TAIPEI (TVBS News) — The Executive Yuan Council approved the 2024 annual budget of around NT＄2.88 trillion on Thursday (Aug. 24), reflecting an increase of NT＄192.7 billion from the previous year, with the labor insurance subsidies being increased from NT＄100 billion to NT＄120 billion.
Chu Tzer-ming, minister of the Directorate-General of Budget, Accounting, and Statistics, highlighted that the decision to increase labor insurance subsidies is not connected to any deficits in the labor pension fund but rather in consideration of the long-term debt of the insurance.
The Executive Yuan has allocated a total of NT＄147 billion for the labor insurance fund since 2020, including the post-pandemic special budget of NT＄30 billion.
Chu added that with the additional NT＄120 billion approved earlier that day, the government has allocated a budget of NT＄267 billion for the labor insurance fund so far.
Deputy Minister of Labor Chen Ming-ren noted that considering changes in population structure, it is essential to reform the labor insurance finances.
He emphasized that the labor insurance fund balance had risen to NT$860 billion in June, making next year's finances relatively robust, and the ministry will continue to collect opinions on financial restructuring for stable economic reform in the future.