The nation’s labor insurance premium rate is to rise to 12.5 percent beginning next year, the Ministry of Labor said.
An estimated 10.51 million workers would be affected by the increased insurance premium, which is currently set at 12 percent of the insured party’s monthly salary.
The hike is part of a gradual increase in premiums introduced in tandem with the launch of the labor pension program in 2009.
Photo: Lee Ching-hui, Taipei Times
Under Article 13 of the Labor Insurance Act (勞工保險條例), the premium rate began at 7.5 percent. It was raised to 8 percent in the third year of the program, then by 0.5 percentage points each year until it reached 10 percent, after which the adjustment would be carried out every two years until it reaches a cap of 13 percent.
The most recent adjustment was made in January last year, when the insurance premium was raised from 11.5 percent to 12 percent.
In Taiwan, the insurance premium is shared between the employer, employee and government at a ratio of 7:2:1.
Citing a worker with a monthly salary of NT$28,590 as an example, the ministry said the employer would need to pay NT$2,502 of the insurance bill based on next year’s rate of 12.5 percent, while the employee and the government would pay NT$715 and NT$358 respectively.
The hike next year is expected to help boost the government’s labor insurance funds, with an annual increase of over NT$20 billion (US$609.32 million) in additional income.
Taiwan is stepping up plans to create self-sufficient supply chains for combat drones and increase foreign orders from the US to counter China’s numerical superiority, a defense official said on Saturday. Commenting on condition of anonymity, the official said the nation’s armed forces are in agreement with US Admiral Samuel Paparo’s assessment that Taiwan’s military must be prepared to turn the nation’s waters into a “hellscape” for the Chinese People’s Liberation Army (PLA). Paparo, the commander of the US Indo-Pacific Command, reiterated the concept during a Congressional hearing in Washington on Wednesday. He first coined the term in a security conference last
Prosecutors today declined to say who was questioned regarding alleged forgery on petitions to recall Democratic Progressive Party (DPP) legislators, after Chinese-language media earlier reported that members of the Chinese Nationalist Party (KMT) Youth League were brought in for questioning. The Ministry of Justice Investigation Bureau confirmed that two people had been questioned, but did not disclose any further information about the ongoing investigation. KMT Youth League members Lee Hsiao-liang (李孝亮) and Liu Szu-yin (劉思吟) — who are leading the effort to recall DPP caucus chief executive Rosalia Wu (吳思瑤) and Legislator Wu Pei-yi (吳沛憶) — both posted on Facebook saying: “I
The Ministry of Economic Affairs has fined Taobao NT$1.2 million (US$36,912) for advertisements that exceed its approved business scope, requiring the Chinese e-commerce platform to make corrections in the first half of this year or its license may be revoked. Lawmakers have called for stricter enforcement of Chinese e-commerce platforms and measures to prevent China from laundering its goods through Taiwan in response to US President Donald Trump’s heavy tariffs on China. The Legislative Yuan’s Finance Committee met today to discuss policies to prevent China from dumping goods in Taiwan, inviting government agencies to report. Democratic Progressive Party Legislator Kuo Kuo-wen (郭國文) said
The Ministry of Economic Affairs has fined Taobao NT$1.2 million (US$36,900) for advertisements that exceeded its approved business scope and ordered the Chinese e-commerce platform to make corrections in the first half of this year or its license would be revoked. Lawmakers have called for stricter supervision of Chinese e-commerce platforms and more stringent measures to prevent China from laundering its goods through Taiwan as US President Donald Trump’s administration cracks down on origin laundering. The legislature’s Finance Committee yesterday met to discuss policies to prevent China from dumping goods in Taiwan, inviting government agencies to report on the matter. Democratic Progressive Party
RSS