Civil Service Retirement System for the Aged Society
Date Issued
2009
Date
2009
Author(s)
Cheng, Jui-Tai
Abstract
In his book, Managing in the next society, Peter F. Drucker predicts that by 2030 at the latest, the minimum retirement age will have risen to 75 in all developed countries. Furthermore, the retirement benefits given will be substantially lower than they are today. aiwan has officially joined the “aging society” as defined by the WHO (up to 7% of the senior citizen ratio) because senior citizens aged over 65 accounted for 7.0% of the total population as of September, 1993. The official forecast by the Council of Economic Planning & Development of the Executive Yuan (the Cabinet) indicates that the senior population age over 65 will double by 2017(qualifying to be an Aged Society, senior citizen ratio being over 14％）and even up to 20％ by the year 2025(becoming a Super Aged Society, senior citizen ratio is over 20％). In France, it takes 156 years to develop from an Aging Society to a Super Aged Society. However, it will take only 32 years for Taiwan to do the same thing. This means our economical, social and various other systems have only 1/5 of the time to accommodate the Aging Society; the impacts would be five times than that of France.n response to the challenges posed by the aging population, public sector pension schemes are being reformed in many OECD countries .The basic approach in public sector pension reform has included the following elements: 一) Raising the ages of pensioners who obtain retirement annuity.二) Raising the early retirement age at which pensions may be drawn. 三) Limiting early retirement payment and encouraging deferred retirement.四) Extending the contribution periods.五) Extending the reference salary period.六) Reducing the income replacement rate.七) Reducing survivors'' pensions.八) Reducing annuity adjust rate.九) Transforming from Defined Benefit Plan to Defined Contribution Plan.十) Increasing the contributions from retirement funds.十一) Increasing taxes for higher-middle classes. he retirement amendment bill proposed by The Examination Yuan of the Republic of China which was sent to the Legislative Yuan for review and approval on April 3, 2009 included the following: 一) Raising the age of pensioners who obtain retirement annuity, and cooperating with deferred annuity as well as reduced annuity.二) Restricting public insurance preferential deposit interest for the aged.三) Eliminating the additional five basic units of retirement pay, when retiring at the age of 55.四) Increasing the rate and period of contribution from retirement funds.everal suggestions were proposed by this study:一) Raising the age of pensioners who obtain retirement annuity to 70.二) Raising the age of mandatory retirement to 75.三) The regulation that people who extend their services is not allowed to receive retirement annuity shall be abolished.四) Adjusting the salary calculation standards.五) Improving the accountability of pension funds.六) Integrating all insurance policies in our social security system. 七) Cooperating with affiliated plans made while raising the age of pensioners who obtain retirement annuity.
Subjects
Civil Service
Retirement System
Aged Society
Pension Reform
The Income Replacement Rate
Type
thesis
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