In 20 years time, the labor insurance program for the 9.41 million private employees may go bankrupt. This was seen after their estimated deficit went from NT$3.13 trillion to NT$5.5 trillion. The increase in debt appears to be the result of a new policy that now offers a life-long pension instead of one lump-sum old-age payment to an insured retiree. The labor insurance program entails a 6.5 percent premium rate while the new system requires an increase 23.84 percent. But even if the program rises to the 12 percent rate…
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