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- Optimize industrial talent competencies – create new workforce values
Policies & Regulations
- The Ministry of Labor amended the "Regulations for O setting of Capital and Interest of Relief Loans for those with Labor Insurance" to protect workers' basic livelihood after retirement
The 2002 Asian nancial crisis caused a global economic downturn that led to raising unemployment rates and left many workers in nancial dif culties. In response to such impacts, the Executive Yuan and Legislative Yuan amended and workers. The Bureau of Labor Insurance (hereinafter referred to as BLI) has since started to organize bail-out loans for Labor Insurance insurants. With the exception to suspending the loan in 2005, each year, application announcements are posted before Chinese New Year. As of date, the loan was organized 12 times, with more than 1.37 million receiving a total amount of over NT$143.1 billion, playing the function of assisting workers to tide over temporarily.
- Amendment to the "Standards of Necessary Nighttime Workplace Health and Safety Facilities for Female Workers Employed by Business Entities " promulgated
- Amendments to the Directions for Service Quality Evaluation on Private Employment Service Institutions Engaging in Overseas Manpower Agency
Though the Ministry of Labor (hereinafter referred to as MOL) liberalized the introduction of foreign workers, due to restricted manpower, time and the unfamiliarity with the process and laws for introducing foreign labor, the vast majority of employers rely on manpower agencies to hire foreign workers. Also, after the foreign workers arrived in Taiwan, given the language and cultural barriers, their work and life are dependent on the manpower agency's assistance and arrangements, therefore the quality of these agencies greatly in uences the rights of domestic employers and foreign labor management.
- Prioritizing creditor's rights under labor contract to protect workers' severance pay and retirement benefits
In recent years, many cases of factory shut down and ceasing operation have resulted in labor disputes and protests over arrear labor pensions and severance pays. Before the amendment, the "Labor Standards Act" stipulated that among the claims owed to workers by employers, only 6 months of salary had priority over ordinary credits and may apply for compensation, but this cannot solve the issues of workers' pension and severance pay arrears. On February 4, 2015, the amendment to the "Labor Standards Act" was announced to prioritize creditor's rights under labor contract and raise the contribution rate of the Arrear Wage Payment Fund to implement labor pensions, safeguard the rights for severance pay and improve life and economic security for elderly workers, as well as to reduce labor disputes. It is estimated approximately 6.7 million workers may benefit from the amendment; safeguard highlights include:
- Current situation and future prospects in the global strategic index investments undertaken by the Bureau of Labor Funds
Foreign investments of the Labor Funds are of two approaches -- one being operated on their own and one through mandated investment. Mandated investments are managed by selected international asset managers with considerable overseas investment experience and performance. Before choosing the future investments, the Labor Funds would use existing investments as foundation to review the Funds' overall foreign investment strategy, and build upon the positions that needed further strengthening. Therefore, it is quite important to choose the right investment benchmark index.
- Source:Department of General Planning
- Publication Date:2015-02-28
- Count Views:32029
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