Friday, July 14, 2017

Annuity reform hurts police and military academies enrollment

For years, entering army and police schools were seen by many with challenging family social-economic status as a turning point to improve their household economy. When they graduate, a stable job and guaranteed retirement pension are the least they should be worried. Not anymore now. The DPP’s annuity reform, which defied the convention that no new laws should be practiced retroactively, has ignited not only the fury of many government retirees but lowered the will of many men and women to enter police or military academies to become future members of the police force or the military.

This year there were 2000 men and women fewer than last year to enter Taiwan Police College. The prestigious ROC Military Academy suffered a 50% enrollment drop resulting in calls to open multiple channels for the young to become officers.

I believe that, if we don’t do something about pension reform, the government is going to go bankrupt. That mistake was made over half a century ago for lacking actuarial calculations. However, any reforms should not harm the pensioners now. It is only fair to apply to those who start receiving retirement pay when the new law takes effect. 

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