TAIPEI, Taiwan - A senior Taiwanese official says that pension payments for retired civil servants are pushing the government toward a "fiscal cliff."
Guan Chung says in a report Thursday that about one third, or $10 billion, of the government's annual welfare budgets covers the pensions and health insurance of Taiwan's 620,000 retired teachers, military and civil servants.
Guan oversees the hiring of civil servants.
Guan says the private sector work force lags far behind the public sector in welfare benefits.
Taiwanese officials can retire as early as 55 if they have worked for 30 years. A reform plan would limit retirement to officials whose age and years of work add up to at least 90.
Guan's report was issued late Thursday.
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