Taiwan national flags are reflected on helmets as military honour guards take part in National Day celebrations in Taipei, Taiwan, October 10, 2016. REUTERS/Tyrone Siu
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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