Wang: Jan. 1, 2009.
TJ: What part of this Act differs from the existing law?
Wang: The current regulation only allows workers to apply for a lump-sum payment. The amendment would allow them to enjoy a monthly allowance.
TJ: What is the labor pension payment?
Wang: With regard to those workers who have attained the age of 60 with insurance coverage less than 15 years, the pension shall be given in a lump sum. With regard to those workers who have reached age 60 with insurance coverage of more than 15 years, the pension shall be given monthly.
TJ: What is the insurance premium?
Wang: The insurance premium rate was 7.5 percent when the amendments of this act was promulgated and will be enforced Jan. 1, 2009. Three years after the new regulation is introduced, the premium rate will be increased by 0.5 percent. After that, 0.5 percent will be added to the insurance premium rate every year until the rate reaches a maximum of 10 percent.
TJ: How does the insurance premium work?
Wang: In the case of an insured worker with a definite employer, 70 percent of the ordinary insurance premiums are paid by the employer, 20 percent by the insured worker, and 10 percent by the government. The occupational accident insurance premium is paid entirely by the employer.
--By Tso Lon-di
Write to Tso Lon-di at londi@mail.gio.gov.tw