President Tsai acknowledges need for significant reform of pension system – Taipei Times

Pension schemes vary greatly between different occupations, he said,
adding that premiums are too low to ensure a proper balance, with
various pension funds expected to go bankrupt from 2020 to 2031.

The
pension system does not adapt to the aging of the population, wage
stagnation or lowered interest rates, which causes deficits in the
different funds.

Due to an increase in average life expectancy
leading to an aging population, the nation’s age dependency ration grow
from 11 percent in 1995 to 17 percent last year, creating a greater
burden on taxpayers, particularly younger people, Chen said.