People enrolled in the new Labor Pension Fund received record-breaking boosts to their pensions, as gains made through the fund’s investments were distributed across accounts today, the Bureau of Labor Insurance announced.
Investments made by the fund netted record gains of NT$698.97 billion (US$21.25 billion) last year, the bureau said.
A total of 12.92 million people enrolled in the fund had their pensions boosted, 200,000 more than the previous year, the bureau said.
Photo: Lee Chin-hui, Taipei Times
Of them, 7.49 million, or 58 percent, received more than NT$20,000 each, and 4.67 million, or 36.2 percent, received more than NT$50,000 each, it said.
Gains from the new Labor Investment Fund are tied to the personal investments of each person enrolled in the fund, the bureau said.
The additional amount each retiree receives in their pension depends on individual contributions, including duration and amount, the bureau said.
The distribution is not calculated by simply dividing the annual earnings evenly across accounts, which would average out to NT$54,000 per account, it said.
People can check their allocated pensions via the bureau’s online system (https://edesk.bli.gov.tw/me/#/na/login) or in-person at any local bureau office, it said.
Those banking with Taiwan Cooperative Bank, E.SUN Bank, Taishin Bank, Taipei Fubon Bank, First Bank or Chunghwa Post can check their earnings at ATMs starting tomorrow, as the allocation takes time to process, the bureau said.
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