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Taiwan

Employee Benefits Report

Product Employee Benefits Reports Rev Taiwan

Key Highlights

Get access to Axco’s online product for a comprehensive understanding of employee benefits in Taiwan

  • Details of the state and compulsory benefits
  • Insight into typical market practice
  • Examines changes to the costs and benefits of social security and mandatory benefits requirements
  • Demographic and economic information including projections
  • Mandatory pension provision, normal and parental leave and other state benefits
  • Details of applicable taxation
  • Extensive geopolitical and operational risk analysis

Report Overview

Comprehensive employee benefits information for Taiwan. Details mandatory benefits and plans as well as typical market practice. Includes data on pensions and retirement benefits, employee leave and termination indemnities.

Axco's employee benefits report for Taiwan provides an expert analysis of the local benefits landscape, detailing state and compulsory benefits and local market practice across necessary to know when employing staff in Taiwan or thinking of entering the market.

The comprehensive report is produced by a dedicated research team with years of experience in international employee benefits. The report outlines all key benefits in Taiwan, including insight into changes to the costs and benefits of social security and mandatory benefits requirements, as well as typical employer practice. Information and necessary details on new legislative mandates are regularly updated to ensure you remain compliant.

Suitable for international employee benefits consultants, brokers or corporates looking at establishing business in Taiwan, the report outlines the employment benefits requirements for your employees in Taiwan. Coverage extends to retirement benefits, death in service benefits, long-term disability, medical benefits, workers compensation, personal accident insurance, termination indemnities, maternity benefits & maternity/paternity benefits and other employee and state benefits.

Axco analysts also report on the Taiwanese economy, the local political situation, and climate, operational, and security risks.

Taiwan Report Extract

Below is a very brief extract of information from the Taiwan Employee Benefits Report; more updated information may be available in the latest published report.

Retirement

Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided by employers with at least five employees through the Labor Insurance programme, administered by the Bureau of Labor Insurance.

Employers within the following industries are also required to provide retirement benefits as prescribed under the Labor Pension Act (LP act) or Labor Standards Act (LS act):

  • agriculture, forestry, fishery and animal husbandry
  • mining and quarrying
  • manufacturing
  • construction
  • water, electricity and gas supply
  • transportation, warehousing and telecommunications
  • mass communication
  • other industries as designated by the Central Competent Authority.

LP act benefits are administered by the Bureau of Labor Insurance; qualifying employers with at least 200 employees may alternatively provide benefits through a qualifying group annuity insurance plan (although there are currently no group annuity plans).

LS act benefits are administered by the employer.

Typical Employer Practice

Employers do not typically provide supplementary retirement benefits; however, employers may accelerate vesting under the LS act (such as 25% of entitlement vested after 10 years of service with a sliding scale up to 20 years of service, particularly for multinational employers); see State & Compulsory Benefits for detail.

 

The report contains more information on retirement benefits in Poland including Benefit Provider; Type of Plan; Eligibility; Retirement Age; Pensionable Salary; Vesting and more

Termination Indemnities

Benefit provider

State & Compulsory Benefits

Employers within the following industries are required to provide termination indemnities as prescribed under the Labor Pension Act (LP act) or Labor Standards Act (LS act):

  • agriculture, forestry, fishery and animal husbandry
  • mining and quarrying
  • manufacturing
  • construction
  • water, electricity and gas supply
  • transportation, warehousing and telecommunications
  • mass communication
  • other industries as designated by the Central Competent Authority.

Employer contributions are required in respect of termination indemnities (see Retirement section for further detail).

Typical Employer Practice

Employers do not typically provide supplementary termination indemnities.

More information on Eligibility; When Benefit is Paid; Benefit details and the associated Taxation applicable to termination indemnities is available in the report

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£550

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