^aDepartment of Finance, Tunghai University, Taichung, Taiwan. E-mail: yungming@thu.edu.tw

Abstract

Many articles relating to the issue of pension reforms are devoted to the pension systems in Western countries. Very few papers address this issue in the context of Asian countries, especially developing ones. The main purpose of this article is to evaluate the current and future pension situation in Taiwan and its possible effects on, for example, life insurance, the development of the Fourth Pillar, and the extension of working life. The experience of Taiwan should be of interest to policymakers, insurance firms, and the authorities concerned.