Taiwan's Voluntary Pension Contributions for Old-System-Only Workers Take Effect on July 17, 2026 -- Amended Enforcement Rules Cover About 115,000 Workers; the Same Day, an Appeals Court Convicts 10 in the Labor Funds Stock-Manipulation Case

ANK-Doc ID: ANK-2026-07-18-006 Version: v1.0.0 Publication date: 2026-07-18 Author: 竹之內凜 (Global Editor-in-Chief) Category: Pension systems / Labor pension / Public pension fund governance / Taiwan-Japan comparison Extended from: This card is an extension of ANK-2026-07-03-004 (not an independent new topic) -- target card in three languages: 繁體中文 / 日本語 / English Covered articles: 3 new sources = CNA#1510509 (amended Enforcement Rules promulgated, effective July 17; 2026-07-15), CNA#1587714 (Q&A on voluntary contributions for old-system-only workers; 2026-07-18), CNA#1568412 (second-instance verdict in the labor funds stock-manipulation case; 2026-07-17); 6 base sources carried from the target card (those grounding carried F-Units in this card) = PRTIMES#1295455, CNA#1281038, #1283385, #1296678, #1066646, #1177166 (published 2026-06-17 to 07-02; see the target card). The target card used 3 further sources (CNA#1285952, PRTIMES#1086906, PRTIMES#640844): this card's body cites no fact from them and they ground no F-Unit here, so under the discipline that "sources lists only what this card's F-Units actually cite," they are excluded from this card's sources and disclosed transparently at the end of the Sources section (see the target card). Selection method: The daily extension selector (ANKRUN-20260718145335) designated target card ANK-2026-07-03-004 (extension lane). The writing shift searched the full ainews library along the target card's two axes (Taiwan's institution-side pooled investment; the individual-institution interface), adopting 3 new sources and passing on 5 with stated reasons: #1568015 (an earlier piece on the same verdict, counted as duplicative of #1568412), #1539231 (a second-hand storm.mg rewrite of the same Enforcement Rules; the first-hand CNA piece suffices), #1568287 (Rakuten NISA 8 million accounts = the main source of the 2026-07-17 extension shift; avoiding cross-card duplication), #1543945 (records only the fact that GPIF published its FY2025 business overview, with no figures), #1568332 (ESG index re-selection, off-axis). Transparency: this card lists 9 sources in total = within the cap (6 carried from the target card + 3 new); 3 further target-card sources ground no F-Unit here and are excluded from sources (see Covered articles and the end of the Sources section); today's other shift drafts (ANK-2026-07-18-001 to 005) were unpublished as of this card's filing -- per the "link only published cards" rule, no links are set, only this statement. For the official-anchor framing, see the Framing section; no Wikidata Q identifiers are attached (no registry verification was performed this shift; better absent than false). Card publication date 2026-07-18 >= latest source date 2026-07-18; apart from ROC-calendar and numeric-format conversions (noted), this card generates no new numbers and computes no ratios.

TL;DR

The target card (ANK-2026-07-03-004, published in early July 2026) froze the institution side of Taiwan's retirement-money "market contact" at: the Executive Yuan approved the voluntary-contribution and early-settlement scheme for old-system-only workers on July 2, 2026, aiming for implementation before the end of July 2026. [F-011] Two weeks later, that door formally opened: the Ministry of Labor amended and promulgated the Enforcement Rules of the Labor Pension Act on July 15, 2026, effective July 17, 2026 -- an effective date within the original "before end-July 2026" target. [F-001] Key points of the amended rules: old-system-only workers may contribute voluntarily up to 6% of monthly wages; after contributing, those meeting the Labor Standards Act's retirement criteria may, during the employment contract and by labor-management agreement, settle their old-system-seniority pension early, with the settled amount transferred in full into an individual pension account at the Bureau of Labor Insurance; for seniority accrued by continuing to work after settlement, the employer must still pay a pension when the contract lawfully ends. [F-002] The contact point's "quantity" and "price": eligibility covers workers employed before July 1, 2005 (converted from ROC year 94, as in the original) who kept the old system -- currently about 115,000 people; voluntary contributions are excluded from taxable salary income for the contribution year, and the account carries a guaranteed minimum return of at least the two-year fixed-deposit interest rate. [F-005][F-006] The MOL's illustrative calculation (a manufacturing worker with 30 years' seniority / 45 base units / age 55 / monthly salary NT$50,000): without settlement, working 10 more years to 65 yields just over NT$2.55 million (under the MOL's illustrative assumption of 1.44% annualized wage growth); contributing 6% from age 55 (about NT$3,036 a month) and transferring the settled NT$2.25 million into a new-system account yields, under the MOL's illustrative 5%-return assumption, just over NT$4.16 million at 65. [F-007] The same day's other face: on July 17, 2026, the Taiwan High Court delivered its second-instance verdict in the labor funds stock-manipulation case -- Yu Nai-wen (游廼文), former head of the domestic investment division at the Bureau of Labor Funds, was re-sentenced to 8 years and 4 months under the Anti-Corruption Act's profiteering offense with 5 years' deprivation of civil rights; 10 defendants were convicted (7 with suspended sentences), 2 acquitted, and the ruling is appealable; per the High Court's press materials, the conduct (2019-2020, converted from ROC years) earned the Pau Jar Group (寶佳集團) NT$508,781,945 and caused the Bureau of Labor Funds losses of over NT$13.63 million and over NT$6.29 million. [F-009][F-010] The institution-side "market contact," in this site's records, now has three components: the entrance (voluntary contribution and settlement transfer), the return (fund investment), and accountability (penalties and the judiciary) -- governance is part of the contact structure, not a footnote. Framing (see the Framing section): the Taiwan institutional and court figures newly added in this card are as relayed by CNA reports; the carried-forward Japan survey figures are from a PR TIMES release (PRTIMES#1295455), and the Lithuania and penalty figures are identified in their respective annotations — none has been independently verified by this site (see the Framing section); the calculation rests on stated assumptions, not guaranteed returns; the verdict is appealable and not final.

