Ever Since the Implementation of the National Health Insurance Program in 1995, the Build-Up of a National Pension Scheme as well as the Labor Retirement Economic System Reform Have Become the Major Concerns Regarding the Social Policy in Taiwan. For the Theoretical and Practical Purposes, This Study Tries to Analyze the Concepts of Pension, National Pension Scheme and Provident Fund, Then to Analyze and Compare Different National Pension Schemes and Provident Fund Schemes Around the World. Based on the Results of This Study, the Author Recommends the Proper Authorities to Take the Provident Fund Scheme Like Singapore Model into Account for the Reform of the Labor Retirement Economic System and Take Denmark or Canadian Model into Account for the Setup of a National Pension Scheme in Taiwan. However, the Reform of the Labor Retirement Economic System Should Have Priority Over the Fulfillment of a National Pension Scheme.