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Employers shall, in accordance with the regulations, apply for the contribution of labor pension funds for foreign nationals holding permanent residence and applicable to the new labor pension system.

The amended Labor Pension Act was made effective on May 17, 2019. Foreign nationals with permanent residence are thereafter covered by the Act. All foreign nationals who are employed on or after that date and covered by the Labor Standards Act shall be included in the new system. Employers shall contribute no less than 6% of the foreign nationals' monthly wage to an individual labor pension account established by the Bureau of Labor Insurance (BLI).

The BLI further explained that, a foreign national with permanent residence may opt to continue adopting the old labor pension system if he/she was employed before the enforcement of the amended regulations (before May 16, 2019) and was covered by the Labor Standards Act. However, the foreign national shall, within six months (before November 16, 2019), notify his/her employer of such intention, failing which he/she shall be subject to the new labor pension system. The employer shall, within 15 days after the deadline (before December 2, 2019), duly apply to the BLI for contribution under the new labor pension system.

It is noteworthy that the “Act for the Recruitment and Employment of Foreign Professionals” has been enforced on February 8, 2018. If a foreign national is subject to the new labor pension system according to the provisions of the Act, such provisions shall prevail. The foreign national, therefore, shall not request to change the applicable system based on his/her status as a permanent resident.

The BLI also reminds the employers that, in order to safeguard the rights and interests of the workers, employers should follow relevant regulations and contribute to the pension fund under the new labor pension system within the deadline. Employers who fail to fulfill the above requirements shall be subject to fines or overdue penalty. BLI shall, in accordance with the regulations, announce the name of the insured unit and its responsible person, as well as other related information.
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Last Update:2020-02-06