Taiwan to Adjust Public Service Annuity for Certain Years Due to Inflation, Benefiting 8,346

(CNA, Taipei, May 21, Reporter: Kao Hua-chien) The Examination Yuan stated that the cumulative growth rate of the Consumer Price Index (CPI) for the years 2016, 2017, 2018, and 2022 has all exceeded positive 5%, meeting the legal conditions for adjusting Government Employee and School Staff Insurance (GESSI) annuity payments. Therefore, starting June 1 of this year, the annuity payment rate for insured individuals who legally began receiving their GESSI annuity in these four years will be increased by 6.46%, with an estimated 8,346 people benefiting. In a press release today, the Examination Yuan noted that the Public Service Insurance Act stipulates that when the cumulative growth rate of the CPI reaches ±5%, a separate annuity adjustment rate shall be determined. The Examination Yuan explained that the cumulative average CPI for fiscal year 2025, released this year by the Directorate-General of Budget, Accounting and Statistics of the Executive Yuan, was compared with the cumulative average CPIs of previous years since the GESSI annuity system was implemented on June 1, 2014. The comparison revealed a 6.46% difference for the years 2016, 2017, 2018, and 2022, which met the legal conditions for adjusting annuity payments. Consequently, the Ministry of Civil Service initiated the adjustment mechanism as required by law. The Examination Yuan pointed out that after the Ministry of Civil Service comprehensively considered factors such as stable national economic growth, government fiscal debt ratios meeting statutory limits, and the GESSI reserve fund being fully funded, it legally adjusted the payment rates for annuitants from 2016, 2017, 2018, and 2022. The announcement was made jointly with the Executive Yuan today. The Examination Yuan stated that after this adjustment, if there are significant changes in the price index in the future causing annuitants from other years to also meet the adjustment criteria, the adjustment mechanism will be implemented accordingly to ensure that the real income of GESSI annuitants is correspondingly protected.