Labor Pension Act 結果共3筆

As Taiwan’s elections approach, voter concerns over low wages and the Labor Insurance Fund’s bankruptcy are at the forefront. Labor groups criticize major parties for inadequate labor reforms, with a focus on enhancing labor rights and wages.

The ＂Pension Contribution During Mandatory Military Service Act＂ was passed by Taiwan’s Legislative Yuan, requiring a 6% monthly pension deduction from servicemen’s salaries starting January 1, 2024. The law mandates that the hosting organization deducts this percentage from each serviceman’s wages and allowances, with the funds being deposited into personal pension accounts established by the Labor Insurance Bureau of the Ministry of Labor. Upon retirement from the military, individuals can participate in pension systems across various sectors. The Executive Yuan also approved a plan to strengthen and recalibrate the national defense force structure in 2022, including lengthening the military service term for men born after 2005 to one year starting from January 1, 2023. The Ministry of National Defense sees this act as treating military service as part of one’s personal career.

According to recent data from the Bureau of Labor Insurance, approximately 13.5% of Taiwan’s workforce, which amounts to over one million workers, voluntarily contributed to their pension accounts in March.