Personal pension accounts get annual allocation: Taiwan labour funds earn NT$2.4tn in first nine months

Monthly income was NT$366.7 billion in August and NT$117.8 billion in September. For the same fund, one month apart, that is a gap of nearly NT$250 billion. The figures are a reminder that the more than NT$2.4 trillion that Taiwan's labour funds earned in the first nine months is only a snapshot as of the end of September.

The Bureau of Labor Funds under the Ministry of Labor (the Bureau) announced on 2 November 2026 that, as of the end of September 2026, the labour funds had total assets of NT$9.2109 trillion and cumulative income of NT$2.4405 trillion, a return of 30.73%. The Central News Agency reported the news in Chinese and English the same day; the English report put the gain at about US$73.66 billion.

Six labour funds, with returns from 1.51% to 44.16%

The NT$2.4 trillion is a combined figure, and the funds differ widely when broken out. Size and return as of the end of September 2026:

• New-system labour pension fund: NT$6.0622 trillion, return 30.43%; September income NT$80.7 billion
• Old-system labour pension fund: NT$1.2117 trillion, return 44.16%
• Labour insurance fund: NT$1.6812 trillion, return 27.14%
• Employment insurance fund: NT$190.2 billion, return 2.73%
• Occupational accident insurance fund: NT$38.7 billion, return 1.51%
• Wage arrears payment fund: NT$26.9 billion, return 17.33%

The Bureau also manages, under commission, the National Pension Insurance Fund (NT$914.4 billion, return 29.57%) and the Farmers' Retirement Fund (NT$32.5 billion, return 40.72%).

September slowed: energy, rate rises and a concentrated Taiwan market

The Central News Agency said September did not lift monthly income but was still positive. The Bureau's account of September markets: Middle East tensions pushed up energy prices and inflation concerns; the US Federal Reserve resumed rate rises, strengthening the dollar and lifting US Treasury yields; global equities were mixed, with AI-related shares providing support; Taiwan shares swung more widely at high levels, with gains concentrated in a few heavyweight electronics stocks.

Looking ahead, the Bureau said global markets face multiple challenges, including geopolitical conflict, inflation pressure and monetary tightening, and that it will keep a steady pace and focus on long-term returns.

The NT$2.4 trillion on paper is not money in hand

Neither Central News Agency report says how much of the gain has been realised and how much is still unrealised. In a 2009 statement, the Ministry of Labor said the funds are valued under an accounting standard (SFAS 34), which can produce unrealised losses on paper that may later recover.

In other words, valued figures move with the market. The NT$2.4405 trillion at the end of September is only the figure at that date, and the gap between August and September monthly income is already one example.

How returns reach your new-system pension account

The new labour pension system uses individual accounts. According to a 2019 Ministry of Labor press release, the Bureau of Labor Insurance allocates the previous year's fund gains or losses to each account every March, based on each account's accumulated balance and the previous year's rate of return.

So the 30.43% return for the first nine months is only a snapshot; under the Ministry's description above, the allocation is based on the previous year's return. Note that this practice comes from a 2019 statement, and this article could not verify the 2026 allocation date or the allocation rate for 2025.

Guaranteed return: floored at the two-year deposit rate

The Ministry of Labor says that under Article 23 of the Labor Pension Act and Article 32 of its Enforcement Rules, if investment income during the contribution period is lower than income calculated at the average two-year time deposit rate of local banks over the same period, it must be paid out at the guaranteed return. Article 3 of the regulations on pension fund management, investment and profit-and-loss allocation states that the national treasury makes up the shortfall.

The calculation method is the key. The Ministry's 2009 statement says the guarantee compares cumulative income over the years with cumulative income at the two-year deposit rate, rather than topping up year by year. A weak year does not by itself mean a top-up that year; the comparison is of the cumulative result over the whole contribution period.

Labour insurance fund: a return figure, but no financial projection

The labour insurance fund has NT$1.6812 trillion in assets and a first-nine-month return of 27.14%. Neither the Central News Agency reports nor the Ministry of Labor material consulted for this article says what the gain means for benefit reserves or government subsidies, so this article makes no projection.

If you want to save more yourself

If you are considering voluntary personal contributions, this magazine has covered the topic in another article, so it is not repeated here.

Look at the full year, not a single month

Monthly income can differ by almost NT$250 billion, and the Bureau itself stresses long-term returns. For an individual account, what matters is the return used in the annual allocation and whether long-term accumulation exceeds the two-year deposit guarantee line. This is general information, based on data as of November 2026; seek a licensed professional for personal retirement planning.

Prices and details correct as of November 2026

This article is general information, not investment, tax or insurance advice. Everyone’s circumstances differ; consult a licensed professional before making decisions.