Q: Employer Section > (X) When international and overseas Chinese graduates meet the retirement requirements, how to calculate their service length (seniority) and pension?

Answer:

1.The pension system (“Old System”) under the Labor Standards Act shall apply to foreign workers who are not the compulsory insured under the Labor Pension Act (such as foreign spouses, those who have permanent residency) provided that they are eligible for the pension system under the Labor Standards Act. 2. In accordance with Article 56 of the Labor Standards Act, employers shall contribute between 2% and 15% of the total monthly wages of foreign workers to the labor pension reserve funds and deposit said amount in a designated account every month. Please directly contact the local labor administration authorities (department (bureau) of labor or department (bureau) of social affairs of county and city governments) for the application procedures and required documents for opening a designated account for the labor pension reserve fund.