Non-Managerial Staff Benefits
Expenses for the Group
(Unit: NTD mn)
Annual Non-Managerial Staff
Benefits Per Employee
(Unit: NTD mn)
Yuanta Employee Stock
(Unit: mn shares)
Note 2: Staff benefits expenses include salaries, labor and health insurance, pensions, and other costs associated with employee benefits.
Note 3: “Non-managerial staff” excludes the chairman and deputy chairman of the board and other appointed managers.
In January 2003, Yuanta Financial Holdings set up its Employee Benefits Committee, which oversees the monthly appropriation of funds for employee benefits, and meets at least once every quarter. The employee benefit funds are independently managed and employed by the Committee, including providing grants to social clubs that encourage employees to share experiences and pursue mentally and physically healthy lifestyles. Additionally, the Employee Benefits Committee arranges discounts and benefits for employees with partner companies in dining, accommodation, clothing, travel, and entertainment, along with keeping employees updated on discounts through the Company’s internal website. By doing so, we are able to help our employees enjoy more convenient, happier lives.
In order to secure the well-being of our employees upon retirement, in January 2003 the Company set up an Employee Pension Reserves Supervision Committee, reporting regularly to management and focusing on managing labor retirement matters, including making monthly legally mandated contributions to retirement funds. As of end of 2019, the cumulative labor retirement reserve fund is NTD 6.110 million.
With the implementation of the Labor Pension Act on July 1, 2005, we make monthly contributions of 6% of employee’s insurance level for each employee to individual retirement accounts, in an effort to provide further well-being security for our employees upon retirement. In 2019, the total contribution by the Company is NTD 6.579 million.
To encourage long-term savings among our employees, in August, 2003, the Company set up an employee stock ownership plan (ESOP), whereby employees deposit a fixed amount each month and the Company issues corporate stocks of the same value to them, making them also shareholders in the Company. Not only does such a plan help protect employees' post-retirement or post-departure lifestyles, it also helps them feel a greater sense of solidarity with the Company, enhancing cohesion and sense of self-worth while also sharing in the Company's results.
|Social, Group Insurance||Leave||Pensions||Maternity Gifts|
|Birthday Gifts||ESOP trust||Compassionate compensation||Gifts for weddings bereavements and celebrations|
|Health checks||Employee training grants||Emergency relief||Scholarships for employees’ children|
To provide for comfortable post-retirement lifestyles for our employees, Yuanta became one of the first companies in the industry to cooperate with its insurance subsidiary Yuanta Life in establishing a group annuity plan for employees, giving them an opportunity to buy into policies at lower prices. The Company organized a series of explanatory meetings in February, 2016, held in northern, central, and southern Taiwan, to help employees better understand the content of these policies and emphasize the importance of early retirement planning as a means of guaranteeing post-retirement quality of life.