Taipei Times: What do you think of people saying that you are making a fuss about the labor pension fund following your removal from the fund's commission?
Jeng Tsuen-chyi: It's a big deal in the sense that it's labor's hard-earned money, which amounts to over NT$200 billion. What upsets me is that the CLA abuses its power by unprofessionally investing the fund in the stock market.
And when commission members tried to do their job and monitor the use of the money, it got rid of those who stood in its way and brought in new members who knew so little about the fund that all they could do was endorse the CLA's policies.
PHOTO: GEORGE TSORNG, TAIPEI TIMES
TT: What exactly do you expect the Council of Labor Affairs to do?
Jeng: What's equally important, with the increase in the number of labor representatives in the commission, is that the fund is freed from the manipulation of political parties and organizations.
Each commission member has to realize that in each decision the interests of labor have to come first.
In addition, I hope the members of the commission who are in charge of overseeing the funds activities do their job to the best of their ability.
It's a sure sign of danger when commission members, who are supposed to monitor how the fund is used, are barred from doing their job.
Finally, I hope the CLA makes the management of the fund open and transparent.
TT: You have been calling for Taiwan's workers to stand up for their right to safeguard the fund. Why should they throw their weight behind you since only less than 2 percent of the total workers in Taiwan have been able to apply for a pension from the labor pension fund in the past?
Jeng: They're actually two separate things. It's the [Labor Standards Law] that lays down the restrictions. [Under the current system, workers have to be over 55 years old or work consecutively for the same company for 25 years in order to be eligible for the fund].
The fund definitely involves the welfare of all workers because it's their money. In addition to the retirement fund, labor workers should also pay attention to how the government manages the other three government-run funds, especially the labor insurance fund.
TT: What do you think about the fact that only a few companies contribute the minimum 2 percent of their employees' monthly salaries to the labor pension fund?
Jeng: That's why we need individual accounts instead of one big national account.
However, we still have a long way to go before we reach that goal because the Legislative Yuan has to amend the Labor Standards Law first.
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