Miscellaneous
Characteristics of the New Labor Pension System
Understanding Taiwan’s Labor Regulations
Contents
Under the new Act, all employers are required to deposit 6% (or more) of a worker's monthly
wages into an individual labor pension account managed by the Bureau of Labor Insurance, with
ownership going to the worker. Business entities employing 200 or more workers shall decide
through their respective labor unions whether to adopt an annuity insurance program. If no labor
unions exists,with the approval obtained through a labor-management meeting and the central
competent(the Ministry of Labor), a business entity may take out an annuity insurance that
complies with the Insurance Act on behalf of those workers who choose, in writing, to take out
an annuity insurance.
