They’re not taking anything out for retirement. Are foreigners supposed to be excluded from the retirment plan? I decided long ago to prepare for retirement myself, but would like to know if I’m being treated unfairly.
The newly revised pension retirement law does not apply to foreigners. Employers may make their own retirement plans for foreigners.
That’s very good to know. Thanks for the help. So does this mean retirement plans for foreigners are optional? I guess that’s what you mean. I think I’ll have to negotiate this next time my contract is up for review (if I decide that this is something work pushing for).
Yup, they’re optional and if you have leverage then negotiating it into your package is definitely the way to go People ought to be aware of that. Good heads up!
Clarification of the above post.
Foreign employees must specifically ask that they be a part of the pension system and the employer must comply with that request. Participation for foreign workers is elective, not compulsory. Foreigners who need additional information may contact Miss Yen Li-Chi at the Bureau of Labor Insurance at 02-2396-1266 ext. 5131.
Has anyone done this?
So we are allowed to join the same scheme as everyone else ? I got the impression from another thread that we could not join even if we wanted to. Was my impression wrong ?
Your impression was partly correct. First, the above people are correct that employers are definitely not required to include foreigners in the new retirement plan. The only question is whether they can be voluntarily included out of the goodness of your employer’s heart. My recollection is that in the thread you refer to someone’s employer stated, based on consultation with a government official, that foreigners are not allowed to be included in the new plan. So, his experience was that foreigners can’t even be included by the employer voluntarily. However, I’ve done some research on the new plan and found opinions to the contrary – that foreigners can be voluntarily included. And I believe one or two other people in that thread (perhaps Tigerman) voiced the same opinion.
Aside from the undisputable fact that employers are not required to include foreigners under the plan, one other thing is clear: there is still a lot of uncertainty re the new plan. It does not go into effect until July 1 and I am sure one will still get many different answers from the different authorities on various issues, depending on what person one happens to be speaking to. :s