Labor Fund increases by NT$20.9bn in October

Taipei, Dec. 2 (CNA) Funds managed by the Ministry of Labor's Bureau of Labor Funds earned NT$20.9 billion (US$640.23 million) in October, bringing 2024 gains to NT$93.91 billion as of the end of October, according to a report released Monday by the bureau.

The funds were valued at NT$6.8814 trillion and saw a 14.96 percent return rate for the first 10 months of the year, the bureau said Monday in the latest fund performance report.

The funds include the Labor Pension Fund valued at NT$4.5106 trillion, with a 14.59 return rate, the Labor Retirement Fund (NT$1.0469 trillion, 17.92 percent); the Labor Insurance Fund (NT$1.0956 trillion, 16.64 percent) and the Employment Insurance Fund (NT$172.40 billion, 3.42 percent).

The funds also comprise the Labor Occupational Accident Insurance Fund (NT$36.50 billion, 1.40 percent) and the Arrear Wage Payment Fund (NT$19.40 billion, 11.64 percent).

Furthermore, the National Pension Insurance Fund reached NT$609.90 billion, with a 16.01 percent yield. The Farmers' Pension Fund reached NT$19.30 billion, with an 18.56 percent yield.

For the 10 years until October 2024, the combined value of the labor funds, including the Labor Pension Fund, the Labor Retirement Fund, the Labor Insurance Fund, the Employment Insurance Fund and the Arrear Wage Payment Fund, posted an average rate of return of 6.70 percent.

Meanwhile, the National Pension Insurance Fund saw an average rate of return of 7.24 percent during the 10-years, according to the report.

The bureau also reviewed the performance of the financial markets, saying that U.S. retail sales were solid in September, as were non-farm payroll reports and the non-manufacturing index.

However, it noted that Taiwan's financial market performance in October was relatively weak, apart from the relatively solid stock market.

The Ministry of Labor pointed out that varied interest rate policies, uneven growth in major countries, the development of AI-related industries, the new U.S. government's fiscal policy, and geopolitical conflicts, could lead to uncertainty in the global financial market.