By: Liu Kuan-ting and Y.F. Low
Taipei, April 26 (CNA) The Legislative Yuan on Friday passed an amendment to the Labor Pension Act to include all foreigners with permanent residency in Taiwan in the country’s retirement pension system.
Under the system, employers are obliged to contribute funds equivalent to a minimum of 6 percent of monthly salary to employee pension accounts every month.
Meanwhile, employees have the option of depositing a maximum of 6 percent of their salaries in the accounts, with the deposits exempt from income tax. [FULL STORY]