8 out of 10 Taiwanese workers do not have retirement plans

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More than half are relying on labour insurance and pension funds.

More than eight out of 10 or 86.2% of Taiwanese workers do not have retirement plans, a survey by Taiwan’s Ministry of Labor revealed.

Only 13.8% have retirement plans and expect to retire by the age of 61 on average.

Meanwhile, two-thirds or 66.9% said labour insurance and pension funds are the main sources of their planned retirement income, followed by personal savings at 66.2%.

The survey was conducted from June 2021 to May 2022 and focused on domestic workers’ living and employment conditions.