Not Labor Insurance or Retirement Pension! Workers Forget There’s a 3rd Retirement Fund—'Receive Extra $66,000 Annually' While Still Employed: Eligibility and Application Methods Explained

As Taiwan enters an aging society, many workers continue their careers past age 60 even after receiving Labor Insurance old-age benefits or labor retirement funds. However, most people are unaware that the government has established a 'third retirement fund' mechanism—when re-employed after retirement, employers are legally required to continue contributing 6% of wages monthly into a personal retirement account, from which workers can apply to withdraw funds once per year. According to the latest statistics from the Labor Insurance Bureau, this 'continued retirement contribution' averages approximately NT$66,218 per person annually, offering additional financial security for older workers.

What is the 'Continued Retirement Contribution'? No Age Limit, Contributions Required Even for Multiple Jobs

Under the Labor Retirement Act, even if a worker has already turned 60 and received a lump-sum or monthly retirement pension, once re-employed, the employer still has a legal obligation to contribute at least 6% of the worker’s monthly salary into their individual Labor Retirement Account.

This mechanism applies regardless of age or years of service, and remains valid even for workers over 90 years old. Moreover, if a worker holds multiple jobs simultaneously, each employer must separately contribute 6% to the retirement fund (though contribution years are not counted cumulatively).

Earn Extra Money After Retirement! Labor Insurance Bureau Reports Average Annual 'Continued Retirement Contribution' of NT$66,000—Eligibility and Application Channels Explained

To successfully receive this additional retirement fund, workers must meet the following core conditions:

· Aged 60 or older and previously received retirement benefits: Must have already applied for and received retirement funds under either the new or old Labor Retirement Scheme, and currently be employed.

· Limited to one application per year (one-year waiting period): There must be at least one full year between applications. For example, if a disbursement was approved on August 1, 2025, the next application cannot be submitted until August 1, 2026.

· No limit on number of applications: As long as the worker remains employed and contributions continue, they may apply annually without restriction.

The actual amount received will be based on the total principal and accumulated earnings in the account at the time of approval. In the unfortunate event of the worker’s death, dependents may apply to receive the remaining balance within 10 years of the worker’s passing; otherwise, the right to claim expires.

Application and Inquiry Channels

The 'continued retirement contribution' is a personal entitlement for workers, and applications must be submitted directly by the worker to the Labor Insurance Bureau—no employer involvement is required. Main application and inquiry methods include:

· Online Application and Inquiry: Prepare a card reader and use your Natural Person Certificate to log in to the 'Labor Insurance Bureau e-Service System,' where you can check your account balance, simulate payout amounts, and submit applications online.

· Paper and In-Person Submission: Complete the 'Labor Retirement Fund Application and Receipt Form,' attach copies of identification documents and a designated domestic bank account passbook, and mail it to the Labor Insurance Bureau or submit it in person at local offices.

· ATM Inquiry via Financial Cards: Use a Labor Protection Card or Postal Financial Card at physical ATMs to check account balances and accrued earnings.

The Labor Insurance Bureau notes that upon receipt of complete documentation, review and disbursement typically occur within 30 days. Overseas residents may authorize a representative by submitting a power of attorney verified by a diplomatic mission. Those choosing to receive payments in foreign accounts should note that associated transfer fees will be deducted from the retirement fund. If found ineligible, recipients must repay the funds within 30 days of notification to avoid statutory late interest charges.