The new pension plan for teachers, civil servants and military personnel may take effect as soon as Feb. 1, Premier Frank Hsieh (
"If the Examination Yuan completes all necessary reviews and approves the relevant legal mechanisms [on time], the new regulations can become effective as soon as Feb. 1," Hsieh said.
The premier was speaking at the weekly Cabinet meeting yesterday morning, which was also its last meeting for this year.
Hsieh had first announced on Nov. 16 that the new plan would take effect on Dec. 16. However, Examination Yuan officials said that the implementation of the new regulations would have to be delayed, as certain details still had to be finalized.
"We are all ready now, and are just waiting for the Examination Yuan," he said.
The proposed revision of pension benefits applies to teachers, civil servants and military personnel with a service record of 25 years or more. Those who retire after 25 years will earn a monthly pension amounting to 85 percent of their last monthly paycheck. One percentage point will be added for those who served between 25 and 35 years, while people retiring after more than 35 years of service will receive 95 percent of their monthly paycheck.
In addition to rephrasing his own promise, the premier also took advantage of the opportunity to discuss his own work since he took office in February.
"Our priority was to work on the economy and reform the old systems. I'm glad to report that we did it well," Hsieh said.
The premier said that several challenges and crises might have had a negative impact on the local economy, but people's trust in the government and government officials' confidence in leading the country have helped overcome these difficulties.
"The TAIEX has climbed to a two-year peak, and the real-estate sector is warming up gradually as well," Hsieh said. "These are signs that we have not been defeated by problems such as high oil prices or bird flu."
Hsieh said that the Cabinet needs the legislature's help to approve more pending proposals that are geared toward reform.
"For instance, the NT$80 billion [US$2.4 billion] flood-control construction proposal is still pending and will not be discussed until the next [legislative] session next year," Hsieh said.
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