Post-retirement pension reform - GREATER CHINA - Magazine
Published: September 4, 2023
The Retirement and Compensation for Private Schools is a defined-contribution pension plan for 51,000 private school teachers and staff in Taiwan. Als...
Source: asiaasset.com
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Lai Jin NanSchool FundCapital Investment Trust CorpPrivate SchoolsPrivate School FundAsia AssetThe Retirement And Compensation For Private Schools Isa Defined Contribution Pension Plan 51000 Private School Teachers And Staff In Taiwan Also Known As The FundT Was The First Pension Fund In Taiwan To Introducea Member Choice Platform 2013 It Is Now Looking Revamp Its Withdrawal Process By Allowing Members Place Their Retirement Contributions Ina Target Date Option Will Be Made Available Beyond Official Age Of 65 Years Amp Nbsp According Lai Jin NanHe Fund Amp Rsquos Executive SecretaryHe Move Is Aimed At Providing Better ProtectionSpecially For Members With Little Financial Knowledge Amp Nbsp Were Initially Provided Three Investment Choices Ndash ConservativeSteady GrowthNd Aggressive Amp Ndash Based On Their Risk Tolerance Four Years LaterHe Fund Launcheda Fourth Option Amp Ndasha Target DateHich Formsa Hybrid Of The Three Strategies Whilst Automatically Allocating More To Conservative Portfolio Choices When Members Near Retirement Age Amp Nbsp Lai Observes That Rsquo Investment Preference Has Changed Significantly Over Years Around 96 Opted For Choice In Early Stage Regardless Their And Risk Tolerance HoweverHey Are Now More Financially Mature To Select The Choice Best Suited Their Risk Appetite Amp Nbsp Ldquo CurrentlyRound Half Of Our Members Opt For The Target Date Fund ChoiceMp Rdquo Lai Says In An Interview With Asia Asset Management Amp Nbsp He Emphasises The Fund Continues To Optimise Withdrawal Process Ina Bid Help Members Better Manage Their Retirement Savings 2019He Fund Began To Allow Its Members Retain Their Pension Accounts After RetirementIving Them The Opportunity To Decide Whether Withdraw Funds Asa Lump Sum Or Ona Regular BasisEpending On Their Personal Financial Circumstances Amp Nbsp Ldquo The Measure Has Been Very Well Received So Far And Withdrawals Made Ina Hybrid Form Allows Members To Keep Part Of Pension In Retained AccountsMp Rdquo Lai Notes Amp Nbsp That SaidNder The Current SystemEmbers Are Required To Provide Further Instruction On Investment Choices At The Age Of 65 If They Choose Retain Their Contribution There Currently Three Options Invest Roll Over Money