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Employee Benefits in Taiwan 2018

Employee Benefits in Taiwan 2018

Summary

The Taiwanese social security system ensures that it meets all the social requirements of the country’s employees that are engaged in trade and commerce, or are employees of private and public sector companies. Persons working in mines and plantations, fishermen, and some self-employed persons are also protected through social security. Under the labor insurance program, self-employed people who are not covered through an occupational union, and people who are involuntarily unemployed with a minimum of 15 years’ coverage may take voluntary insurance. The Taiwanese government makes sure that the Taiwan Labor Standard Law (TLSL) and Labor Pension Act (LPA) protect the rights of citizens. The pension policy, which was implemented in 2008, has led to wider coverage of the population and increased efficiency.

The report provides in-depth industry analysis, information and insights of the employee benefits in Taiwan, including: overview of the state and compulsory benefits in Taiwan, detailed information about the private benefits in Taiwan, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Taiwan.

Key Highlights

  • The Taiwanese social security system ensures that it meets all the social requirements of the country’s employees that are engaged in trade and commerce, or are employees of private and public sector companies.
  • The branches of the social security system that cover various risks and provide related benefits are the labor insurance program, labor pension fund and national pension program.
  • The social insurance system comprises two types of benefits - flat-rate benefits and income-related benefits - while the national pension program provides flat-rate benefits and the labor insurance program provides income-related benefits.
  • Compulsory benefits are provided to employees by their employers, and are mandated by law.
Scope
  • This report provides a detailed analysis of employee benefits in Taiwan.
  • It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
  • It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Taiwan.
Reasons to buy
  • Make strategic decisions using in-depth information related to employee benefits in Taiwan.
  • Assess Taiwanese employee benefits market, including state and compulsory benefits and private benefits.
  • Gain insights into the key employee benefit schemes offered by private employers in Taiwan.
  • Gain insights into key organizations governing Taiwanese employee benefits, and their impact on companies.


1 EXECUTIVE SUMMARY
2 INTRODUCTION
2.1 What is this Report About?
2.2 Definitions
3 COUNTRY STATISTICS
4 OVERVIEW OF EMPLOYEE BENEFITS IN TAIWAN
5 REGULATIONS
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of Retirement Plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Benefits
6.1.6 Payment Options
6.1.7 Typical Employer Practice
6.1.8 Employee and employer contributions
6.1.9 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment Options
6.2.5 Typical Employer Practice
6.2.6 Employee and employer contributions
6.2.7 Taxation
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Employee and employer contributions
6.3.6 Taxation
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Typical Employer Practice
6.4.5 Employee and employer contributions
6.4.6 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Typical Employer Practice
6.5.5 Employee and employer contributions
6.6 Workmen’s Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment Options
6.6.5 Employee and employer contributions
6.6.6 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment Options
6.7.5 Employee and employer contributions
6.7.6 Taxation
6.8 Leaves and Holidays
6.8.1 Annual Leave
6.8.2 Public Holidays
6.8.3 National Holidays
6.8.4 Season Holidays
6.8.5 Observance Holidays
6.9 Unemployment Benefits
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment Options
6.9.5 Employee and employer contributions
6.9.6 Taxation
7 PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Death Benefits
7.3 Sickness Benefits
7.4 Medical and Health Benefits
7.5 Other Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalData’s Services
8.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Taiwan - Country Statistics
Table 3: Taiwan Death in Service - Lump Sum Benefit
Table 4: Taiwan Leave: National Holidays
Table 5: Taiwan Leave: Observance
Table 6: Taiwan Private Benefits: Basic Medical Plan
List of Figures
Figure 1: Taiwan - Main Institutions of Social Security System

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