task of selecting a model for the National Annuity Plan. Three members of the committee of six are from the ruling Democratic Progressive Party,...

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