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anyone paying into workers insurance (lao bao)?

 
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the dude



Joined: 29 May 2003
Posts: 3
Location: hsinchu

PostPosted: Fri Jul 11, 2003 4:01 am    Post subject: anyone paying into workers insurance (lao bao)? Reply with quote

my boss just told me i must pay NT 2100/month into workers insurance (lao bao). does anyone else know anything about this type of insurance and if it is applicable to foreigners. please assist...
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chienkun



Joined: 18 Mar 2003
Posts: 16
Location: Southern California

PostPosted: Sat Jul 12, 2003 9:19 am    Post subject: lao bao Reply with quote

Yes, unfortunately you do have to pay it - that is, if you are also getting health insurance - they cannot be separated (pay one and not the other). And no, this does not mean you get to collect when you retire. I think it will cover you if you can't work due to an accident or something (I can't quite remember). But I must comment that the amount you're paying seems very very high - doesn't your employer cover half (jen bao/lao bao)?
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taiwanho



Joined: 26 Jun 2003
Posts: 11
Location: Taiwan

PostPosted: Mon Jul 14, 2003 2:47 am    Post subject: Reply with quote

Yes I have to pay lao bao too. I think it is more for office positions and it does cover things like accidents at the workplace. You can even collect a pension if you work for something like 20-25 years.

That figure does sound really high though. Are you earning in excess of NT$150K a month? If not I would question that figure.
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the dude



Joined: 29 May 2003
Posts: 3
Location: hsinchu

PostPosted: Mon Jul 14, 2003 4:48 am    Post subject: more info... Reply with quote

in fact, i have set up an agreement to pay all of my own health care and now this accident insurance as well. the thing is, i am only earning NT 24,000 from the job so NT 2100/month seems extremely high when taxes are roughly 6-10%. thanks for the reply info. though...
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taiwanho



Joined: 26 Jun 2003
Posts: 11
Location: Taiwan

PostPosted: Wed Jul 16, 2003 12:54 am    Post subject: Reply with quote

NT$24,000? Yikes. Well as far as I know you, you should be paying NT$328 for jian bao and NT$344 lao bao for that income a month.

For health insurance, you only need pay a certain percentage each month (20%) with your employer and the government sharing the rest. I guess if you have agreed to pay the employers part, it could come out to this much.

As for the tax, well even if you pay it up front you will get it back as a refund. Why such a low paying job though?
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