The Chinese Nationalist Party (KMT) has proposed a bill to require the government to subsidize the Labor Insurance Fund with at least NT$80 billion (US$2.71 billion) per year to keep it from going bankrupt, KMT caucus whip William Tseng (曾銘宗) said on Sunday.
The KMT caucus called on the government to address the imminent bankruptcy of the fund, which is intended to provide retirement pensions for workers.
It proposed an amendment to the Labor Insurance Act (勞工保險條例) for the government to allocate at least NT$80 billion for the fund annually to ensure its sustainability, Tseng told a news conference in Taipei.
The amendment