The labor ministry announced on Thursday that it has plans to adjust the upper limit of workers’ monthly insurance salary to NT$45,800. That’s around US$1,400. Monthly insurance salary refers to the part of a given person’s salary on which the labor insurance premium is calculated.
The current upper limit of NT$43,900 has not been adjusted since 2006. Labor Minister Chen Hsiung-wen said on Thursday that amendment to the Labor Insurance Act to raise the limit could take two to three months. The ministry hopes that the new adjustment could go into effect before Labor Day in May next year. It is estimated that more than 2.13 million Taiwanese people will benefit from the increase in the highest grade of the insurance salary.
The labor ministry says that once the adjustment goes into effect, the labor premium for a worker who earns $45,800 or above will go up by NT$38 per month. The labor premium for the worker’s employer will increase by NT$137 per month.