Taiwan gold charms for centenarians cost NT$97 million as numbers surge

Taiwan's Ministry of Health and Welfare spent NT$97.2 million on gold charms for 6,489 centenarians this Double Ninth Festival, up from 5,749 last year. The cost rose despite a dip in gold prices from a high of NT$5,066 per gram.

Taiwan's Ministry of Health and Welfare spent NT$97,221,346 (US$3 million) on traditional gold lock-shaped charms for the nation's centenarians this Double Ninth Festival, up from NT$76,990,000 last year, the Social and Family Affairs Administration said on Friday.

Administration Director Chou Tao-chun said there are 6,489 Taiwanese aged 100 years or older this year, up from 5,749 last year. Of these, 2,490 became or are becoming centenarians this year, qualifying them for the customary gift of gold charms weighing about 5.6g apiece.

Officials had feared the expense would exceed NT$100 million before gold prices fell from a high of NT$5,066 per gram, Chou said. The festival falls on Oct. 18 this year.

Deputy Minister of Health and Welfare Lu Chien-te said more than 4.8 million Taiwanese were 65 years old or older as of the last count, or 20.7 per cent of the total population. Taiwan's long-term care budget this year is NT$115.3 billion, a significant increase from NT$92.7 billion last year, with an additional NT$6.25 billion to fund care for older Taiwanese who live alone over the next two years.

The nation has more than 5,200 community-based care centres for senior citizens, operated by volunteers and older people in the area, Lu said. The agency is working to include older people living alone in its care network to ensure their safety and wellbeing.