President Tsai Ing-wen (蔡英文) yesterday reiterated her administration’s commitment to pension reform, saying that she will take full responsibility for its effects, following a protest on Saturday against the government’s planned reforms.
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Retired junior public servants will soon see a nice boost in their savings, as a law increasing the amount of money they can deposit into an 18 percent preferential interest rate account comes into effect this year. The move, passed by the legislature last year, was criticized by Democratic Progressive Party (DPP) lawmakers yesterday as unfair and unnecessary as interest rates in public banks continue to hover below 2 percent, despite a 0.125 interest rate hike announced last week by the central bank. |