These are not loopholes, but actual Arc d’Triomphe:
One example of a vulnerability in the pension system is a loophole in the National Pension Program (國民年金), which was launched in 2008.
In December 2016, media reports surfaced of the pension program footing the bill for 4,000 repatriated Taiwanese expatriates, paying about NT$170 million.
These overseas Taiwanese returned to Taiwan before turning 65 — the oldest age at which they can apply for the National Pension Program — and shortly afterward, gained residency and pension insurance benefits.
The situation was first publicized in 2013 by then-Democratic Progressive Party lawmakers and current Environmental Protection Agency Minister Lee Ying-yuan, who cited official figures that tens of thousands of overseas Taiwanese aged 60 and above were returning from abroad.
He also found that each year, around a thousand overseas Taiwanese aged over 63 would return to Taiwan, apply for residency and sign up for the pension program.
Around 4,000 people were already receiving benefits under the program, he said.
The program is an alternative for those who have not joined labor insurance, farmers’ health insurance, civil servants and teachers’ insurance or military insurance program.
As long as the insured person makes regular premium payments, they continue to be eligible for benefits upon childbirth, severe disability or reaching old age.
Due to the relaxed regulations overseeing eligibility for the program, an insured person nearing the maximum age would pay a small fee before receiving pension benefits once turning 65 years old.
Meanwhile, there are those in the program who have been paying since turning 25, the minimum age for joining the program.
Meanwhile, we have people being fired at 23 years of work… to avoid the payments.
The biggest problem is how much they receive afterwards. Recently on TV an ex mikitary was complaining that, with the 18%, he got a bit over 50k, and without it, it would be less than 48k. However, most workers might get 20k to 10k in pension… if their bosses report as they should and do not abscond the money.