labor pension 結果共8筆

Discover how Taiwan’s government plans to secure the future of its labor insurance fund, with a NT$120 billion allocation to address financial shortfalls and ensure sustainability for millions of workers.

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.

The labor minister of Taiwan, Hsu Ming-chun, has assured the public that the government-backed labor insurance will not face bankruptcy. Hsu emphasized that the government will continue to allocate supplementary funds to prevent this outcome. Concerns had arisen due to the growing imbalance between the number of pension recipients and payees, with predictions of bankruptcy by 2028. However, Hsu pointed out that the government has been providing supplementary pension funds for the past four years and assured that this plan will be maintained. She also stated that the government’s supplementary labor insurance provisions are considered part of administrative expenditures. While there are currently no provisions in place for additional government funds, Hsu suggested that it could be implemented if approved.

Facing inflation and an aging society, Taiwanese individuals worry about labor insurance fund bankruptcy. Survey highlights concerns and retirement preparation.

Taiwan is becoming an aging society, leading to an uptick in retirees reentering the job market in recent years. Many elderly individuals express a desire to stay connected with society and experience personal growth.

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. 

The average age for first-time pension recipients in Taiwan has decreased in recent years, according to data from the Bureau of Labor Insurance.