Jan 19 - Taiwanese workers protest in front of the Presidential Palace against proposed pension cuts, while demanding better labour benefits. Adam Brauner reports.
Thousands of protesters gather in Taipei on Saturday, demanding a better pension plan from the Taiwanese government. They chanted phrases like "no pension cuts" and "basic security", pressuring the government to shelf major cuts to state pensions. (SOUNDBITE)(MANDARIN) 62-YEAR-OLD TAOYUAN UNION CHAIRMAN WU CHONG-HSIN SAYING: "We want the government to know that we are not asking much, but at least our pensions should not be reduced." This man predicts a potentially catastrophic future. He says that one to two million workers without a pension plan after retirement would be a disaster in Taiwan, with homeless elders filling the streets. Taiwan President Ma Ying-Jeou announced his government is planning to reform its pension program to save cash. Taiwan's Council of Labour Affairs predicts the country's labour insurance fund might be bankrupt by 2027.