Over NT$20,000 in pension fund earnings distributed to most workers

Taipei, March 3 (CNA) A majority of people enrolled in the new Labor Pension Fund received a boost of over NT$20,000 (US$633.18) to their pensions following the distribution of record gains made from the fund's investment on Tuesday, according to the Bureau of Labor Insurance (BLI).

Investments made by the fund reported record gains of NT$746.89 billion (US$23.6 billion) last year, up from NT$698.97 billion in 2024, the bureau said.

A total of 13.10 million people enrolled in the fund had their pension accounts boosted on Tuesday, as the earnings were distributed, the bureau said.

Of those, 7.72 million, or 59 percent of accounts, received more than NT$20,000 each, while 4.93 million, or 37.7 percent, received more than NT$50,000 each, it said.

People wishing to check the balance of their new Labor Pension Fund can do so by logging into the e-Service System on the Bureau of Labor Insurance website, at an ATM, or at a local BLI office, the bureau said.

Under Taiwan's new labor pension system, launched in 2015, employers must contribute at least 6 percent of workers' monthly wages to individual pension accounts at the BLI.

Workers can also voluntarily contribute up to 6 percent of their monthly wages to the pension accounts.

Upon turning 60, workers can choose to access their pensions. Workers who have made contributions to the pension for less than 15 years can claim a lump-sum payment, while workers with over 15 years of contributions can choose either a lump-sum or monthly payments.