Act Governing Retirement, Severance, and Bereavement Compensation for the Teaching and Other Staff Members of Public Schools Article 35

A retiring staff member is eligible for a preferential-interest savings deposit with the Bank of Taiwan Corporation for any lump-sum pension payment received for his or her years of service in employment before the implementation of the New Pension System and for any lump-sum old-age payment received for years of participation in Civil Servant and School Staff Insurance before the implementation of the New Pension System.With respect to preferential-interest savings deposits for lump-sum pension payments and Civil Servant and School Staff Insurance lump-sum old-age payments as referred to in the preceding paragraph, the central competent authority, jointly with the Ministry of Finance, will draft regulations governing the eligible persons, and conditions for setting up, such preferential-interest savings deposits, and the deposit amounts, time limits, interest differential subsidies, and other matters related to such deposits, and the draft regulations will be submitted to the Executive Yuan for final approval.The amount of a lump-sum old-age payment from Civil Servant and School Staff Insurance that may be deposited in a preferential-interest savings deposit by a person who has retired and receives pension on a monthly or partial monthly before this Act comes into force shall be governed by the original provisions from before the enforcement of this Act.