Body

Overview: what is extended, and how

This card extends ANK-2026-07-03-004. The target card's thesis is the structural comparison of Taiwan-Japan retirement-money "market contact" -- Taiwan places the contact point on the institution side (pooled investment), while in Japan it falls to the individual (once the lump sum lands in personal hands, the individual decides; the survey shows the decision is driven by investment experience). This card performs four explicitly typed actions: Layer 1 REVISE moves Taiwan's institution side from "approved" to "in effect" (rules effective July 17, 2026); Layer 2 ADD_EVIDENCE adds the contact point's "quantity" (about 115,000 people) and "price" (tax treatment, guaranteed floor, the MOL's illustrative calculation); Layer 3 CHALLENGE adds the governance dark side of institution-side pooling (the second-instance verdict in the labor funds stock-manipulation case); Layer 4 CONNECT pins it all back onto the target card's Taiwan-Japan map. This shift has no new Japan-side material: all new layers fall on Taiwan's institutional axis and the individual-institution interface axis, with the Japan side resting on the target card's base (an honest scope statement; see the Framing section). The 7 base facts carried from the target card (F-011 to F-017) are explicitly marked "carried," serve only as the comparison base, and are not counted as new in this card published on 2026-07-18.

Layer 1 REVISE: from "approved" to "in effect" -- rules promulgated July 15, 2026, effective July 17

The state recorded by the target card's F-011 (carrying its F-009) was "policy direction approved, not yet implemented": the Executive Yuan passed the scheme on July 2, 2026, and Labor Minister Hung Sun-han (洪申翰) said the ministry aimed to implement it before the end of July 2026. This layer moves the state one notch: per a CNA report of July 15, 2026, the Ministry of Labor amended and promulgated the Enforcement Rules of the Labor Pension Act that day, effective from July 17, 2026, adding the options of voluntary pension contributions by old-system-only workers and early settlement by labor-management agreement; the effective date of July 17, 2026 falls within the original "before end-July 2026" target (CNA #1510509). [F-001]

The amendment's key points per the MOL press release (as relayed by CNA): first, old-system-only workers may voluntarily contribute up to 6% of monthly wages. Second, after contributing voluntarily, workers who meet the retirement criteria of the Labor Standards Act may, during the employment contract and by mutual labor-management agreement, settle their Labor Standards Act seniority pension early; to protect workers' post-retirement livelihood, the settled pension must be transferred in full into the worker's individual pension account at the Bureau of Labor Insurance. Third, for seniority accrued by continuing to work after an agreed settlement, the employer must still calculate and pay a pension when the labor contract lawfully ends, and the two sides may settle the additional seniority year by year by agreement (CNA #1510509). [F-002] On the employer's obligations: the scheme does not change old-system-only workers' status, and employers need not make new-system pension contributions for them; but where old-system seniority remains unsettled, employers must continue to set aside retirement reserve funds under the old-system rules (CNA #1510509). [F-003]

The MOL's example: a worker aged 55 with 25 years' seniority and an average wage of NT$50,000 on the agreed settlement date would settle a pension of NT$2 million, to be transferred in full into the individual account at the Bureau of Labor Insurance; if the worker then works 5 more years and actually retires at 60 with an average wage of NT$60,000, the employer must still pay NT$300,000 in pension (CNA #1510509). [F-004]

Layer 2 ADD_EVIDENCE: the contact point's "quantity" and "price" -- about 115,000 people, tax and floor, the MOL's calculation

Quantity: per CNA's Q&A compilation of July 18, 2026, eligibility covers workers employed before July 1, 2005 (converted from ROC year 94, as in the original) who chose to remain under the old labor pension system; they currently number about 115,000 (CNA #1587714). [F-005]

Price (the incentive structure): while employed, an old-system-only worker may declare voluntary contributions to the employer, apply to open an individual pension account, and join the new-system labor pension fund's earnings distribution; amounts contributed within 6% of monthly wages are excluded from taxable salary income for the contribution year; and the pension in the account carries a guaranteed minimum return of at least the two-year fixed-deposit interest rate (CNA #1587714). [F-006]

How large is the gap? The MOL's illustrative calculation (a single example, as carried in CNA's 2026-07-18 Q&A compilation; assumptions detailed in the Framing section): for a manufacturing worker with 30 years' seniority (45 base units), aged 55, on a monthly salary of NT$50,000, the old-system pension is about NT$2.25 million; without settlement, working 10 more years to 65 under the MOL's illustrative assumption that wages grow at the 1.44% average annualized growth rate of regular earnings yields just over NT$2.55 million; if the worker contributes 6% voluntarily from age 55 (about NT$3,036 a month) and, by labor-management agreement, transfers the settled NT$2.25 million old-system pension into a new-system account, then under the MOL's illustrative assumption of a 5% investment return the account accumulates just over NT$4.16 million by 65 -- exceeding the roughly NT$2.55 million of the no-settlement scenario (same illustrative worker, compared at the same retirement point of age 65) (CNA #1587714). [F-007]

Accompanying boundaries: settlement does not terminate the labor contract, and annual leave seniority still counts from the hire date under the Labor Standards Act; the scheme does not compel employers to contribute 6% for old-system-only workers after settlement; if the settled amount is below 45 base units, the employer must keep setting aside old-system reserve funds as the worker accrues further seniority, and pay the base-unit shortfall from settlement to retirement when the worker retires (CNA #1587714). [F-008]

