Bureau of Public Service Pension Fund

The public service pension system of the Republic of China was established in 1943. Since then, the framework and principles that define it as a government-financed superannuation system remained unchanged for a long time. However, dramatic changes in politics, economics, and social environment have posed great challenges to the system. One of these challenges was the growing financial burden of the government. After years of study, the public service pension system was changed on 1 July 1995 from a totally government-financed system to a “Contributory Public Service Pension Fund” that is supported by funds jointly contributed by the government and the participants. Upon the adoption of the new system, the Public Service Pension Fund (PSPF) began paying pension benefits based on years of service. Under the direction of the Examination Yuan, the Public Service Pension Fund Management Board (PSPFMB) were set up and in charge of the matters relating to contributions, payments and management of the Fund. Pursuant to the laws currently in effect, Fund participants comprise civil servants, education workers, and military personnel (political appointees withdrew from the Public Service Pension Fund by law from 2004), education workers and military personnel began taking part in the Fund in February 1996 and January 1997 respectively.

As the fund participants, fund size and pension recipients increase and be in line with the establishment of new pension system (“portable” pension system) in July 2023, Public Service Pension Fund Management Board is restructured and change its name to “Bureau of Public Service Pension Fund” being effective on 30th April 2023 to boost the efficiency of the fund and to cope with the ever-changing financial situation. Bureau of Public Service Pension Fund is responsible for the matters relating to contributions, payments and management of the existing and the new pension system simultaneously.