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Worried About Creditors Seizing Your Pension? Labor Ministry Advises Opening a Protected Account
cnyes · 2026-08-27
The Ministry of Labor advises workers to open a protected account to shield their pensions from debt-related seizures, ensuring financial security in retirement.
What Happened
Pension Protection Mechanism: In response to recent cases of pension funds being subject to compulsory execution, the Ministry of Labor is reminding workers about the availability of "non-seizable accounts." This mechanism acts as a legal firewall, ensuring that retirement funds remain untouched by personal debt or legal disputes.
Legal Framework: Under the Labor Pension Act, the right to claim a pension is considered a personal right that cannot be assigned, offset, or seized. Workers facing financial stress should leverage these legal provisions to protect their hard-earned savings from being forcibly deducted by creditors.
Application Process: Workers must first obtain a certificate from the Bureau of Labor Insurance and then visit designated financial institutions, such as the Land Bank of Taiwan or Chunghwa Post, to open a protected account. Once established, the funds within these accounts are legally shielded from any form of compulsory execution or seizure.
Professional Guidance: The Ministry encourages workers not to forgo their pension benefits out of fear of debt. For those with questions regarding the application process or legal requirements, the Bureau of Labor Insurance provides dedicated support and professional legal guidance to help secure their retirement savings.