Taiwan’s labor insurance fund hits record NT$1 trillion

Taiwan’s labor insurance fund hits record NT$1 trillion (TVBS News)
Taiwan’s labor insurance fund hits record NT$1 trillion (TVBS News)

TAIPEI (TVBS News) — The Ministry of Labor (勞動部) announced on Tuesday (June 18) that it would maintain investments in the Labor Insurance Fund to ensure its steady growth.

This announcement comes as the fund reached a milestone of over NT$1 trillion for the first time, bolstered by a final June installment that brought this year's total government contribution to NT$130 billion. Chen Mei-nu (陳美女), head of the Department of Labor Insurance, highlighted the government's commitment of NT$120 billion this year, with an additional NT$10 billion from the post-pandemic special budget.

Chen also indicated that next year's government allocation would be no less than NT$120 billion, ensuring ongoing stability for the fund. Since 2017, the Labor Insurance Fund has faced deficits, falling to NT$680 billion in 2018. However, recent government allocations and successful investments have significantly raised the fund's balance, from NT$753.4 billion at the end of 2022 to NT$981 billion by April.

Experts remain divided on the fund's sustainability. Huang Hong-chih (黃泓智), a professor at National Chengchi University, views these allocations as necessary but insufficient reforms. Conversely, Chung San-lin (張森林), a finance professor at National Taiwan University, challenged claims that the Labor Insurance Fund is financially stable, comparing its rapid expenditure to a "runaway train."

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