The Ministry of Labor reminds: If you are over 65 years old and stay in the workplace, don’t forget to renew your labor insurance and enjoy up to 20% deferred annuity.

The Ministry of Labor reminds you not to forget to continue to take out labor insurance if you postpone your retirement and continue to stay in the workplace (provided by the Ministry of Labor)

[Reporter Li Jinghui/Report from Taipei] Many workers want to retire early, but there are also workers who "do not want to retire" after reaching the age of 65. The Ministry of Labor reminds that workers who are still working after the age of 65 can continue to participate in labor insurance according to the "Labor Insurance Ordinance". They will continue to enjoy the protection of labor insurance while their careers continue, and can receive deferred annuity up to 20%. According to statistics from the Ministry of Labor, as of the end of July, there were more than 60,000 workers over the age of 65 who were still covered by labor insurance.

Taiwan has entered a super-aged society. In order to promote the employment of middle-aged and elderly workers, the Ministry of Labor has stipulated that workers over 65 years old and continuing to work can continue to participate in labor insurance. After renewing the insurance, you can not only continue to accumulate labor insurance years, but also receive various benefits.

Lin Huanbai, a special committee member of the Labor Insurance Department of the Ministry of Labor, pointed out that when resigning from the job and withdrawing from the insurance and claiming old-age benefits, all the years of labor insurance can be calculated together. Therefore, the longer the working experience, the higher the amount will be when calculating old-age benefits in the future. In addition, the labor insurance old-age benefit system has a "deferred annuity" mechanism. After the employee reaches the legal claiming age, if he chooses to continue working and postpones claiming, the annuity amount will increase proportionally for each year of deferment, up to a maximum of 20%.

However, it must be noted that if qualified workers have applied for old-age benefits, these workers who have received labor insurance and old-age benefits before re-employing will not be able to re-join labor insurance. However, the insured units are required by law to insure these elderly workers with "labor occupational accident insurance" (occupational accident insurance) to ensure workplace safety.

According to statistics from the Ministry of Labor, the number of elderly workers over 65 years old who are still participating in labor insurance has reached 60,830 as of July 2015. As for the workers over 65 years old who have received labor insurance old-age benefits but have returned to the workplace, and therefore can only participate in disaster insurance, the number is 636,045.

The Ministry of Labor reminds workers that during the period of continuous labor insurance coverage, workers can enjoy various insurance benefits and benefits provided by labor insurance such as injury and illness benefits and disability benefits. During the period of continuous labor insurance coverage, workers can continue to accumulate seniority. There is no upper limit on the accumulated years of annuity. The longer they work, the higher the amount of old-age annuity benefits they can receive every month in the future. Even if you have received labor insurance, public insurance, etc. and returned to the workplace, you must remember to take out labor occupational disaster insurance to protect your labor rights.