Online Calculator of Estimated Labor Pension Reserve Funds for the Following Year

     Paragraph 2, Article 56 of the Labor Standards Act stipulates: "Before the end of each year, employers shall assess the balance in the designated labor pension reserve funds account of the preceding Paragraph. If the amount is inadequate to pay pensions calculated according to the preceding Article for workers retiring in the same year according to Article 53 or Subparagraph 1 of Paragraph 1 of Article 54, the employer is required to make up the difference in one appropriation before the end of March in the following year. In order to facilitate the business entity to estimate the required pension according to the above-mentioned previsions so as to raise the pension reserve funds, this calculation system is hereby set up for this purpose.
*Select the industry type of the unit
(the date of the application to the Labor Standards Act):   

 
The standards of pension payments on the seniority before the application of the Labor Standards Act:      
*Select the year for estimation:    
 
 
 
*Date of Birth *First date of employment
Date of participation
in the new system
( no need to fill in if not applicable )
*Average monthly wage
       
Serial
number
Date
of birth
First date
of employment
Date of
participation
in the new system
Average
monthly wage
Estimated
pension
Message bar Instructions
               
               
               
               
               
     
Meeting the retirement requirements under Subparagraph 1,
Article 53 of the Labor Standards Act:
Meeting the retirement requirements under Subparagraph 2,
Article 53 of the Labor Standards Act:
Meeting the retirement requirements under Subparagraph 3,
Article 53 of the Labor Standards Act:
Meeting the retirement requirements under Subparagraph 1,
paragraph 1, Article 54 of the Labor Standards Act:
Total:
Remarks:
1. The target of this calculator is the laborer with the seniority under the old labor pension system. Before conducting the calculation, please first check the number of people under the old labor pension system as well as the number of people who select the new labor pension system but retain the seniority under the old system. The estimated pension is calculated based on the seniority for retirement after applying to the Labor Standards Act, with the maximum bases of 45 in total. The estimation results are for reference only. If you have any questions about the relevant laws and regulations, please contact the labor administration authority at various locations.
2. Methods to for usage: "batch upload" and "enter one by one":
  (1) Batch upload: Please download the sample format first, and fill in the data of the laborer with the seniority under the old labor pension system in the fields following the sample format. After completion, upload the file for the calculation.
  (2) Enter one by one: Following the instructions for each field in Remark 3, enter the relevant information of the laborer with the seniority under the old labor pension system.
3. Field descriptions:
  (1) Select the industry type of the unit (the date of the application to the Labor Standards Act):if in doubt, please refer to the link (previous announcements of expanded application), or call our toll-free number 0800-085-151 for consultation. 【Required field】
  (2) The standards of pension payments on the seniority before the application of the Labor Standards Act:(Scenario A) better than, in accordance with, or following the then regulatory standards and act accordingly; or (Scenario B) not better than, in accordance with, or following the then regulatory standards and act accordingly[Required field, default set to be Scenario A]
  (3) Select the year for estimation:For example, if you pay the difference in March 2016, when conducting the calculation in the year 2015, please select the period for estimation until December 31 of the following year; likewise when conducting the calculation at the beginning of the year 2016, please select the period for estimation until December 31 of the current year.【Required field】
  (4) Date of birth:Please enter the 8-digit code for the year, month, and day in the calendar. For example, for May 23, 1977, please enter 19770523.【Required field】
  (5) First date of employment:Please enter the 8-digit code for the year, month, and day in the calendar. For example, for May 23, 1977, please enter 19770523.。【Required field】
  (6) Select the date of participation in the new labor pension system:If the laborer has selected to participate in the new labor pension system, please enter the date of participation in the new labor pension system. For example, for July 1,2005, please enter 20050701.
  (7) Average monthly salary: is the total wages of the six months before the laborer’s retirement, to be divided directly by six. In addition, according to the definition under Article 2 of the Labor Standards Act, "wages" refer to the remuneration which a worker receives for his/her services rendered, including wages, salaries and bonuses, allowances and any other regular payments regardless of the name which may be computed on an hourly, daily, monthly and piecework basis, whether payable in cash or in kind. In your calculation, please enter your average monthly wage at the time of calculation for the estimation. 【Required field】
4. The retirement requirements stipulated under the Labor Standards Act are as follows:
  Subparagraph 1 of Article 53: those who have worked for 15 or more years and have reached the age of 55.
Subparagraph 2 of Article 53: those who have worked for 25 or more years.
Subparagraph 3 of Article 53: those who have worked for 10 or more years and have reached the age of 60.
Subparagraph 1, Paragraph 1 of Article 54: those who have reached the age of 65.
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