Friday, June 10, 2005

Taiwan's New Pension Plan

In July, Taiwanese workers will get a new kind of pension. Previously you had to work for the same company for 25 years to get a pension.

Now, you can apparently opt-in to a pension plan that is transportable. I am not clear on the details, because I couldn't find anything in the Taipei Times archives, but I will bet this plan is defined contribution (anyone with a defined benefit plan should consider it a lucky break nowadays.) Found a link. Sounds like you only get interest - no investment options.

More information here.

1 comment:

Chris said...

Not sure how many people will use this. At my wifes work she says no one has opted in for the simple reason that no one trusts the government. They all assume the money will be stolen by corrupt government officials so they would rather save it themselves.