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Taiwan should consider ways of retaining older workers: premier

Taiwan should consider ways of retaining older workers: premier

Taipei, May 26 (CNA) Taiwan should study a measure adopted by foreign enterprises to retain retired workers by offering them half-pay, Premier Mao Chi-kuo (???) said Tuesday, noting that the country's workforce is declining as its population ages rapidly. Due mainly to a low labor participation rate caused by the trends of delayed entry into the labor market and early retirement, Taiwan's working-age population is shrinking by 150,000-200,000 per year, Mao said at a Cabinet meeting, according to statement issued later by the Cabinet. Some employees who opt for early retirement do so to care for relatives suffering from disabilities, Alzheimer's disease or dementia, the premier said. If such employees are willing to return to the labor market, the Ministry of Labor should study ways of rehiring them based on a part-time basis, Mao said. He said that a draft Long-term Care Insurance Act aimed at helping to fund long term care systems will be submitted to the Legislative Yuan soon. Regarding older workers, Mao cited the example of a German automobile factory at which the average age of the workforce is 60 as the company retains retired executives by offering them half-pay. This approach not only makes good use of experienced older workers but also motivates younger ones to work hard, Mao said. Taiwan has no similar policies, he noted, suggesting that the relevant government agencies study that approach. The Taiwan government has rolled out several insurance, pension and national health insurance systems and recently enacted a Long-Term Care Services Act to cope with the country's rapidly aging population, Mao said. (By Tang Pei-chun and Evelyn Kao)


Updated : 2021-09-21 03:54 GMT+08:00