Mark Your Calendar! Labor Insurance Bureau's August Payouts: Average NT$19,000 Monthly for Labor Pension, 19 Benefits Deposit Dates Revealed

August brings a wave of subsidies! The Ministry of Labor’s Labor Insurance Bureau has begun disbursing multiple social insurance benefits. Starting today (6th), the National Health Insurance (NHI) maternity benefit has been credited, and due to an increase in the monthly insured salary base, eligible female insured individuals can now receive up to NT$42,206 in a single payment.

In addition to maternity benefits, a total of 19 payments—including labor pensions, farmers’ retirement savings, and elderly farmer allowances—will be deposited on designated dates throughout the month. Citizens are advised to check their bankbooks to confirm successful deposits.

National Insurance Maternity Benefit Raised to NT$42,000: Act Within 5-Year Window

To strengthen social protection, the National Insurance monthly insured salary has been raised from NT$19,761 to NT$21,103, resulting in higher benefit amounts. Under regulations, female insured persons who give birth or experience premature delivery during active NHI coverage are entitled to a maternity benefit equal to two months of the insured salary.

With the updated rate, the maternity benefit has increased from approximately NT$39,522 to NT$42,206. For twins or multiples, the amount is multiplied accordingly.

Important Note: According to Article 28 of the National Health Insurance Act, there is a five-year statute of limitations for claiming maternity benefits (calculated from the day after delivery or premature birth). Applications not submitted within this period will be denied. Insured individuals who were covered during pregnancy but withdrew from insurance may still apply within one year of delivery, provided they did not receive maternity benefits from another social insurance program.

Labor Pension Averages NT$19,000 Monthly: 'Paid for Life' with No Cap

Among all disbursements, the most widely received is the “Labor Pension Annuity,” scheduled for deposit on August 30. To date, over 2.1 million workers across Taiwan have claimed labor pensions, with monthly payouts exceeding NT$40 billion in total, averaging approximately NT$19,105 per person.

The labor pension includes “Old-Age Pension,” “Disability Pension,” and “Survivor Pension.” The old-age pension can be claimed upon reaching age 65 with at least 15 years of Labor Insurance coverage. Its key advantage is that it is paid “for life” with no upper limit—payments continue as long as the insured individual is alive.

Understanding the Key Difference: Labor Pension vs. Retirement Lump-Sum (Monthly Option)

Many people confuse the “Labor Pension” with the “Retirement Lump-Sum (monthly withdrawal option).” These differ fundamentally in operation:

Labor Pension: A social insurance program jointly funded by employees, employers, and the government. It features lifelong, uncapped payments.

Retirement Lump-Sum (Monthly Option): A personal retirement account where employers are required to contribute at least 6% of wages monthly into an individual’s account, accumulating principal and interest. This benefit has a fixed total; once the account balance is exhausted, payments cease.

Note: The “Retirement Lump-Sum (First Disbursement Case)” listed refers to the initial payout from an individual’s retirement account for workers aged 60+ with 15+ years of service upon application.

Eligibility and Calculation Formula for Labor Old-Age Pension

To claim the Labor Old-Age Pension, applicants must meet three core conditions:

- Reach the statutory retirement age: Currently set at age 65 (varies by birth year). - Accumulate at least 15 years of Labor Insurance coverage: No upper limit on years; longer tenure increases the annuity base. - Complete formal resignation and de-registration: Must officially process de-registration through the former employer.

How is the pension amount calculated?

The Labor Insurance Bureau uses the applicant’s “average monthly insured salary” (the average of the highest 60 months of insured salaries in their career) and “total years of coverage” to calculate benefits using two formulas, awarding the more favorable result:

Formula A: Average Monthly Insured Salary × Years of Coverage × 0.775% + NT$3,000

Formula B: Average Monthly Insured Salary × Years of Coverage × 1.55%

Deferred and Reduced Withdrawal Mechanisms

Deferred Withdrawal (delayed claiming): For each year delayed beyond age 65, the payout increases by 4%, up to 20% for a maximum 5-year delay.

Reduced Withdrawal (early claiming): Individuals with at least 15 years of coverage but under the statutory age may claim early, reducing the amount by 4% per year (up to 20% for a 5-year advance).

August 2023: Schedule of 19 Scheduled Benefit Disbursements

All benefits will be deposited on specified dates—citizens should remain vigilant:

- August 6: National Health Insurance Maternity Benefit - August 13: National Health Insurance Maternity Benefit - August 14: National Health Insurance Funeral Benefit - August 20: National Health Insurance Maternity Benefit, Farmers’ Monthly Retirement Savings, Elderly Farmer Allowance - August 25: National Health Insurance Basic Guaranteed Old-Age Pension, National Health Insurance Indigenous Benefit - August 27: National Health Insurance Maternity Benefit - August 28: Labor Pension Annuity, Disaster Insurance Annuity, Disability Care Subsidy, Retirement Lump-Sum (First and Ongoing Cases) - August 31: Wage Subsidy for Prenatal Check-Up Leave and Partner Accompaniment Leave, NHI Disability Pension (with Labor Insurance Years Included), National Health Insurance Old-Age Pension, National Health Insurance Funeral Benefit, National Health Insurance Survivor Pension (Scheduled Deposit), National Health Insurance Disability (Basic Guaranteed) Pension