President Ma Ying-jeou (馬英九) yesterday said the nation’s loss-plagued pension funds could not and would not go bankrupt, as he pledged to come up with a pragmatic, feasible reform program in January amid complaints by opposition parties about his approach to resolving the problems.
After meeting with Premier Sean Chen (陳冲), Legislative Speaker Wang Jin-pyng (王金平) and Examination Yuan President John Kuan (關中) on the thorny issue, Ma said at a press conference that his administration would tackle the matter in a responsible and cautious manner because many people have a stake in the sustainability of the pension system.
“We’ll address the issue in a transparent and gradual way, with a clear goal, after extensive communications with various social sectors,” Ma said.
Photo: Liu Hsin-de, Taipei Times
He said the major problems with the pension system were insufficient funding and unequal distribution of benefits among different professions and different generations.
An overhaul of the system is necessary and urgent, he said.
“The work may be tough and complex, but we can no longer drag our feet because the flawed system could hurt our fiscal health and affect the well-being of public and private-sector employees, and even society as a whole,” Ma said.
In the meeting between the heads of the three branches of government, decisions were made about the division of responsibilities on pension fund reforms and a timeframe for the overhaul, Ma said.
The Democratic Progressive Party (DPP) accused Ma of enacting “pseudo reform” of various pension programs and criticized his refusal to hold a national affairs conference to resolve the issue.
DPP Chairman Su Tseng-chang (蘇貞昌) reiterated his call for a national affairs conference, which Ma previously turned down, saying that Ma’s plan would be difficult, time-consuming and inefficient.
Ma also omitted mentioning the 18 percent preferential interest rate and the year-end bonuses for retired public servants in his meeting, which made his pledge a “pseudo reform,” DPP Legislator Pan Men-an (潘孟安) told a press conference.
The exclusion of the preferential interest rate and the year-end bonuses would likely create more social instability and conflict between different generations, occupations and social groups, Pan said.
The DPP had reiterated its call for a national affairs conference because it would gather together people from all parts of society for comprehensive discussion on the fiscal problems the country is facing so that Taiwanese could comprehensively deal with their own “fiscal cliff,” Pan said.
In Greater Tainan, former DPP chairperson Tsai Ing-wen (蔡英文) also called on Ma to convene a national affairs conference, adding that Ma’s excuse for refusing to hold one was unacceptable.
Former president Lee Teng-hui (李登輝) called a national affairs conference in 1990 because the legislature was not functioning well and the present situation is very similar to that time, Tsai said, because both the administrative and legislative branches of government have failed to meet challenges and solve problems.
“We need to achieve a consensus on reform now more than ever through a collaboration of all forms of social power, as well as mitigating a potential conflict of interest during the reform process by holding a national affairs conference,” Tsai said.
The Central Weather Administration (CWA) yesterday said it expected to issue a sea warning for Typhoon Fung-Wong tomorrow, which it said would possibly make landfall near central Taiwan. As of 2am yesterday, Fung-Wong was about 1,760km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, moving west-northwest at 26kph. It is forecast to reach Luzon in the northern Philippines by tomorrow, the CWA said. After entering the South China Sea, Typhoon Fung-Wong is likely to turn northward toward Taiwan, CWA forecaster Chang Chun-yao (張峻堯) said, adding that it would likely make landfall near central Taiwan. The CWA expects to issue a land
The Central Weather Administration (CWA) yesterday said it is expected to issue a sea warning for Typhoon Fung-wong this afternoon and a land warning tomorrow. As of 1pm, the storm was about 1,070km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, and was moving west-northwest at 28 to 32kph, according to CWA data. The storm had a radius of 250km, with maximum sustained winds of 173kph and gusts reaching 209kph, the CWA added. The storm is forecast to pass near Luzon in the Philippines before entering the South China Sea and potentially turning northward toward Taiwan, the CWA said. CWA forecaster Chang Chun-yao (張峻堯) said
PREPARATION: Ferry lines and flights were canceled ahead of only the second storm to hit the nation in November, while many areas canceled classes and work Authorities yesterday evacuated more than 3,000 people ahead of approaching Tropical Storm Fung-wong, which is expected to make landfall between Kaohsiung and Pingtung County this evening. Fung-wong was yesterday morning downgraded from a typhoon to a tropical storm as it approached the nation’s southwest coast, the Central Weather Administration (CWA) said, as it issued a land alert for the storm. The alert applies to residents in Tainan, Kaohsiung, Pingtung and Taitung counties, and the Hengchun Peninsula (恆春). As of press time last night, Taichung, Tainan, Kaohsiung, and Yilan, Miaoli, Changhua, Yunlin, Pingtung and Penghu counties, as well as Chiayi city and county had
The Central Weather Administration (CWA) yesterday issued a sea alert for Typhoon Fung-wong (鳳凰) as it threatened vessels operating in waters off the Pratas Islands (Dongsha Islands, 東沙群島), the Bashi Channel and south of the Taiwan Strait. A land alert is expected to be announced some time between late last night and early this morning, the CWA said. As of press time last night, Taoyuan, as well as Yilan, Hualien and Penghu counties had declared today a typhoon day, canceling work and classes. Except for a few select districts in Taipei and New Taipei City, all other areas and city
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