Business Topic

Old-age Pension Benefits

Qualification
Those who are the insured persons under the National Pension Program or enrolled in this program before may claim the old-age pension benefits when they reach the age of 65, regardless of how long their insurance period is. They will be paid this pension every month from the month when they become eligible, that is, when they turn 65, until the month when they die.
Amount of Benefit
1. Calculation standard
  Old-age benefits are calculated and the most advantageous method is chosen from below methods:
  Method A ＝（Monthly Insured Amount × Insurance coverage year ×0.65%）+NT$4,049 (From 2016.01.01 to 2019.12.31, the amount is NT$3,628；from2020.01.01 to 2023.12.31, the amount is NT$3,772；after 2024.01.01, the amount is $4,049)
  Method B ＝（Monthly Insured Amount × Insurance coverage year ×1.3%）
2. Method A shall not be applicable to individuals meeting the following conditions:
  1. The individual is concurrently receiving other social welfare allowances.
  2. The individual has overdue payments of more than 10 years.
  3. Before December 31, 2008, the individual has received old-age pension payments under the civil servants insurance program or retirement payments under the military personnel insurance program. The total insured years for such benefits, however, is less than 15 years or the total lump sum benefit payments received is less than NT$500,000. In such cases, the pension/retirement benefits received under the civil servants insurance or military personnel insurance programs shall be offset against the national pension benefits receivable. In other words, a monthly deduction of NT$3,000 shall be made, beginning from the month the insured has attained the age of 65 and until the full amount has been offset.
  4. Before December 31, 2008, the individual has received pension payments under the civil servants insurance program or retirement payments under the military personnel insurance program. The number of total insured years has exceeded 15 years, and the amount of the lump sum pension payments is more than NT$500,000.
  5. After January 1, 2009 (when the labor pension system was implemented), the individual has received labor insurance old-age benefits, pension payments under the civil servants insurance program or retirement payments under the military personnel insurance program. The total insured years for such benefits, however, is less than 15 years or the total lump sum benefit payments received is less than NT$500,000. In such cases, the pension/retirement benefits received under the civil servants insurance or military personnel insurance programs shall be offset against the national pension benefits receivable. In other words, a monthly deduction of NT$3,000 shall be made, beginning from the month the insured has attained the age of 65 and until the full amount has been offset.
  6. After January 1, 2009 (when the labor pension system was implemented), the individual has received labor pension old age benefits, pension payments under the civil servants insurance program or retirement payments under the military personnel insurance program. The total insured years for such benefits has exceeded 15 years and the total lump sum benefit payments received is more than NT$500,000.
  7. The individual has received labor insurance old-age pension benefits or the old-age pension benefits under the Civil Servants and Teachers Insurance program.
  8. If during the one year when the individual is between 64 and 65 years of age, he/she fails to pay the premium or the interest on time, and does not make the overdue payment until after the extended deadline specified by the insurer in the written tracer, method B shall be the sole method adopted when calculating the old-age benefits for the first three months.

Last Update：2024-02-22