Taiwan: Compulsory Occupational Pensions Still Dominate

Shean-Bii Chiu

No 202, Discussion Paper from Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University

Abstract: The compulsory occupational pension and insurance system, along with personal savings and family supports, form the backbone of social security in Taiwan. Due to the relatively low contribution ratio, public sector pensions, as well as private sector pensions, are seriously under-funded, and this will lay enormous pressure on future government budgets if reforms are not implemented soon. The new Labor Pension Bill will make drastic policy shifts from defined benefit to defined contribution, from non-portable to portable, and finally from government management of funds to partial private management.

Pages: 25 pages
Date: 2004-02
Note: International Conference on Pensions in Asia: Incentives, Compliance and Their Role in Retirement, Organised by PIE and COE/RES, Hitotsubashi University, Hitotsubashi Collaboration Center, Tokyo, Japan, 23-24 February 2004
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Persistent link: https://EconPapers.repec.org/RePEc:hit:piedp1:202

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