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National Pension Supervisory Committee

  • Data Source:National Pension Supervisory Committee
  • Created:2018-01-25
  • Last Updated:2019-12-25

An Overview of the National Pension Supervisory Committee

      Pursuant to Article 5 of the National Pension Act, the National Pension Supervisory Committee (NPSC) is responsible for supervision of National Pension Insurance (including operations and finance) and review of insurance disputes. The supervisory functions are to be exercised according to the decisions of the members of the Supervisory Council and the Dispute Review Council based on joint discussions.  


The organizational structure and functions of the NPSC shall be defined as follows:

I. Organizational Structure and Prospects

(A) Organizational Structure, Prospects, and Core Values

1. Organizational Structure
      As set forth in Article 3 of the National Pension Act, the Ministry of Health and Welfare (Department of Social Insurance) is the central competent authority for matters pertaining to National Pension. It is further stipulated in Article 4 of the same Act and Article 3 of the Regulations for Management, Utilization and Supervision of the National Pension Insurance Fund that the operations of the Insurance is entrusted to the Bureau of Labor Insurance which is also the insurer, and the income and expenditure of the Fund is entrusted to the Bureau of Labor Funds. The organizational structure is illustrated below:

2. Goals and Prospects of NPSC:

(1)Goal
      In line with the implementation of the National Pension Act, this Committee assumed its supervisory duties on October 1, 2008 under the principle of “Serving the People and Safeguarding their Rights and Interests.” It actively oversees the insurance operations, reviews disputes as legally prescribed, and also offers advice with regard to related policies and practices to ensure sound operations and sustainability of the National Pension System.

(2)The Prospects of NPSC are as follows:

(B) National Pension Supervisory Council Meetings

1. Composition
      Pursuant to Article 3 of Guidelines for Establishment of the National Pension Supervisory Committee, Ministry of Health and Welfare, the Committee shall be composed of 15 to 17 members, one of them acting as the chairperson. The chairperson who shall chair committee meetings shall be the political deputy minister or one of the following Committee members as appointed by the minister. The following Committee members are to be recruited or appointed by the minister:

2. Organizational Functions

(1) Review of annual national pension plans and operation reports.
      The Bureau of Labor Insurance shall submit a National Pension plan for the following year and an operation report for the previous year according to the prescribed transmission method. The National Pension Supervisory Council shall review and approve said plan/report in a meeting as requested prior to final review and approval by the central competent authority.

(2) Review of annual budgets and financial statements of the National Pension Insurance Fund.
      The Bureau of Labor Insurance shall submit annual budgets and financial statements of the National Pension Insurance Fund according to the prescribed transmission method. The National Pension Supervisory Committee shall formulate audit opinions with regard to these budgets and financial statements submitted for review by the Supervisory Council.

 (3) Review of balance and utilization of the National Pension Insurance Fund.

i. The Bureau of Labor Funds shall draw up a National Pension Insurance Fund Utilization Plan before the beginning of the year as prescribed. The National Pension Supervisory Council shall review and approve said plan in a meeting as requested prior to implementation subject to final approval by the central competent authority.

ii. The Bureau of Labor Insurance shall compile and organize information pertaining to the utilization of the National Pension Insurance Fund encompassing investments in domestic and foreign securities (including items, amounts, and profits), entrusted management and performance statistics, stock investments with losses in excess of 30% and handling thereof, and engagement in hedging through derivatives submitted by the Bureau of Labor Funds on a monthly basis. Said information shall be handled in accordance with relevant administrative procedures upon review or reporting by the Supervisory Council as requested.

(4) Review of national pension regulations and suggestions for operation improvement based on research results.
      Recommendations and far-sighted review opinions shall be submitted in a timely manner with regard to laws and regulations formulated by the Ministry (Department of Social Insurance), the Bureau of Labor Insurance, and the Bureau of Labor Funds, suggestions for improvement of operations and financial matters in line with research results, formulated opinions based on deliberations, or public sentiment in Taiwan or abroad. The Supervisory Council shall review such recommendations and opinions as requested.

