Act Governing the Retirement, Bereavement Compensation, Discharge with Severance Pay Benefits for the Teaching and Other Staff of School Legal Persons and their Respective Private School(s) Article 33

The Fund Management Committee shall set up separate accounts for and separately handle the financial matters and revenue and expenditure of the former private school retirement fund, the Retirement and Compensation Fund, and the reserve funds that private schools have delegated the fund to manage and utilize in accordance with Article 9, Paragraph 2. The Fund Management Committee shall handle the associated accounting reports and annual accounts in accordance with regulations.Regulations governing the revenue and expenditure, management, utilization, and allocation of any surplus or deficit of the Retirement and Compensation Fund and of the former private school retirement fund, and other related matters shall be prescribed by the central competent authority.