| Summary: | 博士 === 東海大學 === 社會學系 === 97 === In the mid-20th century, retirement issues became popular among human longevity trends. Retirement preservation signifies the meaning and importance of wealth management(WM). But the formation of WM system must based on several social needs. The implementing of new public pension system and practicing of WM business in 2005 embodied the constructing of Taiwan WM regime. The financial means were introduced to revolve the problem of retirement preservation. This dissertation is to discuss the underdevelopment of Taiwan WM regime.
In the new public pension system, individual accounts transfers labors into investors. Although more labors get more pension payment compared to old system, they just can get lower employees’ welfare benefit. The investing capability of Labor Pension Fund Supervisory Committee was insufficient for labor’s needs. And the Treasury shall make up the shortfall in the event of any investment deficiency. Limited market capability coupled with limited state capability paradoxically resulted in the situation of low protection for employees. In the WM industry, the emerging WM business were regarded as the alternative for shrinking traditional business. When “demands of the customer” had narrowed down to only investing needs for customers and selling needs for banks, the WM banks became the shopping mall of financial products. The specialty and knowledge about WM and its specific social function were ignored in this process. The event of structured note reflected this underdevelopment of Taiwan WM industry and its peripheral character in global financial system.
The insight of sociological theories expresses the following concerns: The operating of WM doesn’t mean the fully marketization of wealth. The market rules must obedient to family rules in order to meet the specific social needs. Therefore, the satisfaction of social needs becomes the new objective of financial development. Importantly, the allocation of wealth resources by WM industry cannot expands far away from physical assets, or the “society-finance” relationshop will be collapsed. The WM and wealth itself will suffer for this damage.
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