Thu, Jan 31, 2013 - Page 3 News List

PENSION REFORM: Cabinet details pension reforms

By Shih Hsiu-chuan  /  Staff reporter

Meanwhile, the government also proposed amending the Labor Insurance Act to require the government to bear “ultimate responsibility” for pension payments should the fund go bankrupt, to defuse public concern about pension security.

The Cabinet will deposit NT$20 billion into the fund in the first year after the pension system is reformed, Jiang said. While the amount could be adjusted every year according to the economic situation, the government will try to maintain a set average, he said.

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