Taiwan FSC Chief Urges Human-Centered Trust Services

Taiwan’s rapid aging is increasing pressure on its financial system to better support retirement planning, long-term care payments and asset protection for people who may lose the ability to manage their affairs. Financial Supervisory Commission Chairman Peng Jin-lung has proposed an “all-age finance” policy, calling for financial services to shift from passive product sales toward actively safeguarding consumers’ financial security throughout different stages of life.

The latest policy discussion centers on gaps between insurance, trust arrangements and elderly-care services. Experts have urged legal changes allowing insurers to operate trust businesses, which could combine policies, asset management and care-related disbursements. They also proposed a three-party co-management structure involving financial institutions, care providers, and beneficiaries or their representatives. Authorities have not announced a legislative timetable, monetary eligibility thresholds or a formal implementation date.