Central News Agency (CNA Taipei, July 2, 2024) The Executive Yuan today approved the "Voluntary Pension Contribution and Early Settlement Plan for "Old System" Labor Pension," greenlighting "old system" workers' ability to voluntarily contribute to their pensions. Furthermore, "old system" workers who meet retirement requirements will be able to opt for early settlement of their old system pension funds during the contract period, subject to mutual agreement between labor and management. The policy is slated for implementation as early as the end of July. The Executive Yuan today passed the "Voluntary Pension Contribution and Early Settlement Plan for "Old System" Labor Pension" proposed by the Ministry of Labor. The Ministry of Labor reported that the new labor pension fund has achieved an annualized return rate of 7.64% from its establishment in July 2005 to the end of 2025, with annualized returns exceeding 15% in the previous two years. During a press conference after the meeting, Minister of Labor Hung Tzu-hsun explained that many labor groups have recently expressed a desire for "old system" workers to have the opportunity to voluntarily contribute to their pensions, participate in the investment and income distribution of the new system's labor pension fund, and enhance their retirement security. Therefore, this adjustment plan was proposed. Hung explained that the plan has two parts. First, "old system" workers will be allowed to participate in the voluntary contribution portion of the new system. According to Ministry of Labor data, after the new plan is launched, "old system" workers can inform their employers of their intention to voluntarily contribute to their pensions. Employers will then apply to the Bureau of Labor Insurance for voluntary contributions on behalf of these workers to establish individual pension accounts. Once the Bureau of Labor Insurance issues a payment notice, employers will deduct the voluntary contribution amount from the workers