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Business Topic

Payment Procedures

1.    Calculation of the Payment Amount
The monthly contribution amount by the farmer shall be calculated based on the monthly basic wage of labors announced by the Ministry of Labor, multiplied by the payment ratio. The payment ratio shall be decided by farmers within a range of 10%, and shall be an integer. 
[Example]: Farmers' Association A declares that Farmer A has started making payment on January 1, 2024. The payment ratio is 10%. The monthly basic wage of labors announced at that time is NTD27,470. The amount to be made by Farmer A for January 2024 shall be: NTD27,470 x 10% = NTD2,747. (The competent authority shall, when Farmer A has deposited the amount as required, deposit the same amount into the individual pension account of Farmer A under the Farmers’Pension System).

2.    Payment Methods and Related Explanation
(1)    Payment Methods: To make payment for the contribution, the farmer should apply for automatic fund transfer from the Credit Department of the base level farmers' association through which they are covered by FHI. If there is no Credit Department in the farmers' association, he/she shall apply for automatic fund transfer from the post offices.
(2)    Related Explanation:If the BLI has unsuccessfully tried to collect the funds that a farmer shall pay into his/her farmers’ pension for six consecutive months, this will be seen as a voluntary ceasing of payments; in cases in which the farmer applies to begin payments anew, shall fill out applications again and file them with the base level farmers’ association through which they are covered by FHI.
Last Update:2024-01-02