Monthly pension payments, national health insurance, an 18 percent interest rate: Describing this combination as “the best retirement system in the world” is a misnomer; it is not a retirement system — it is a tool to perpetuate class differences and oppress the public.
Commodity prices in Taiwan are lower than in Europe or North America. In terms of purchasing power, monthly retirement payments and national health insurance make military personnel, civil servants and teachers in Taiwan some of the most privileged groups in the world. The 18 percent interest rate is worth perhaps another NT$30,000 extra every month, which means a retired soldier, civil servant or teacher can earn anything from NT$60,000 to more than NT$100,000 per month. This is not retirement, it is an extortion racket.