In response to the queries about the lawful minimum age for claiming the labor insurance old-age pension benefit, the Bureau of Labor Insurance (hereinafter referred to as BLI) advises that workers who have attained the age of 60 before or during the year of 2017 with a labor insurance coverage of fifteen years or more may claim for the old-age pension benefit. The worker may, at his/her own discretion, claim for the benefit at most five years in advance (at the age of 55). With effect from the year 2018, however, the minimum age for claiming the old-age pension benefit shall be raised to 65 on a staged basis. For workers born in 1960, therefore, they will become eligible to claim for the "Deducted Old-Age Pension Benefit" in year 2018 when they reach the age of 58.
Since the implementation of the labor insurance pension program on January 1, 2009, it has been clearly set forth that the minimum age for claiming the old-age pension benefit shall be 60. The threshold shall be raised by one year in the tenth year after the implementation of the program and further raised by one year in every two years thereafter, until it reaches 65 which is the maximum limit. (Please refer to the attached table) Based on this rule, workers born before or during the year 1957 have been eligible for the claim when they attained the age of 60. Workers born during the period of 1958 to 1961 shall become eligible for the benefit at the age between 61 and 64, respectively. Workers born during or after the year 1962 shall all become eligible for the benefit at the statutory age of 65. They may apply for an advanced payment of the old-age pension benefit at a discount, however, at the earliest age of 60.
The BLI reminds all workers that, once the application for an early or postponed old-age pension benefit has been submitted and approved, the percentage of increased or deducted payment shall not be changed afterwards. To ensure that a most favorable decision is made, workers are encouraged to check the pension amount carefully using the "Over-the-Counter Calculation Service", which is available at the local offices of the Bureau, or the "Online Calculation Service" through a citizen digital certificate.
Attachment:
Relationship between the Year of Birth of the Insured and the Minimum Age for Claiming the Labor Insurance Old-Age Pension Benefit
Year of Birth |
Before or during year 1957 |
1958 |
1959 |
1960 |
1961 |
After or during year 1962 |
Year |
2009-2017 |
2019 |
2021 |
2023 |
2025 |
2027 |
Minimum Age for Claim as Prescribed by Law |
60 |
61 |
62 |
63 |
64 |
65 |
Minimum Age for Claimimg Deducted Pension Payment |
55-59 |
56-60 |
57-61 |
58-62 |
59-63 |
60-64 |
Note: The minimum age shall be raised by one year in the tenth year after the implementation of the program. The threshold shall be further raised by one year in every two years thereafter, until it reaches 65 which is the maximum limit.
Percentage of Deducted (Increased) Labor Insurance Old-Age Pension Benefit
Number of Years Advanced (Postponed) |
1 |
2 |
3 |
4 |
5 |
Percentage of Deduction (Increase) |
4% |
8% |
12% |
16% |
20% |
Note: If the period of advanced (postponed) payment is less than one year, the percentage of deduction (increase) shall be calculated on a prorated basis according to the actual months of the advanced (postponed) payment.