Public Sector Pensions In The Spotlight
The issue of Taiwan’s public sector pensions and the financial burden meeting them places on the national budget has been a key topic of discussion this past week. These two cartoons sum up one argument that the Government is loathe to cut back on public sector pensions (electoral risk?) and is instead ditching support for private pensions. In the current poor state of the Taiwanese economy, that some public sector retirees get 90% of their salary and bonuses is a slap in the face to many who rely on private sector jobs and careers to deliver liveable pensions. With long term private sector jobs (of over 20 years and more) that provide a guaranteed pension a thing of the past, many Taiwanese aspire to work within the public sector because the benefits of getting ‘tenure’ are so great in comparison.