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The Bureau of Labor Insurance Announces the Calculation Basis for Monthly Labor Pension Payment of the Labor Pension Program, Effective April 1, 2021.

The monthly pension payment under the Labor Pension Program was implemented in March, 2012. According to Article 31 of the Enforcement Rules of the Labor Pension Act, the terms life chart of annuity, average life expectancy, interest rate and the method for calculating the monthly labor pension payment thereof shall be subject to review on a triennial basis. The BLI announces the most recent calculation basis for the monthly pension payment approved by the Ministry of Labor, which shall take effect on 1 April, 2021.

  1. Life Chart of Annuity
    The 2019 Abridged Life Table of Republic of China (Single Age, All) announced by the Ministry of the Interior shall prevail.
  2. Average Life Expectancy
    The average life expectancy is determined based on the age of the worker at the time of pension application, referring to the “Average Life Expectancy” for the specific age shown on the aforementioned life chart. The amount then rounded to the nearest whole number.
  3. Interest Rate
    The interest rate is 0.9870%, being the annual average of the guaranteed rate of return for the Labor Pension Program (new system) of the three preceding years (2018-2020) as announced by the Bureau of Labor Funds, Ministry of Labor.

The newly-approved calculation basis for monthly labor pension payment shall take effect on April 1, 2021 and shall apply to all new applications for monthly labor pension payment thereafter. As for the cases already approved before the aforementioned date, the amount for future payments shall be recalculated in May, 2021 when the BLI administers the monthly pension payment for the period of April to June, 2021, based on the remaining amount in the worker's individual labor pension account and using the prevailing interest rate. A separate notice shall be distributed when making the payment.

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Last Update:2021-04-21