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New group of specially-trained Manulife Taiwan agents will provide up to date retirement advice services to Taiwanese workers Taipei – On July 17 and 18 respectively, the Legislative Yuan approved the new Labor Insurance Pension System and the revised National Pension Act in Taiwan, a new mainstream policy for the annuitization of pensions. In recognition of these new regulations, Manulife has created a “Labor Insurance Pension Consulting Group” - comprising dedicated Manulife agents - to provide nationwide services to workers and employers, including an explanation and trial calculation of how the new labor insurance pension, national pension and other pension systems etc might affect local people’s retirement planning. Manulife Taiwan is the first company in the life insurance industry to initiate such a consultancy service. The services will enable Taiwanese people to get a better understanding of how much money they might have available in retirement and identify potential funding gaps. Manulife has been working hard to deepen its engagement in the retirement market. When the government made changes to the pension system in 2005, Manulife organized a similar “Labor Pension Act Consulting Group” consisting of more than a hundred of professional financial planners to assist the Bureau of Labor Insurance in promoting the policies. The consulting group provided island-wide briefings and trial calculation services to both employers and employees on the old and new labor pension systems. Today, focusing on the National Pension Act and Labor Insurance Pension System which are to be implemented in October 2008 and January 2009 respectively, Manulife has, in the same way, mobilized the best financial planners in the company to develop an integrated calculating software covering the Labor Pension Act, Labor Insurance Pension System and National Pension Act, so that the public could have a full picture about the retirement benefits provided by both the government and the employers. The trial calculation of personal retirement income also helps the individuals to have a precise view on the options for utilizing the retirement funds. As part of the supplementary services, Manulife is also planning nation-wide seminars named “Easy 60’s – Introduction to the Labor Insurance Pension System”. A fre explanation and other consulting services will be provided to the policyholders as well as the general public. Apart from understanding the difference between the lump sum payment and annuitized pension under the labor insurance system, participants of the seminar will also be given the opportunity to understand other regulations including disabled pension payment, death payment and survivor’s pension payment, thereby helping them to understand their own rights and interests clearly. Mr. Tsai Kao-Bing, Assistant Vice President of Manulife Taiwan, indicated that implementation of the New Labor Pension Act, Labor Insurance Pension System and the National Pension Act evidenced the efforts made by the government to take care of workers. He said: “Faced with new terminology and different payment systems, however, many workers have lots of questions, including how to ensure they receive the best protection after retirement, and whether the pension funds will sufficiently cover their needs after retirement. Through its great efforts in making clear the various issues relating to the labor insurance pension system, Manulife continues to strive to help all workers in Taiwan to enjoy a worry-free retired life.” Manulife is currently the largest provider of the USA 401K Retirement Products in the North America region. It is also the leading life insurance service provider of the MPF in Hong Kong. Retirement planning and services are an important part of the services that Manulife offers around the world. With the launch of its “Guaranteed Withdrawal Benefit”, a leading product in the Taiwan market, Manulife has become not only a brand name in the world retirement market, but also the winner of The Asia Insurance Company’s “Life Insurance Company of the Year” in 2007. About Manulife Financial Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$400 billion (US$393 billion) as at June 30, 2008. Manulife Financial is one of two publicly traded life insurance companies in the world whose rated life insurance subsidiaries hold Standard & Poor’s Rating Services’ highest “AAA” rating. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. - 30 - For more information: Manulife (International) Limited, Taiwan Branch 12F, No.89, Sungren Road,Taipei 11073, Taiwan, R.O.C. TEL：02-27575888 FAX：27575889 www.manulife.com.tw Contact: Murphy Lin 02-27572872 0932008581 Murphy_lin@manulife.com |
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