President Ma Ying-jeou (馬英九) yesterday said the nation’s loss-plagued pension funds could not and would not go bankrupt, as he pledged to come up with a pragmatic, feasible reform program in January amid complaints by opposition parties about his approach to resolving the problems.
After meeting with Premier Sean Chen (陳冲), Legislative Speaker Wang Jin-pyng (王金平) and Examination Yuan President John Kuan (關中) on the thorny issue, Ma said at a press conference that his administration would tackle the matter in a responsible and cautious manner because many people have a stake in the sustainability of the pension system.
“We’ll address the issue in a transparent and gradual way, with a clear goal, after extensive communications with various social sectors,” Ma said.
Photo: Liu Hsin-de, Taipei Times
He said the major problems with the pension system were insufficient funding and unequal distribution of benefits among different professions and different generations.
An overhaul of the system is necessary and urgent, he said.
“The work may be tough and complex, but we can no longer drag our feet because the flawed system could hurt our fiscal health and affect the well-being of public and private-sector employees, and even society as a whole,” Ma said.
In the meeting between the heads of the three branches of government, decisions were made about the division of responsibilities on pension fund reforms and a timeframe for the overhaul, Ma said.
The Democratic Progressive Party (DPP) accused Ma of enacting “pseudo reform” of various pension programs and criticized his refusal to hold a national affairs conference to resolve the issue.
DPP Chairman Su Tseng-chang (蘇貞昌) reiterated his call for a national affairs conference, which Ma previously turned down, saying that Ma’s plan would be difficult, time-consuming and inefficient.
Ma also omitted mentioning the 18 percent preferential interest rate and the year-end bonuses for retired public servants in his meeting, which made his pledge a “pseudo reform,” DPP Legislator Pan Men-an (潘孟安) told a press conference.
The exclusion of the preferential interest rate and the year-end bonuses would likely create more social instability and conflict between different generations, occupations and social groups, Pan said.
The DPP had reiterated its call for a national affairs conference because it would gather together people from all parts of society for comprehensive discussion on the fiscal problems the country is facing so that Taiwanese could comprehensively deal with their own “fiscal cliff,” Pan said.
In Greater Tainan, former DPP chairperson Tsai Ing-wen (蔡英文) also called on Ma to convene a national affairs conference, adding that Ma’s excuse for refusing to hold one was unacceptable.
Former president Lee Teng-hui (李登輝) called a national affairs conference in 1990 because the legislature was not functioning well and the present situation is very similar to that time, Tsai said, because both the administrative and legislative branches of government have failed to meet challenges and solve problems.
“We need to achieve a consensus on reform now more than ever through a collaboration of all forms of social power, as well as mitigating a potential conflict of interest during the reform process by holding a national affairs conference,” Tsai said.
Tropical Storm Gaemi strengthened into a typhoon at 2pm yesterday, and could make landfall in Yilan County tomorrow, the Central Weather Administration (CWA) said yesterday. The agency was scheduled to issue a sea warning at 11:30pm yesterday, and could issue a land warning later today. Gaemi was moving north-northwest at 4kph, carrying maximum sustained winds near its center of up to 118.8kph and gusts of 154.8kph. The circumference is forecast to reach eastern Taiwan tomorrow morning, with the center making landfall in Yilan County later that night before departing from the north coast, CWA weather forecaster Kuan Shin-ping (官欣平) said yesterday. Uncertainty remains and
SEA WARNING LIKELY: The storm, named Gaemi, could become a moderate typhoon on Wednesday or Thursday, with the Taipei City Government preparing for flooding A tropical depression east of the Philippines developed into a tropical storm named Gaemi at 2pm yesterday, and was moving toward eastern Taiwan, the Central Weather Administration (CWA) said. Gaemi could begin to affect Taiwan proper on Tuesday, lasting until Friday, and could develop into a moderate typhoon on Wednesday or Thursday, it said. A sea warning for Gaemi could be issued as early as Tuesday morning, it added. Gaemi, the third tropical storm in the Pacific Ocean this typhoon season, is projected to begin moving northwest today, and be closest to Taiwan on Wednesday or Thursday, the agency said. Today, there would likely
DISRUPTIONS: The high-speed rail is to operate as normal, while several airlines either canceled flights or announced early departures or late arrivals Schools and offices in 15 cities and counties are to be closed today due to Typhoon Gaemi, local governments announced last night. The 15 are: Taipei, New Taipei City, Taoyuan, Tainan, Keelung, Hsinchu and Kaohsiung, as well as Yilan, Hualien, Hsinchu, Miaoli, Chiayi, Pingtung, Penghu and Lienchiang counties. People should brace for torrential rainfall brought by the storm, with its center forecast to make landfall on the east coast between tonight and tomorrow morning, the Central Weather Administration (CWA) said. The agency issued a sea warning for the typhoon at 11:30pm on Monday, followed by a land warning at 11:30am yesterday. As of
CASUALTY: A 70-year-old woman was killed by a falling tree in Kaohsiung as the premier warned all government agencies to remain on high alert for the next 24 hours Schools and offices nationwide are to be closed for a second day today as Typhoon Gaemi crosses over the nation, bringing torrential rain and whipping winds. Gaemi was forecast to make landfall late last night. From Tuesday night, its outer band brought substantial rainfall and strong winds to the nation. As of 6:15pm last night, the typhoon’s center was 20km southeast of Hualien County, Central Weather Administration (CWA) data showed. It was moving at 19kph and had a radius of 250km. As of 3pm yesterday, one woman had died, while 58 people were injured, the Central Emergency Operation Center said. The 70-year-old