Layer 3 CHALLENGE: the governance dark side of the institution side -- 10 convicted on appeal in the 2026-07-17 second-instance verdict in the labor funds stock-manipulation case

One of the target card's main axes is that Taiwan places the market contact point in "institution-side pooled investment"; this layer hedges honestly: pooling does not mean zero risk, and governance and accountability are equally part of the contact structure. On July 17, 2026 -- the same day the rules took effect -- the Taiwan High Court delivered its second-instance verdict in the labor funds stock-manipulation case: Yu Nai-wen (游廼文), a former Ministry of Labor division head (at the time of the conduct, head of the domestic investment division at the Bureau of Labor Funds and concurrently a member of the investment strategy panel), was re-sentenced under the Anti-Corruption Act's offense of profiteering in matters under one's charge to 8 years and 4 months with 5 years' deprivation of civil rights; Pau Jar Group CEO Tang Chu-lieh (唐楚烈) received 8 years and investment head Chiu Yu-yuan (邱裕元) 7 years and 6 months as joint principals in the Securities and Exchange Act offense of buying securities high and selling low, each with 4 years' deprivation of civil rights; the remaining 7 defendants were sentenced to between 1 year 7 months and 2 years as joint principals in the breach-of-trust offense under the Securities Investment Trust and Consulting Act, all with suspended sentences; fund manager Hsieh Chih-ying (謝志英) and researcher Tang Ming-chen (湯明真) of 群益投信 remained acquitted; the entire ruling is appealable (CNA #1568412). [F-009]

The first-instance Taipei District Court had sentenced Yu Nai-wen to 9 years with 5 years' deprivation of civil rights under the Securities and Exchange Act's market-manipulation offense as the gravest charge; the second instance found the first-instance ruling erroneous in its findings on the scale of the crime, criminal proceeds, and confiscation amounts (including omitting the conduct of successive low-price sales of Far Eastern Department Stores shares, failing to calculate criminal proceeds, and misjudging the scale of Yu's crime as NT$100 million or more), and set it aside (CNA #1568412). [F-009]

Per the High Court's press materials (as relayed by CNA): between June 2019 and November 2020 (converted from ROC years 108-109, as in the original), Tang Chu-lieh and Chiu Yu-yuan used methods including buying high and selling low, matched trades, spreading rumors, spoofed orders, and absorbing offloaded shares to push up or prop up the share price of Far Eastern Department Stores (遠百), earning the Pau Jar Group NT$508,781,945; in August and September 2020 (ROC year 109, converted), Yu Nai-wen bought 486 lots (張, the Taiwan trading unit) of Far Eastern Department Stores shares through the Bureau of Labor Funds' in-house trading account and directed fund managers and researchers at the mandated managers 復華 and 統一 securities investment trusts to produce false investment assessment reports and buy 4,564 and 3,950 lots respectively; after all shares were sold and settled, the Bureau of Labor Funds suffered price-decline losses of over NT$13.63 million and over NT$6.29 million respectively (CNA #1568412). [F-010]

The time boundary must be pinned clearly: the conduct in this case dates to 2019-2020, a different period from the labor funds' January-May 2026 gains recorded by the target card (NT$2.1252 trillion, a 27.7% return) [F-012]; this card builds no causality and makes no insinuation. The sole purpose of introducing this case is to fold the governance and accountability face of "institution-side pooling" into the structural record of the market contact -- alongside the contribution-side penalties the target card already recorded (Nan Shan Life: 908 cumulative penalty cases and NT$90.8 million in fines as of end-May 2026) [F-017], both belong to the contact point's "accountability" component. The verdict is appealable and not final; this card records the sentencing facts and offers no legal commentary (see the Framing section).

Layer 4 CONNECT (this card published 2026-07-18): pinning it back on the map -- institution-side entrance, individual-side experience gap, one comparison chart

Pin the three new sources back onto the target card's map: Taiwan places the individual's retirement-money market contact on the institution side -- from July 17, 2026, old-system-only workers can contribute voluntarily, move their settled pension into a new-system account, and join the market through institutional pooling; what decides whether to walk through that door is labor-management agreement and personal choice, not personal investment skill — this is this card's editorial inference from the institutional structure (structural analysis), not survey evidence or an official determination. Contrast with the Japan side (carried from the target card): once the retirement lump sum lands in personal hands, only about 15% plan to invest it (the 6,000-person survey of "3-minute investment diagnosis" users, response data as of May 2026), the action is determined by investment experience (25.1% among the experienced versus 5.7% among the inexperienced, a gap of about 4.4x), and regardless of experience the top priority use is "bank deposits" [F-014][F-015] -- Taiwan's new option keeps the "market entry" motion on the institution side, structurally bypassing the individual-side experience threshold that the Japanese survey reveals; the direction each side moves within its own structure carries forward the target card's comparison frame — this is this card's editorial inference from the institutional structure (structural analysis), not survey evidence or an official determination. This is structural comparison, not a judgment of superiority (see the Framing section). As a behavioral reference for money leaving institutional management (carried from the target card): after Lithuania opened exits from its second pension pillar in 2026, central bank data from April 2026 showed about 72% of withdrawn funds still sitting in residents' bank accounts. [F-016]

Published-card links: for the same labor funds' January-May 2026 performance, see ANK-2026-07-01-001 (gains of NT$2.1252 trillion, a 27.7% return, January-May 2026) -- this card's Layer 3 is a record of the same fund system's "accountability" face; the conduct period (2019-2020) differs from that card's performance period (2026), a structural link only, no causality. For the Taiwan-Japan comparison of individual-side money behavior, see ANK-2026-07-03-007 (the Taiwan-Japan retail-money "temperature gap") -- the institution-side entrance (this card) and the individual-side temperature gap (that card) are two faces of the same Taiwan-Japan comparison chart.

