Wed, Mar 09, 2011 - Page 2 News List

CLA eyes pensions, labor insurance for divorce settlements

Staff Writer, with CNA

The Council of Labor Affairs (CLA) is hoping to make it possible for pension and labor insurance income to be included among the assets divided up in divorce settlements, Council of Labor Affairs Minister Jennifer Wang (王如玄) said yesterday

When a married couple decides to get divorced, their assets should be divided evenly, Wang said, but future income from pensions or insurance plans run by the council’s Labor Insurance Bureau have not been included among the assets.

Wang said the council was considering how to calculate the income so that it could be included in divorce settlements, and she expected the council to refer to formulas adopted in Germany and Japan, where similar practices exist.

The council is mulling two concepts to distribute the income evenly. One plan would split the pension income in half after the entitled spouse retired and separate checks would be sent to the former husband and wife.

The other idea would be to discount the future anticipated pension income and add it to the couple’s common asset pool at the time of the divorce, Wang said.

Wang did not provide a date for when the plan could be put in place.

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