Act Governing Retirement of and Bereavement Compensation for Employees of Post and Telecommunications Enterprises under the MOTC Article 10

Those who have retired in accordance with this Act shall be disbursed a lump-sum pension and a monthly pension pursuant to the provisions as follows:1. Those who meet the requirements of Article 5, Article 6, or Article 7 but have less than ten (10) years of service shall be disbursed a lump-sum pension; those who have at least ten (10) years of service shall be disbursed a lump-sum pension and a monthly pension. However, in accordance with the provisions of Subparagraph 2 of Paragraph 1 of Article 5, those who are under the age of fifty (50) and are capable of working shall not receive a monthly pension as part of their pension; their pension shall be disbursed and be doubled based on a lump-sum pension in accordance with provisions of Paragraph 1 of Article 12.2. Those who are subject to compulsory retirement in accordance with Subparagraph 1 of Paragraph 1 of Article 7 shall be disbursed a lump-sum pension and a monthly pension, and an additional monthly pension may be disbursed if approved. However, the additional part is limited to no more than twenty percent (20%). Those who have less than ten (10) years of service shall be disbursed a lump-sum pension in equivalent to their ten-month pension.3. Those who undertake compulsory retirement pursuant to Article 7 and then receive approval of reinstatement, once they are subject to severance in accordance with Paragraph 2 of the preceding Article, shall be disbursed a lump-sum pension based on their reinstated years of service and a monthly pension based on the total years of service before and after reinstatement. However, those who undertake compulsory retirement pursuant to Subparagraph 2 of Paragraph 1 of Article 7 shall not be disbursed a monthly pension if their total years of service before and after reinstatement is less than ten (10) years.