Pension, labor insurance to be part of divorce settlement


CNA

TAIPEI–The Cabinet-level Council of Labor Affairs (CLA) is hoping to make it possible in the near future for pension and labor insurance income to be included among the assets split up in divorce settlements, CLA Minister Wang Ju-hsuan said yesterday.

When a married couple decides to get divorced, their assets should be evenly divided, Wang said, but up to now, future income from pensions or insurance plans run by the CLA’s Labor Insurance Bureau are not included among the assets.

Wang said the CLA is considering how to calculate the income so that it could be included in divorce settlements, and she expected the council to refer to formulas adopted in Germany and Japan, where similar practices exist.

The CLA is currently mulling two concepts to distribute the income evenly. One plan would split the pension income in half after the spouse entitled to the pension retired and separate checks would be sent to the former husband and wife. The other idea would be to discount the future anticipated pension income and add it to the couple’s common asset pool at the time of the divorce, Wang said.

The labor minister did not provide a target date for when the plan could be put in place.