The Bureau of Labor Funds should be more conservative in issuing mandates in the first half of 2023, as rate hikes continue to pressure the global market, market advisors said.
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Taiwan pension funds supervised by the Bureau of Labor Funds (BLF) posted an investment gain of NT$184.9 billion (US$6.65 billion) in the first quarter, translating into a return of 4.12%, as they continued to recover from the year-ago loss when global stocks plunged at the onset of the coronavirus crisis.
Assets of the eight labour pension and annuity funds rose 10.74% to NT$4.74 trillion from NT$4.28 trillion in March 2020, BLF says in a statement on May 4. Assets were up 3.94% from NT$4.56 trillion at the end of December.
The funds incurred an investment loss of NT$471.2 billion in the first quarter of 2020 amid the global market rout. They began to bounce back in July.
Several new government regulations to take effect Jan. 1
12/28/2020 05:03 PM
CNA file photo
Taipei, Dec. 28 (CNA) The government will implement a series of new regulations Jan. 1, some of which will apply specifically to foreign nationals in Taiwan. The following are some of the major changes:
▋The Ministry of the Interior will change the numbering format of Alien Resident Certificates (ARC) and Alien Permanent Resident Certificates (APRC) to bring them in line with the Taiwan national identification card so that they could be more widely used.
▋The Ministry of Finance will increase the basic allowance per person that taxpayers can deduct from their income when filing income taxes, from NT$175,000 to NT$182,000.