TAIPEI/HONG KONG (Reuters) - Taiwan's military pension fund may be in default by 2020 after years of widening deficits, raising alarm about the island's defence stability when tensions are heating up with political foe China.
The government says an urgent overhaul of the pension system is needed as large payouts are no longer sustainable for the export-reliant economy, with contributions crimped by slower economic growth since the 1990s and a rapidly aging population.
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