Legislature demands sustainability reports for pension plans

The legislature has passed a proposal which requires the cabinet and the Examination Yuan to provide detailed actuaries reports and impact assessments of their pension reform proposals. The proposal was submitted by the minority People First Party.

The Tsai Ing-wen administration has made shoring up the country's deficit-ridden pension system one of its priorities. Proposals from key government bodies aim to reduce pension payments for retired military personnel, teachers, and civil servants. These proposals have been met with massive protests from these groups. Many other members of the public have also criticized the proposals for lack of foresight.

The People First Party wants to see detailed actuaries reports and impact assessments to ensure the long-term sustainability of the various pension reform plans. Their proposal was passed with no resistance from other parties.

Source: Radio Taiwan International