TDCC wins the first Taiwan Sustainability Action Award for its ReLife Scheme
The presentation ceremony of the first (2021) Taiwan Sustainability Action Awards (TSAA) was held at the Grand Hotel on October 13. TDCC was one of the award winners on merit of its ReLife scheme, an experimental voluntary pension investment program open to the general public. On behalf of TDCC, Senior Executive Vice President Jane Chang attended the ceremony to receive the award.
Ms. Chang said a graceful retirement is a common pursuit that requires life-long preparations. By leveraging its resources and core capabilities, TDCC rolled out the ReLife scheme, which is friendly to senior citizens and caters to the needs of the general public at the same time, in order to enhance the common good, benefitting businesses and the society while educating the public about the importance of planning ahead for one’s retirement. The ReLife scheme is in line with the sustainable development goals (SDGs) of the United Nations, in particular the objectives of “No Poverty”, “Zero Hunger”, “Good Health and Well-being”, “Reduced Inequalities” and “Sustainable Cities and Communities”.
In Taiwan, the average life expectancy has been extended to a new high of 81.3 years. By 2025, Taiwan will have become a super-aged society, so making plans to provide for one’s retirement is an ever more important issue. Given the government’s policy to expand financial inclusion and serve the public with available financial services, TDCC has engaged in the promotion of retirement preparation. In light of an ageing society and low birth rate in Taiwan, TDCC introduced the ReLife scheme in a bid to encourage retirement preparation and stimulate demand for long-term investment. TDCC also launched the Pension Platform, which provides not only fund investment services but also life and casualty insurance products. A section of financial education was established on the platform to equip the public with basic knowledge about investment and different financial instruments so that they can prepare early for retirement.
Population ageing is a definite trend in Taiwan. The Financial Supervisory Commission has in recent years pushed for development of senior-focused investment products and encouraged service innovation. However, in order to achieve the policy objective, it is imperative that the public and private sectors work in collaboration. TDCC has spared no efforts trying to create a better environment where it can fulfill its corporate social responsibility and leverage its financial expertise to strengthen the social safety net.