Framing (single consolidated block)

• Zero verified official anchors across the card: official_count_verified=0, official_count_raw=0, official_attribution_unverified_count=0. The MOL's promulgation and Q&A compilation and the High Court's press materials are all relayed by CNA reports; this site has not verified against originals from the MOL, the Bureau of Labor Insurance, or the High Court -- they serve as factual records with risk notices only and must not be treated as official endorsement; this card attaches no Wikidata Q identifiers (no registry verification; better absent than false).
• Consolidated statement on illustrative assumptions: the "5% investment return" and "1.44% average annualized growth rate of regular earnings" are both assumptions stated in the MOL's illustrative calculation, as carried in CNA's 2026-07-18 Q&A compilation, not guaranteed returns, and actual past or future returns may differ; the "guaranteed minimum return of at least the two-year fixed-deposit rate" is the new system's designed floor (per CNA's Q&A relay); the calculation is a single illustrative worker (30 years' seniority / 45 base units / age 55 / NT$50,000 monthly salary, manufacturing), not a population average, and must not be extrapolated.
• ROC-calendar conversions: ROC July 1, year 94 = July 1, 2005; ROC June year 108 to November year 109 = June 2019 to November 2020; ROC August-September year 109 = August-September 2020 -- the originals use the ROC calendar; this card converts to the Gregorian calendar and marks it.
• Judicial-case framing: the second-instance verdict was delivered on July 17, 2026, is appealable, and is not final; this card records the facts and sentences stated in the High Court press materials as relayed by CNA, offers no legal commentary, and does not predict the appeal's outcome; the conduct period (2019-2020) and the labor funds' January-May 2026 performance recorded in the target card are different periods, and this card builds no causality and casts no insinuation on the current management.
• Taiwan and Japan are not comparable on one yardstick (carried from the target card): the Taiwan side consists of institutional announcements and judicial records, the Japan side of an individual intention survey (a service-user sample, not representative of all of Japan) -- this card compares only the "market contact structure," not performance or superiority. This shift has no new Japan-side material; all new layers fall on Taiwan's institutional axis and the individual-institution interface axis, with the Japan side resting on the target card's base (an honest scope statement, not a concealment of deficiency).
• Carried figures' timestamps: F-011 to F-017 are snapshots from mid-June to July 2, 2026 as recorded by the target card (published in early July 2026); they are not new to this card and their timestamps are not updated.

Risk factors

• Take-up unknown: about 115,000 is the eligible population, not the number of applicants; no public statistics yet exist on actual contributions and settlements after the rules took effect on July 17, 2026 (see P-001).
• Scenario limits of the illustrative calculation: see the Framing section (not repeated).
• Judicial proceedings ongoing: see the Framing section (not repeated).
• Carried figures not updated: see the Framing section (not repeated).

FAQ

Q: What is an "old-system-only worker," who is eligible, and how many are there?

Workers employed before July 1, 2005 (converted from ROC year 94, as in the original) who chose to remain under the old labor pension system; per CNA's Q&A compilation of July 18, 2026, they currently number about 115,000. From July 17, 2026, these workers can declare voluntary contributions to their employer, open an individual pension account, and join the new-system labor pension fund's earnings distribution.

The scheme does not change their old-system status, and employers need not make new-system contributions for them because of it (CNA #1587714, #1510509).

Q: What did the amended Enforcement Rules effective July 17, 2026 change?

Promulgated by the Ministry of Labor on July 15, 2026 and effective July 17: they add two options -- voluntary contributions of up to 6% of monthly wages by old-system-only workers, and, for those meeting retirement criteria, early settlement of old-system-seniority pension by labor-management agreement with the full amount transferred into an individual account at the Bureau of Labor Insurance; for seniority accrued after settlement, the employer must still calculate and pay a pension, settleable year by year by agreement.

The MOL's example: age 55, 25 years' seniority, NT$50,000 average wage on the settlement date -> NT$2 million settled and transferred in full; after 5 more years of work, retiring at 60 on an average wage of NT$60,000, the employer must still pay NT$300,000 (CNA #1510509).

Q: What are the incentives, and how should the MOL's calculated gap be read?

Three incentives: contributions are excluded from taxable salary income for the contribution year, they join the new-system fund's investment operation and earnings distribution, and they carry a guaranteed minimum return of at least the two-year fixed-deposit rate. The MOL's illustrative calculation (as carried in CNA's 2026-07-18 Q&A compilation; 30 years' seniority / 45 base units / age 55 / NT$50,000 monthly salary, manufacturing): without settlement, about NT$2.55 million-plus at 65 (1.44% annualized wage growth, the MOL's illustrative assumption); with a 6% contribution plus NT$2.25 million settled into a new-system account, just over NT$4.16 million at 65 under the MOL's illustrative 5%-return assumption -- assumptions, not guaranteed returns.

The calculation is a single illustrative worker and must not be extrapolated to the whole population (CNA #1587714; see the Framing section).

Q: What did the second-instance verdict in the labor funds stock-manipulation case decide?

The Taiwan High Court ruled on July 17, 2026: Yu Nai-wen (游廼文), former head of the domestic investment division at the Bureau of Labor Funds, was re-sentenced to 8 years 4 months under the Anti-Corruption Act's profiteering offense with 5 years' deprivation of civil rights; Tang Chu-lieh (唐楚烈) received 8 years and Chiu Yu-yuan (邱裕元) 7 years 6 months; 7 others received 1 year 7 months to 2 years, all suspended; Hsieh Chih-ying (謝志英) and Tang Ming-chen (湯明真) were acquitted; the ruling is appealable. Per the High Court's press materials, the conduct (2019-2020, converted from ROC years) earned the Pau Jar Group NT$508,781,945 and caused the Bureau of Labor Funds losses of over NT$13.63 million and over NT$6.29 million.

