Social and Behavioral Sciences Commons^™

Rethinking Old Age Income Security In Taiwan: With A Discussion Of Pension Reform In The Uk And Germany, Chih-Lung Huang, Shrsyung Chang

Chih-lung Huang

After the amended provisions of the National Pension Act came into effect in October 2008, creating a new retirement system that joined up the existing military personnel, public school teacher, and labor pension schemes as well as individual accounts and farmers' non-contributory welfare subsidies, Taiwan's system of safeguards for economic security in old age was still fragmented but finally covered the whole of the population. Compared with the previous two-track system, with social insurance as the main form and social relief as the subsidiary form of retirement security, the new framework blends and confuses individual savings accounts and new elements …