Taiwan's monthly minimum wage to be increased by 5% on Jan. 1

Taiwan's monthly minimum salary to be hiked by 5%, hourly minimum wage by 7% on Jan. 1, 2019

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(CNA photo)

TAIPEI (Taiwan News) -- Among a number of new regulations to be rolled out on Jan. 1, 2019 includes a 5 percent increase in the monthly minimum wage and a 7 percent increase in the hourly minimum wage.

Effective Jan. 1, the monthly minimum wage will be increased from NT$22,000 to NT$23,100, representing a five percent pay hike. The hourly minimum wage will be raised from NT$140 to NT$150, a seven percent increase pay increase.

According to the Ministry of Labor's (MOL) estimates, 1.814 million workers will benefit from the new monthly salary increase, including 1,363,400 Taiwanese workers and 438,000 foreign workers. As for the hourly wage hike, 456,000 Taiwanese workers are expected to benefit.

Along with the increase of basic wages, the MOL will also revise the monthly contribution for the 19th grade of the "Table of Labor Pension Contributions" in relation to the "Monthly Contribution Wages Classification of Labor Pension from NT$22,800 to NT$23,100. The Grade 1 insurance salary for "Labor Insurance -- Table of Grades of Insurance Salary" will also be increased from NT$22,800 to NT$23,100.