The first instance had sentenced Yu to 9 years under the Securities and Exchange Act's market-manipulation offense; the second instance set that aside for errors in the findings on crime scale, criminal proceeds, and confiscation. The conduct period and the funds' 2026 performance are different periods; this card builds no causality (CNA #1568412).

Q: How does this relate to the target card's Taiwan-Japan "market contact" comparison?

The target card's thesis: Taiwan places the retirement-money market contact on the institution side (pooled investment), while in Japan it falls to the individual (once the lump sum arrives, the individual decides -- the 2026 survey shows only about 15% plan to invest it, with a roughly 4.4x gap by investment experience). This card moves Taiwan's institution side from "approved" to "in effect" (effective July 17, 2026, covering about 115,000 workers) and, with the same day's appeals verdict, adds that "governance and accountability are also part of the contact structure" -- the frame is unchanged, the components are filled in.

The two sides use different yardsticks; this is structural comparison, not performance comparison (carried from the target card; see the Framing section).

F-Units

F-001: The Ministry of Labor amended and promulgated the Enforcement Rules of the Labor Pension Act on 2026-07-15, effective from 2026-07-17: adding the options of voluntary pension contributions by old-system-only workers and early settlement-and-transfer by labor-management agreement; the effective date falls within the Executive Yuan scheme's original target of "implementation before end-July 2026" - source: CNA #1510509 - source_url: https://www.cna.com.tw/news/ahel/202607150155.aspx - confidence: high - basis: news_aggregation - period: Promulgated 2026-07-15; effective 2026-07-17 - caveat: MOL announcement relayed by CNA; this site has not verified against MOL originals; "implementation before end-July 2026" is the target phrasing in the 2026-07-02 Executive Yuan report cited by the target card

F-002: Key points of the amendment: old-system-only workers may voluntarily contribute up to 6% of monthly wages; after contributing, those meeting the Labor Standards Act's retirement criteria may, during the employment contract and by mutual agreement, settle their Labor Standards Act seniority pension early, with the settled pension transferred in full into the worker's individual pension account at the Bureau of Labor Insurance; for seniority accrued by continuing to work after an agreed settlement, the employer must still calculate and pay a pension when the contract lawfully ends, settleable year by year by agreement - source: CNA #1510509 - source_url: https://www.cna.com.tw/news/ahel/202607150155.aspx - confidence: high - basis: news_aggregation - period: Promulgated 2026-07-15; effective 2026-07-17 - caveat: MOL press-release explanation relayed by CNA (see the Framing section)

F-003: Employer obligations: the scheme does not change old-system-only workers' status, and employers need not make new-system pension contributions for them; where old-system seniority remains unsettled or unfinalized, employers must continue to set aside retirement reserve funds under old-system rules - source: CNA #1510509 - source_url: https://www.cna.com.tw/news/ahel/202607150155.aspx - confidence: high - basis: news_aggregation - period: Promulgated 2026-07-15; effective 2026-07-17 - caveat: MOL explanation relayed by CNA (see the Framing section)

F-004: The MOL's example: a worker aged 55 with 25 years' seniority and an average wage of NT$50,000 on the agreed settlement date -> an early-settled pension of NT$2 million, transferred in full into the individual account at the Bureau of Labor Insurance; if the worker works 5 more years and actually retires at 60 with an average wage of NT$60,000 -> the employer must still pay NT$300,000 in pension - source: CNA #1510509 - source_url: https://www.cna.com.tw/news/ahel/202607150155.aspx - confidence: high - basis: news_aggregation - period: 2026-07-15 (example in the MOL press release) - caveat: An MOL illustrative scenario (single example, not a statistic), relayed by CNA

F-005: Eligibility and scale: workers employed before July 1, 2005 (converted from ROC year 94, as in the original) who chose to remain under the old labor pension system may join the new system's voluntary contributions; they currently number about 115,000 - source: CNA #1587714 - source_url: https://www.cna.com.tw/news/ahel/202607180082.aspx - confidence: high - basis: news_aggregation - period: 2026-07-18 (time of CNA's Q&A compilation) - caveat: "Currently about 115,000" is an approximate figure at the report's time, relaying the MOL's explanation

F-006: Contribution incentives: while employed, an old-system-only worker may declare voluntary contributions to the employer, apply to open an individual pension account, and join the new-system labor pension fund's earnings distribution; amounts contributed within 6% of monthly wages are excluded from taxable salary income for the contribution year; the pension in the account carries a guaranteed minimum return of at least the two-year fixed-deposit interest rate - source: CNA #1587714 - source_url: https://www.cna.com.tw/news/ahel/202607180082.aspx - confidence: high - basis: news_aggregation - period: 2026-07-18 (CNA Q&A compilation); scheme effective 2026-07-17 - caveat: Relayed by CNA; the floor is a system design feature, not an investment-return promise (see the Framing section)

F-007: The MOL's illustrative calculation (30 years' seniority / 45 base units / age 55 / NT$50,000 monthly salary, manufacturing): old-system pension about NT$2.25 million; without settlement, working 10 more years to 65 under the assumption that wages grow at the 1.44% average annualized growth rate of regular earnings (the MOL's illustrative assumption) yields just over NT$2.55 million; contributing 6% voluntarily from 55 (about NT$3,036 a month) and transferring the settled NT$2.25 million into a new-system account yields, under the "5% investment return" (the MOL's illustrative assumption), just over NT$4.16 million accumulated at 65 - source: CNA #1587714 - source_url: https://www.cna.com.tw/news/ahel/202607180082.aspx - confidence: medium - basis: news_aggregation - period: 2026-07-18 (the MOL calculation as carried in CNA's Q&A compilation) - caveat: The "5% investment return" and "1.44% average annualized growth rate of regular earnings" are both the MOL's illustrative assumptions, not guaranteed returns; a single illustrative worker, not extrapolatable (see the Framing section)

