A proposal sponsored by pan-blue legislators to reinstate an 18 percent special interest rate on savings for retired civil servants, military personnel and teachers failed to pass in the legislature yesterday as Democratic Progressive Party (DPP) lawmakers said they were prepared to launch a filibuster should the pan-blues attempt to force passage of the proposal.
In November last year, the Executive Yuan passed an administrative order abolishing the preferential pension interest rate because the nation's banks only offer savings account interest rates of 1 percent to 2 percent.
Pan-blue lawmakers yesterday demanded that their proposal to nullify the Executive Yuan's administrative order be reviewed as the first bill of the day's agenda on the floor, but DPP lawmakers insisted that establishing a statute for creating a committee to manage labor pension funds should come first.
Legislative Speaker Wang Jin-pyng (王金平) of the Chinese Nationalist Party (KMT) tried to begin cross-party negotiations on the agenda at 9am, but because lawmakers failed to reach consensus on it and a handful of other controversial bills, the meeting was adjourned until Tuesday.
DPP Legislator Lin Shu-shan (
"The lawmakers who enjoy the 18 percent preferential interest rate -- or who have family members that enjoy it -- should not voice an opinion about the proposal," Lin told the press.
PFP Spokesman Lee Hung-chun (
"They deserved the preferential pension system," he said.
DPP Legislator Lu Tien-lin (盧天麟) said that his party's proposed statute to create a committee to manage labor pension funds would benefit the country and millions of laborers.
"Labor pensions have accumulated to NT$126 billion so far. Without the committee, the government can't manage the funds in an efficient way," Lu said.
The Central Weather Administration (CWA) today issued a sea warning for Typhoon Fung-wong effective from 5:30pm, while local governments canceled school and work for tomorrow. A land warning is expected to be issued tomorrow morning before it is expected to make landfall on Wednesday, the agency said. Taoyuan, and well as Yilan, Hualien and Penghu counties canceled work and school for tomorrow, as well as mountainous district of Taipei and New Taipei City. For updated information on closures, please visit the Directorate-General of Personnel Administration Web site. As of 5pm today, Fung-wong was about 490km south-southwest of Oluanpi (鵝鑾鼻), Taiwan's southernmost point.
Tropical Storm Fung-Wong would likely strengthen into a typhoon later today as it continues moving westward across the Pacific before heading in Taiwan’s direction next week, the Central Weather Administration (CWA) said. As of 8am, Fung-Wong was about 2,190km east-southeast of Cape Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, moving westward at 25kph and possibly accelerating to 31kph, CWA data showed. The tropical storm is currently over waters east of the Philippines and still far from Taiwan, CWA forecaster Tseng Chao-cheng (曾昭誠) said, adding that it could likely strengthen into a typhoon later in the day. It is forecast to reach the South China Sea
Almost a quarter of volunteer soldiers who signed up from 2021 to last year have sought early discharge, the Legislative Yuan’s Budget Center said in a report. The report said that 12,884 of 52,674 people who volunteered in the period had sought an early exit from the military, returning NT$895.96 million (US$28.86 million) to the government. In 2021, there was a 105.34 percent rise in the volunteer recruitment rate, but the number has steadily declined since then, missing recruitment targets, the Chinese-language United Daily News said, citing the report. In 2021, only 521 volunteers dropped out of the military, the report said, citing
Nearly 5 million people have signed up to receive the government’s NT$10,000 (US$322) universal cash handout since registration opened on Wednesday last week, with deposits expected to begin tomorrow, the Ministry of Finance said yesterday. After a staggered sign-up last week — based on the final digit of the applicant’s national ID or Alien Resident Certificate number — online registration is open to all eligible Taiwanese nationals, foreign permanent residents and spouses of Taiwanese nationals. Banks are expected to start issuing deposits from 6pm today, the ministry said. Those who completed registration by yesterday are expected to receive their NT$10,000 tomorrow, National Treasury
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