Information on 2020 Distributed Earnings of Labor Pension Fund (New Scheme) Is Now Available for Inquiry through Individual Labor Pension Accounts

Investments for the Labor Pension Fund (New Scheme) are utilized by the Bureau of Labor Funds, Ministry of Labor, and investment earnings are processed by the Bureau of Labor Insurance (BLI) for allocation into Individual Labor Pensions Accounts. In 2020, investment earnings for the Labor Pension Fund (New Scheme) totaled NTD 178.177 billion. The rate of return is 6.94%. The investment earnings shall be distributed to 12.05 million individual pension accounts participating in the allocation. The BLI has, on March 5, 2021, provided information on the distributed earnings through each individual pension account, enabling the workers to make inquiries.

The BLI explains that, since the labor pension premium amount and date of payment for each individual is different, the amount of contribution earnings resulting from labor pension fund utilization will differ. The amount distributed to the individual workers, therefore, is not calculated by straightly dividing the earnings of the year by the number of participating accounts. The amount actually received by each worker is different. According to the statistics provided by the BLI, there are about 5.43 million accounts (45.1%) receiving an amount of more than NTD10,000; 3.02 million accounts (25.1%) receiving more than NTD20,000; 2.42 million accounts (20.1%) receiving between NTD20,000 and NTD50,000, and 0.6 million accounts (5%) receiving more than NTD50,000.

Participating workers may inquire on the distributed amount through diversified channels. From March 5, 2021 onwards, they may visit the BLI’s website for “e-Service System” and make inquiries, using the Citizen Digital Certificate (card-inserting is required) or providing the NHI card number and household registration number (no card-inserting is required). Inquiries can also be made through smart phones or tablets by downloading the BLI Mobile Service APP (Device verification should be completed in advance.) Inquiries can also be made over the counter by visiting the BLI or its offices around the country and presenting relevant personal identification documents.. Due to the time needed for transmitting the information to the ATM machines, since March 6 workers may use Labor Pension Cards issued by Land Bank, E-Sun Bank, Taishin Bank, Fubon Bank, and Taipei First Bank at issuing bank ATMs, or their Post Financial Cards at Post Office ATMs to check their earnings allocations (please visit a post office to sign the BLI Information Inquiry Services Agreement in advance).