Act Governing Retirement, Severance, and Bereavement Compensation for the Teaching and Other Staff Members of Public Schools Article 66

All pension and benefit payments set out in this Act shall without exception be made by means of direct remittance into an account by a financial institution, and shall be paid in accordance with the following provisions1. A lump-sum pension payment and initial installment of monthly pension, after having been reviewed and approved by the competent authority, shall be paid beginning from the effective date of retirement. However, if a deferred monthly pension is opted for under Article 31, paragraph 3 or Article 32, paragraph 4, subparagraph 2 or 4, it shall be paid beginning from the date the person reaches the statutory starting age for payment. The second and subsequent installments of monthly pension shall be paid once a month according to the uniform operations for such payments.2. Severance pay, after the years of service and the payment have been reviewed and approved by the competent authority, shall be paid beginning from the effective date of severance.3. Lump-sum survivor benefit and lump-sum bereavement compensation shall be paid after they have been reviewed and approved by the competent authority.4. Survivor annuity, after it has been reviewed and approved by the competent authority, shall be paid beginning from the regular payment date for the next monthly pension following the death of the retired staff member. However, in the case of a spouse who has not remarried and who opts for survivor annuity under Article 45, paragraph 2, it shall be paid beginning from the date the spouse reaches the statutory starting age for payment. The second and subsequent installments of a survivor annuity will be paid once a month according to the uniform operations for such payments.5. The initial installment of monthly bereavement compensation, after having been reviewed and approved by the competent authority, shall be paid beginning from the next month following the death of the staff member. The second and subsequent installments of monthly bereavement compensation will be paid once a month according to the uniform operations for such payments. The same shall apply to additional monthly bereavement compensation payments paid monthly according to the number of minor children among the survivors pursuant to Articles 58 and 59.The central competent authority shall separately adopt regulations prescribing the operational procedures for verification of the qualifications of recipients, and for the payment, of the pension and benefit payments, and other relevant matters, under the preceding paragraph.