Former Interior Minister Lee I-yang says that pension reform must move forward to avoid financial issues that might cripple the system.
Lee was speaking at the Legislature on Wednesday to present his plan for pension reform as candidate for the deputy of head of the Examination Yuan. Lee said that Taiwan's aging population has exposed the financial stress that early retirement has put on the pension system.
Lee has also said that spending on pensions for retired military personnel, teachers, and civil servants outstripped revenues in 2011, 2014, and 2015. Lee suggested several proposals for reforming the system, including increasing the age when civil servants can begin receiving monthly pension payments.
Source: Radio Taiwan International
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