F-008: Accompanying boundaries: settlement does not terminate the labor contract, and annual-leave seniority still counts from the hire date under the Labor Standards Act; the scheme does not compel employers to contribute 6% after settlement; where the settlement is below 45 base units, the employer must keep setting aside old-system reserve funds as seniority accrues, and pay the base-unit shortfall from settlement to retirement when the worker retires - source: CNA #1587714 - source_url: https://www.cna.com.tw/news/ahel/202607180082.aspx - confidence: high - basis: news_aggregation - period: 2026-07-18 (CNA Q&A compilation) - caveat: CNA relay of the MOL's Q&A explanation (see the Framing section)

F-009: The Taiwan High Court delivered its second-instance verdict in the labor funds stock-manipulation case on 2026-07-17: Yu Nai-wen re-sentenced under the Anti-Corruption Act's offense of profiteering in matters under one's charge to 8 years 4 months with 5 years' deprivation of civil rights; Tang Chu-lieh sentenced to 8 years and Chiu Yu-yuan to 7 years 6 months as joint principals in the Securities and Exchange Act offense of buying securities high and selling low, each with 4 years' deprivation of civil rights; the remaining 7 sentenced to 1 year 7 months to 2 years as joint principals in the breach-of-trust offense under the Securities Investment Trust and Consulting Act, all suspended; Hsieh Chih-ying and Tang Ming-chen acquitted; appealable. The first-instance Taipei District Court had sentenced Yu to 9 years with 5 years' deprivation of civil rights under the Securities and Exchange Act's market-manipulation offense; the second instance set that aside for errors in the findings on crime scale, criminal proceeds, and confiscation amounts (including omitting successive low-price sales of Far Eastern Department Stores shares, failing to calculate criminal proceeds, and misjudging the crime scale as NT$100 million or more) - source: CNA #1568412 - source_url: https://www.cna.com.tw/news/asoc/202607170131.aspx - confidence: high - basis: news_aggregation - period: Second-instance verdict 2026-07-17 - caveat: Appealable, not a final verdict; the High Court's account relayed by CNA; this card records sentencing facts only and offers no legal commentary (see the Framing section)

F-010: Per the High Court's press materials (relayed by CNA): between June 2019 and November 2020 (converted from ROC years 108-109), Tang Chu-lieh and Chiu Yu-yuan used buying high and selling low, matched trades, rumor-spreading, spoofed orders, and absorbing offloaded shares to push up or prop up Far Eastern Department Stores' share price, earning the Pau Jar Group NT$508,781,945; in August-September 2020 (ROC year 109, converted), Yu Nai-wen bought 486 lots (張, the Taiwan trading unit) of Far Eastern Department Stores shares through the Bureau of Labor Funds' in-house account and directed fund managers and researchers at the mandated 復華 and 統一 securities investment trusts to produce false investment assessment reports and buy 4,564 and 3,950 lots respectively; after all shares were sold and settled, the Bureau of Labor Funds suffered price-decline losses of over NT$13.63 million and over NT$6.29 million respectively - source: CNA #1568412 - source_url: https://www.cna.com.tw/news/asoc/202607170131.aspx - confidence: medium - basis: news_aggregation - period: Conduct period 2019-06 to 2020-11 (ROC-calendar conversion); High Court press materials 2026-07-17 - caveat: Findings in the High Court's press materials; the entire case is appealable and not final; "over" (餘) reflects the original phrasing and this card does not fill in exact values

F-011: [Carried from target card F-009, not new] The Executive Yuan approved the "voluntary contribution and early settlement scheme for old-system-only workers" on 2026-07-02: opening voluntary contributions and participation in the new-system labor pension fund's investment and earnings distribution; the MOL reported the new-system fund's annualized return at 7.64% from its July 2005 founding to end-2025, with annualized returns above 15% in each of the 2 years preceding the report; implementation targeted before end-July 2026 - source: CNA #1296678 - source_url: https://www.cna.com.tw/news/aipl/202607020137.aspx - confidence: high - basis: news_aggregation - period: 2026-07-02 (Executive Yuan meeting) - caveat: The state at the target card's filing (not yet implemented); this card's F-001 records the rules taking effect 2026-07-17; "the 2 years preceding" is the MOL's 2026-07-02 report framing; past returns do not guarantee future returns

F-012: [Carried from target card F-005, not new] Total labor funds size NT$8.6115 trillion; gains of NT$2.1252 trillion as of end-May 2026, a 27.7% return; May single-month gains NT$586 billion - source: CNA #1281038 - source_url: https://www.cna.com.tw/news/ahel/202607010058.aspx - confidence: high - basis: news_aggregation - period: Statistics as of 2026-05-31; announced by the MOL 2026-07-01 - caveat: CNA relay of the Bureau of Labor Funds' announcement; gains are point-in-time statistics subject to market movement

F-013: [Carried from target card F-006, not new] The labor funds' 10-year average return is 12.24% and 5-year average 15.94%; January-May 2026 gains were a record; June was expected flat (an outlook, not a conclusion) - source: CNA #1283385 - source_url: https://www.cna.com.tw/news/ahel/202607010219.aspx - confidence: high - basis: news_aggregation - period: 2026-07-01 (Bureau of Labor Funds briefing) - caveat: The 27.7% for January-May 2026 far exceeds the 10-year average of 12.24% (same labor funds, statistics as of 2026-05-31) = a single-year market environment, not the norm (the target card's framing)

