Are Gold Card holders eligible for the Labor Pension System?

Gold Card holders are covered under the New Labor Pension System pursuant to Article 24 of the Act for the Recruitment and Employment of Foreign Professionals. Note: Employers are required to make monthly pension contributions for employees covered by the New Labor Pension System. Contributions shall be deposited into individual labor pension accounts established by the Bureau of Labor Insurance, or employers may opt to enroll employees in an annuity insurance plan. The employer’s contribution shall not be less than 6% of the employee’s monthly salary. In addition, employees may make voluntary contributions of up to 6% of their monthly salary, which are fully deductible from their annual individual income tax. Ownership of the individual pension account belongs to the employee.

For further details, please visit the Ministry of Labor website .