The issuance, management, supervising surpluses and feedback fund utilization and distribution of the Public Welfare Lottery
A. Taiwan's Public Welfare Lottery is issued under the “Public Welfare Lottery Issue Act”. The Ministry of Finance selects the Issuing Institute of the Public Welfare Lottery by public selection in accordance with the above-mentioned Act to conduct the issuance, sale, promotion, drawing, payment of prizes, and management. Adhering to the principle of “increase the surplus of the Public Welfare Lottery to care for the vulnerable groups, "the competent authority has the power of supervision.
B. Issuing Institutes of the Public Welfare Lottery
1. December 1999~2001: Bank of Taiwan
2. 2002~2006: TAIPEIFUBON COMMERCIAL BANK
3. 2007~2013: CTBC Bank Co., Ltd
4. 2014~2023: CTBC Bank Co., Ltd
5. 2024~2033: CTBC Bank Co., Ltd
C. Support for social welfare
1. The surplus of the Public Welfare Lottery :
The net revenues defined by the Act shall mean the total amount for which lottery tickets have been sold less the sum of the amount paid out in prizes and administration expenses (administration expenses refers to mainly the dealers commission income, issuers’ issuance remuneration, issuance loss and loss liability preparation). All lottery net revenues shall be used by government only for the national pension system (45%), the national health insurance program’s safety reserve (5%)and social welfare expenses (50%)。
2. Feedback Fund of the Public Welfare Lottery:
The feedback Fund may be one of the selection criteria in the competitive bidding process to select the Issuing Institute. Therefore, the Feedback Fund is accompanying income based on the selection criteria, and is not the inevitable income of Public Welfare Lottery. The Fund System was established as a selection criteria during the 3rd bidding process to select the Issuing Institute. Its application scope includes: employment services for vulnerable groups, social welfare, research and development of public welfare lottery system, personal safety of public welfare lottery retailers, savings insurance and transfer subsidy programs. The main part of the Fund is applicable to employment services and social welfare Service for vulnerable groups.
The“Public Welfare Lottery Supervising Committee of the Ministry of Finance” and “Feedback Fund Usage and Management Operation Team” will distribute the surplus and Feedback Fund generated by the Public Welfare Lottery to the social welfare authorities and local governments according to the Act. The Committee and the Team will supervise and evaluate the utilization of the respective agencies to ensure that surpluses and Feedback Fund of the Public Welfare Lottery are utilized properly, and to promote the development of social welfare.