All foreigners a blocked from the new scheme - if you’re already covered under the old scheme - you can stay there. However, according to the actuarials - only people very close to retirement will benefit by staying under the old rules.
Hower if you want to voluntariy give another 6%, to cover yourself, you can do so, but don’t ask me if you get any tax break.
OK, the first paragraph of Art 7 states who receives mandatory coverage and the second paragraph states that certain persons are entitled to voluntary coverage (and it doesn’t state that it’s an exclusive list). Apparently “employers” is a mistake in translation and it should read “employees”; that is, manual laborers may voluntarily contribute. Same goes for domestic workers. Also, “commissioned managers” may voluntarily contribute and the law says nothing in that particular provision about those managers being only Taiwan citizens.
[quote]Article 7
All domestic workers who are subject to the Labor Standards Act shall be subject to this Act, excluding those workers whose pension funds shall be set aside in accordance with the Private School Act.
Employers who actually perform labor work, domestic workers who are not subject to the Labor Standards Act, and have obtained their employers’ consent to contribute to the pension funds for them, and commissioned managers may voluntarily make contributions and claim for pension fund payments in accordance with this Act.[/quote]
Here, read the Act. I may have missed something, but I no longer care. I’m leaving this shithole for greener/cleaner pastures. Good luck to you.
[quote=“Mother Theresa”]
Here, read the Act. I may have missed something, but I no longer care. I’m leaving this shithole for greener/cleaner pastures. Good luck to you.
bli.gov.tw/English/sub.asp?a=0008186[/quote]
If I understand that correctly, you’re leaving Taiwan? If so, all the best to you. I hope everything goes smoothly for you with your new life.
Thanks, again to MT and Tigerman for all of your help with this issue. In about 5 weeks I’ll know for sure if and how my boss will pay me for this pension thing.
wife’s (taiwan national) bushiban is offering to match a deposit of $950 every month with an equivalent deposit. there is a catch - she must show up to work half an hour early every day. she doesn’t need to really DO anything, just be there. employees don’t need to take the offer either - if they don’t want it, they can say no.
is this kind of offer legal? can the employer withhold paying the pension if the employee refuses to show up for work 30 minutes early every working day? seems a little strange to me … wondering if this is breaking any sort of law, so i can point it out.
any help here?
[quote=“xtrain_01”]wife’s (taiwan national) buxiban is offering to match a deposit of $950 every month with an equivalent deposit. there is a catch - she must show up to work half an hour early every day. she doesn’t need to really DO anything, just be there. employees don’t need to take the offer either - if they don’t want it, they can say no.
is this kind of offer legal? can the employer withhold paying the pension if the employee refuses to show up for work 30 minutes early every working day? seems a little strange to me … wondering if this is breaking any sort of law, so I can point it out.
any help here?[/quote]
That seems illegal. I have no choice but to pay into this pension fund. I guess it is a good thing, but I hate it when money goes out and not in. 
The new pension laws are elective with respect to foreigners and employers. For a foreigner employee to join the new pension system, employees have to express the desire to join to the employer. At that point it’s the responsibility of the employers to create an pension type account for the foreign employee. For futher information, one can call the Bureau of Labor Insurance.
That is my understanding as well. The difference between such elective funds established by an employer for a foreign national and a fund established by law for a Taiwan national employee is that the Government will not guarantee the interest rate for the foreign national’s fund.
The switch between the new & ols system is voluntary for all employees, foreign or local. What E&Y is telling me is that FN’s must stay under the old system.