News
Subsidies needed to stabilise labour insurance fund
Deputy Labor Minister Lee Chun-yi is warning that continued government subsidies are currently the "only way" to stabilize the Labor Insurance Fund.
According to Lee, subsidies are the only way to ensure the fund's sustainability due to a lack of consensus over how to proceed with the next stage of the government's pension reform.
Speaking at a legislative hearing, Lee denied accusations by KMT lawmakers that his ministry delayed the proposed reform, saying the lack of consensus on the issue is due to employers, workers and experts disagreeing over how to move forward.
Lee told lawmakers he believes the issue must be approached with caution as it involves 10 million workers and 600,000 employers, but so far, "the parties involved are still a long way from a consensus."
The Cabinet has injected NT$147 billion to stabilize the fund since 2020 and has earmarked NT$100 billion in subsidies for the fund for next year.
