Regulations for the Implementation of Annuity Insurance under the Labor Pension Act Article 35

Where a worker participating in annuity insurance leaves office and is employed later on, the new employer shall be the applicant of his/her annuity insurance and continue to pay the premium.Where a worker leaves office and is not employed later on, or where the worker is re-employed after leaving office and chooses to participate in the annuity insurance provided by the new employer, the applicant of the original annuity insurance shall be changed to the worker himself/herself. The worker may choose to continue or suspend payment of the premium or process reduction of the premium, and to continue to accumulate returns based on the policy value reserve at the time of change.Where a worker leaves office and is re-employed later on, if he/she applies for transferring the policy value reserve of the original annuity insurance to the annuity insurance provided by the new employer, the original insurer shall complete the transfer procedures within 30 days from the date on which it receives the application in accordance with Article 67 herein.