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, two from Kuomintang KMT and one from New Party NP. The committee was supposed to make a cross-party recommendation to the Legislative Yuan for passage and for the scheme to be implemented on the...

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