Go TO Content


About PSPF

The Origins of the Public Service Pension Fund

The public service pension system of the Republic of China was established in 1943. Since then, the framework and principles that define it as a government-financed superannuation system remained unchanged for a long time. However, dramatic changes in politics, economics, and social environment have posed great challenges to the system. One of these challenges was the growing financial burden of the government. This prompted the government to organize a task force in 1973 to review the system. After years of study, the public service pension system was changed on 1 July 1995 from a totally government-financed system to a contributory “Public Service Pension Fund” that is supported by funds jointly contributed by the government and the participants. Upon the adoption of the new system, the Public Service Pension Fund (PSPF) began paying pension benefits based on years of service. Under the direction of the Examination Yuan, the Public Service Pension Fund Supervisory Board (PSPFSB) and the Public Service Pension Fund Management Board (PSPFMB) were set up to oversee the supervision and management, respectively, of the Fund. Pursuant to the laws currently in effect, the Fund’s participants comprise civil servants, education workers, and military personnel (political appointees withdrew from the Public Service Pension Fund by law from 2004), totaling more than 630,000 persons.

 

The Objectives of the Public Service Pension Fund

1. To guarantee retirees get pension income and take special care of all retirees and their dependents.

The aim is to secure and steady the income for the retirees so as to facilitate the recruitment of human resources for public service, boost its morale, take care of the aged and their dependents, and establish a sound and solid retirement system. 

2. To ensure the financial source by collecting the contributions to the Public Service Pension Fund according to law.

To ensure a stable source of the Fund’s contributions, the government has enacted laws under which the Public Service Pension Fund is jointly contributed by the government and the public servants. With respect to the management of the Public Service Pension Fund, equal importance is placed on its security and profitability so that the financial structure of the system can be solid and the system can be carried on forever. 

3. To take good care of retirees, and pay attention to the welfare of the on-service participants.

Based on the principle of taking from the public servants and giving back to the public servants, efforts will be made to take care of the retirees as well as to pay equal attention to the welfare of the incumbent public servants. In this way, the Public Service Pension Fund will help strengthen the vitality of government organizations and improve the development and utilization of human resources.

 

 

 

About PSPFSB

 

The Public Service Pension Fund Supervisory Board (PSPFSB) was inaugurated as a central government entity on May 1, 1995, under Examination Yuan to review, supervise, and evaluate the operations of the Public Service Pension Fund.

 

The Organic Act of Public Service Pension Fund Supervisory Board stipulates that the board shall comprise a chairman, with the Vice President of the Examination Yuan concurrently taking the post, to be in charge of overall administration, and 19 to 23 members who represent relevant central and local government agencies as well as civil servants, education workers and military personnel.

 

In accordance with the statute, the board should also recruit five to seven legal or financial experts/scholars as its advisers who shall attend advisory and board meetings.

 

As of the end of 2016, the Supervisory Board has 23 members and 7 advisers. The Supervisory Board appoints an Executive Secretary to take care of day-to-day affairs under the direction of the Chairman, and a Deputy Executive Secretary to help with daily administration. In addition, the board has a Department of General Affairs and a Department of Audit to be in charge of matters stipulated by the Organic Act. The board’s personnel, accounting, statistic and ethics affairs are conducted by Examination Yuan staff.

 

 

Composition of Board Members

 Composition of Board Members