Foreign professionals under new labor pension system; written declaration required by June for old system

Central News Agency, Taipei, June 2. Starting January 1 this year, foreign professionals are eligible for the new labor pension system regardless of their permanent residency status. The Bureau of Labor Insurance reminds foreign professionals who wish to continue under the old pension system that they must declare this in writing to their employers by June 30. Those who do not make a selection by the deadline will automatically be covered by the new system. Under the amended Act for the Recruitment and Employment of Foreign Professionals, employers are required to contribute at least 6% of the monthly salary to a personal pension account for these professionals. The Bureau of Labor Insurance advises employers to file retroactive contributions by July 15. Applications require a 'Labor Pension Contribution Declaration Form,' a copy of the residence permit, and proof of professional work.