F-014: [Carried from target card F-001, not new] Monicle Financial's 6,000-person "3-minute investment diagnosis" user survey (3,000 each in their 40s and 50s; response data as of May 2026): about 15% of those aged 40-59 overall would invest their retirement lump sum as investment capital; 25.1% among the investment-experienced versus 5.7% among the inexperienced, a gap of about 4.4x - source: PRTIMES #1295455 - source_url: https://prtimes.jp/main/html/rd/p/000000041.000049079.html - confidence: high - basis: official_statement - period: Response data as of May 2026; released 2026-07-02 - caveat: The population is service users (skewed toward those interested in asset building), not representative of all of Japan; see the target card

F-015: [Carried from target card F-002, not new] Same survey (response data as of May 2026): the top priority use of the retirement lump sum, regardless of experience, is "bank deposits (living costs in old age)" -- 35.0% among the experienced, 49.0% among the inexperienced - source: PRTIMES #1295455 - source_url: https://prtimes.jp/main/html/rd/p/000000041.000049079.html - confidence: high - basis: official_statement - period: Response data as of May 2026; released 2026-07-02 - caveat: A single-choice question; sample framing per the target card

F-016: [Carried from target card F-010, not new] Lithuania opened exits from its second pension pillar in early 2026: more than 500,000 people have exited and withdrawn over 3 billion euros in total; Lithuanian central bank data from April 2026: about 72% of withdrawn funds remain in residents' bank accounts - source: CNA #1066646 - source_url: https://www.cna.com.tw/news/aopl/202606170345.aspx - confidence: medium - basis: news_aggregation - period: Reported 2026-06-17; fund destinations per Lithuanian central bank April 2026 data - caveat: CNA relay of LRT reporting and central bank statements; Lithuania's system differs from Taiwan's and Japan's, behavioral reference only (see the target card)

F-017: [Carried from target card F-011, not new] Nan Shan Life failed to declare pension contributions for its sales agents under the Labor Pension Act; the Bureau of Labor Insurance has imposed monthly penalties since 2010 (Gregorian; converted from ROC year 99), totaling 908 cases and NT$90.8 million in fines as of end-May 2026 - source: CNA #1177166 - source_url: https://www.cna.com.tw/news/ahel/202606230099.aspx - confidence: medium - basis: news_aggregation - period: Penalty statistics as of end-May 2026; reported 2026-06-23 - caveat: An individual labor dispute in progress; only the penalty facts per the MOL's explanation are cited, with no legal commentary (see the target card)

J-Units

J-001: Official-anchor framing (the single consolidated block is the Framing section; this unit adds only the source grading and does not restate it): official_count_verified=0, official_count_raw=0, official_attribution_unverified_count=0. Source-grading supplement: the MOL's promulgation and Q&A compilation and the High Court's press materials are all relayed by CNA reports (grade-C media relay); the carried PRTIMES sources are platform-reviewed corporate releases (grade B); for the rest of the framing (no verification against originals, no treatment as official endorsement, no Wikidata Q identifiers), see the Framing section. - confidence: high - basis: news_aggregation

J-002: The three components of the "market contact" structure in this site's records (structural synthesis only, no new numbers): the entrance -- voluntary contributions and settlement transfers for old-system-only workers effective July 17, 2026, covering about 115,000 (F-001, F-005); the return -- the same labor funds' 27.7% January-May 2026 return against a 12.24% 10-year average (carried F-012, F-013); accountability -- contribution-side penalties (carried F-017) and investment-side justice (F-009, F-010). The three components sit at different times (2026 effectiveness / January-May 2026 performance / a 2026 verdict on 2019-2020 conduct); this card juxtaposes them as structure and builds no causality. - confidence: medium - basis: news_aggregation

J-003: Layer labels and limits: Layer 1 REVISE = CNA#1510509 (target card F-009 "approved" -> "effective 2026-07-17," not overturning the original figures); Layer 2 ADD_EVIDENCE = CNA#1587714 (the contact point's quantity of about 115,000 and price: tax / floor / the MOL calculation); Layer 3 CHALLENGE = CNA#1568412 (the governance dark side of institution-side pooling; conduct in 2019-2020 versus 2026 performance are different periods); Layer 4 CONNECT = pinning back to the target card's Taiwan-Japan comparison plus 2 published cards. No new Japan-side material this shift; all new layers fall on Taiwan's institutional axis and the individual-institution interface axis (honest scope statement). F-011 to F-017 are carried base facts not counted toward significance. Today's other shift drafts (ANK-2026-07-18-001 to 005) were unpublished at this card's filing; per the "link only published cards" rule, no links are set, only this statement. - confidence: high - basis: news_aggregation

P-Units

P-001: After the rules took effect on July 17, 2026, the actual number of voluntary-contribution and early-settlement applications among old-system-only workers (an eligible population of about 115,000) -- verifiable through subsequent MOL and Bureau of Labor Insurance statistics (open) ### P-002: The second-instance verdict in the labor funds stock-manipulation case is appealable and not final -- verifiable through subsequent judicial proceedings and court announcements; this card does not predict the outcome (open) ### P-003: Carrying the target card's P-002: the labor funds' June and first-half 2026 results (the Bureau expected June flat -- an outlook) in subsequent announcements -- the next verifiable number for the institution side's "return" component (open)

Significance self-check (extension-lane hard check)

This card, published on 2026-07-18, adds 10 entirely new traceable F-Units (F-001 to F-010) from 3 new sources, plus 7 base F-Units carried from the target card (F-011 to F-017, explicitly marked as carried and not counted as new), for a total of 17 (target card: 13); 9 frontmatter sources = 3 new + 6 carried (target card: 9; 3 further target-card sources ground no F-Unit here and are excluded under the orphan-source discipline, disclosed at the end of the Sources section); an internal citation chain of 3 cards including the target, and 2 published cards excluding the target (ANK-2026-07-01-001, ANK-2026-07-03-007) (target card: 1) -- F-Units 17>13, chain 3>1, sources 9=9 (not below the target card): none of the metrics falls below the target card; this is not a rewrite of the target card.

