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...
