Labor Insurance Act Revision Raises Insured Age to 65

          A revision of the Labor Insurance Act that was approved by the Executive Yuan on April 26 will extend the age for compulsory labor insurance coverage from 60 to 65. The revision, which was formulated in response to the trend toward higher retirement ages, has been sent to the Legislative Yuan for deliberation.

　　The revision will also reduce the minimum number of persons employed by enterprises covered by the act, from the current five employees to four. This change is expected to benefit 50,000 enterprises and more than 200,000 workers.

　　Other important points of the revision include a reduction of the surcharge on late premium payments from 0.2% to 0.1%, a reduction of the maximum payment from 100% to 30% of the payable amount (thereby lightening the burden on workers), and a lengthening of the period allowed for compensation applications from two years to five.

　　For more about the content of the revision, please go online and visit one of these websites: http://www.ey.gov.tw/public/Attachment/64301804171.doc, or http://www.ey.gov.tw/public/Attachment/64301805471.doc.

Back to News Page