Taiwan's $24b pension fund undergoes overhaul, names new chief
Taiwan’s Public Service Pension Fund will be overhauled with new members to be enrolled in a defined-contribution scheme rather than the current defined-benefit. Other restructuring measures have also been adopted.
The Public Service Pension Fund (PSPF), one of Taiwan’s largest pension funds, has appointed a new head as it is undergoing a major reform from a defined-benefit pension scheme to a defined-contribution one.
As part of this transformation, the PSPF is restructured and becomes a newly created bureau under Taiwan's Ministry of Civil Service, effective April 30.
The move is aimed at improving management and oversight of the $24 billion public pension fund.
According to Taiwa…
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