(C) National Pension Dispute Review Council Meetings

1. Organization Members
      Pursuant to Article 9 of the Regulations for Review of National Pension Disputes, the Committee shall recruit (appoint) 13 to 15 people according to the following principle as members of the Dispute Review Council. Review decisions shall be made jointly by the members.

2. Organization Functions

(1) The dispute review system is stipulated in Paragraph 2 of Article 5 of the National Pension Act. The “Regulations for Review of National Pension Disputes” have also been established according to Paragraph 3 of the same article to provide the criteria for review of disputes. The NPSC has formed the Dispute Review Council in accordance with Article 9 of the said Regulations. Meetings shall be convened on a monthly basis. Ad hoc meetings may be convened if deemed necessary.

(2) The abovementioned cases to be reviewed during meetings of the Dispute Review Council are cases in which insured persons disagree with matters related to National Pensions decided by the Bureau of Labor Insurance. Within 60 days after receiving the decision documents, they have to fill out the National Pension Dispute Review Application Form (two copies) and submit it along with a photocopy of the original decision document and related documentary proof to the Bureau of Labor Insurance to apply for review by the NPSC. The prescribed review period of three months is extendable by another three months if deemed necessary. Applicants disagreeing with the decisions of the Dispute Review Council may file petitions and administrative lawsuits according to related regulations. The process of National Pension Dispute  review is indicated below (phone number for inquiries: (02)3343-7138):

(D) Administrative Organization of this Committee:


Ⅱ.Responsibilities of the National Pension Supervisory Committee

According to the regulations governing the establishment of the National Pension Supervisory Committee, the National Pension Supervisory Committee has the following 8 responsibilities:

(A)Review of annual national pension plans and operational reports.
Review of the National Pension plan for the following year and the operation report for the previous year submitted by the Bureau of Labor Insurance according to the prescribed transmission method. Supervisory Council shall review and approve said plan/report in a meeting as requested prior to final review and approval by the central competent authority.

(B)Inspection and evaluation of national pension operations.
On-site spot checks of payment and coverage-related operations and general affairs pertaining to the National Pension Insurance handled by the Bureau of Labor Insurance

(C)Review of annual budgets and financial statements of the National Pension Insurance Fund.
Review of the budget of subordinate units of the National Pension Insurance Fund for the following year and financial statements for the previous year compiled and submitted by the Bureau of Labor Insurance at the beginning of each year.

(D)Supervision of the balance, custody and utilization of the National Pension Insurance Fund.
Monthly reviews of revenues and expenditures, utilization conditions, and accumulated amounts of the National Pension Insurance Fund reported by the Bureau of Labor Insurance; convening of quarterly meetings of the risk control implementation task force for the collection of domestic and international economic intelligence and identification of risk factors as well as formulation of issues for discussion in meetings attended by invited experts, scholars, and government agency representatives ; annual review of asset allocation and investment utilization plans for the National Pension Insurance Fund as well as key proposals pertaining to arrears, charge-offs, and bad debt records.

(E)Inspection and evaluation of national pension finance and accounts.
Annual audits of investment utilization and management operations pertaining to the National Pension Insurance Fund including legal compliance, audit execution, and risk control practices to guarantee the safety of the Fund.

(F)Resolution of national pension disputes.
Where disputes arise out of decision of the Bureau of Labor Insurance, the insured, the beneficiary, persons applying for National Pension payments, National Pension stakeholders, or the spouse of the insured with a joint payment liability shall file applications for review with the National Pension Supervisory Committee within 60 days after receipt of the decision documents. Where applicants disagree with the review decision, they may file petitions and administrative lawsuits pursuant to relevant laws.   

(G)Review of national pension regulations and suggestions for operation improvements based on research results.
Laws and regulations formulated by the Ministry (Department of Social Insurance), the Bureau of Labor Insurance, and the Bureau of Labor Funds, suggestions for improvement of operations and financial matters in line with research results, or formulated opinions based on deliberations shall be submitted to the Supervisory Council for review.

(H)Other matters related to the supervision of National Pension operations.
Other items related to the requirements of National Pension supervision operations in addition to the aforementioned matters.