Taiwan new pension plan delayed

The government will have to make a tough choice on how the new retirement scheme is to be funded.

Taiwan will not have a new national pension system in place by 1 January next year as planned, said Premier Tang Fei yesterday Sunday.

Speaking after a two-day conference on national financial policy issues over the weekend, the premier revealed the government was still trying to determine a suitable model for the proposed retirement scheme. The major sticking point among officials is over how the pension benefits will be funded.

Called National Annuity Plan, the new national pension scheme is a part of the 3-3-3 social welfare policy promised by President Chen Shui-bian before his election victory in March. Under the 3-3-3 plan, citizens over the age of 65 will be eligible for...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222