同事件・三視角 / Three Perspectives on the Same Event / 同一イベント・三つの視点

• 繁體中文：ANK-2026-07-18-006
• 日本語：ANK-2026-07-18-006-ja
• English：ANK-2026-07-18-006-en

Internal citation chain

Published ANK-Docs cited in this card: - ANK-2026-07-03-004 (The "Market Contact" Gap in Retirement Money, Japan vs Taiwan: in a 2026 Japanese survey of 6,000 people, only about 15% in their 40s and 50s plan to invest their retirement lump sum -- a roughly 4.4x gap by investment experience; Taiwan's labor funds are invested institutionally with a 27.7% return in January-May 2026, and the Executive Yuan approved voluntary contributions for old-system-only workers) -> this card is its extension (the target card): Layer 1 moves its F-009 "Executive Yuan approval of 2026-07-02, aiming for end-July" forward to "rules effective 2026-07-17"; Layer 2 adds the contact point's quantity and price; Layer 3 adds the institution side's governance dark side; Layer 4 pins it back onto the Taiwan-Japan comparison map. Links: zh / ja / en - ANK-2026-07-01-001 (Taiwan's "Nationwide Retirement Ledger" in the AI bull market: the labor funds gained a record NT$2.1252 trillion in the first 5 months of 2026 (27.7% return), and the Public Service Pension Fund gained NT$313.232 billion (24.29%)) -> the performance card for the same labor funds' January-May 2026; this card's Layer 3 records the same fund system's "accountability" face -- the conduct period (2019-2020) differs from that card's performance period (2026); structural link only, no causality. https://ainews.idaeo.ai/en/idaeo/ANK-2026-07-01-001 - ANK-2026-07-03-007 (The Taiwan-Japan retail-money "temperature gap" -- a survey of 250 wealthy Japanese: 36.8% of respondents keep 50% or more in cash and rank "preservation" first at 34.0%; contrasted with Taiwan's record 14,332,896 cumulative brokerage accounts in May 2026) -> the comparison card for individual-side money behavior; this card's Layer 4 "institution-side entrance opening" and that card's individual-side temperature gap are two faces of the same Taiwan-Japan comparison chart -- structural link only, no figures compared. https://ainews.idaeo.ai/en/idaeo/ANK-2026-07-03-007

Sources

1. [CNA #1510509] CNA (reporter 張雄風, Taipei), English rendering: "Old-system labor pension rules take effect July 17, adding voluntary contribution and early settlement options" (original Chinese title: "勞退舊制細則7/17生效 增自願提繳與提前結存選擇"; MOL announcement relayed by media, not verified against originals by this site), 2026-07-15. https://www.cna.com.tw/news/ahel/202607150155.aspx 2. [CNA #1587714] CNA (reporter 吳欣紜, Taipei), English rendering: "Voluntary pension contributions opened to old-system-only workers -- a Q&A rundown" (original Chinese title: "純舊制勞工開放自提退休金 QA一次看"; MOL Q&A compilation relayed by media), 2026-07-18. https://www.cna.com.tw/news/ahel/202607180082.aspx 3. [CNA #1568412] CNA (reporter 謝君臨, Taipei), English rendering: "Labor funds stock-manipulation case: appeals court convicts Yu Nai-wen and 9 others, 7 suspended" (original Chinese title: "勞動基金炒股案 二審判游廼文等10人有罪7人緩刑"; High Court press materials relayed by media), 2026-07-17. https://www.cna.com.tw/news/asoc/202607170131.aspx 4. [PRTIMES #1295455] Monicle Financial, Inc., the 6,000-person retirement-money survey (carried from the target card), 2026-07-02. https://prtimes.jp/main/html/rd/p/000000041.000049079.html 5. [CNA #1281038] CNA, labor funds gained NT$586 billion in May, overall return 27.7% (carried from the target card), 2026-07-01. https://www.cna.com.tw/news/ahel/202607010058.aspx 6. [CNA #1283385] CNA, labor funds gained over NT$2 trillion in January-May 2026, June expected flat (carried from the target card), 2026-07-01. https://www.cna.com.tw/news/ahel/202607010219.aspx 7. [CNA #1296678] CNA, Executive Yuan approves voluntary contributions for old-system-only workers, aiming for end-July implementation (carried from the target card), 2026-07-02. https://www.cna.com.tw/news/aipl/202607020137.aspx 8. [CNA #1066646] CNA, 500,000 Lithuanians exit the pension system, withdrawing over 3 billion euros (carried from the target card), 2026-06-17. https://www.cna.com.tw/news/aopl/202606170345.aspx 9. [CNA #1177166] CNA, union demands pension contributions; MOL says it will keep pressing Nan Shan Life (carried from the target card), 2026-06-23. https://www.cna.com.tw/news/ahel/202606230099.aspx

Carried-context material (used by the target card; grounding no F-Unit in this card; excluded from this card's sources under the discipline that "sources lists only what this card actually cites"): CNA#1285952 (Public Service Pension Fund's January-May returns), PRTIMES#1086906 (PR for a book on money in old age), PRTIMES#640844 (PR for a book on old-age finances) -- for bibliography and links, see target card ANK-2026-07-03-004.