FILIPINO workers in Taiwan are bound to have a genuinely happy New Year in light of a minimum wage increase mandated by the government of their host country.
According to the Manila Economic and Cultural Office (MECO) based in Taipei, a total of 123,768 overseas Filipino workers (OFWs) in Taiwan are expected to benefit from the new minimum wage schedule. “Our OFWs in Taiwan will enjoy a good start of the new year with their wages being increased,” MECO chairman Silvestre Bello III said in a statement.
“Our OFWs in Taiwan will enjoy a good start of the new year with their wages being increased,” MECO chairman Silvestre Bello III said in a statement.
The MECO has registered 151,562 OFWs in Taiwan. Bello also lauded the gesture of the Taiwanese government to consider the OFWs’welfare.
Taiwan’s Minimum Wage Act raised the monthly minimum pay by 3.89 percent equivalent to NT$1,070 effective Jan. 1, 2024.
The new minimum wage will be increased from NT$26,400 (₱44,800) to NT$27,470 (₱46,699), while the basic hourly rate will be raised from NT$176 to NT$183.
The wage act aims to expedite Taiwan’s minimum wage adjustment by raising the minimum pay based on the annual rise in the consumer price index (CPI) which is a way to guarantee that the workers’ pay can cope with changes in the cost of living.
The framework of the law is reviewed by a committee team chaired by the Labor Minister and members from different sectors such as labor and industry, the academe, the Ministry of Economic Affairs and the National Development Council.