Enforcement Rules of the Labor Pension Act Article 12

Employees shall transfer the agreed retirement payment for paying off in accordance with Paragraph 2 to Article 13 of the Act to individual accounts provided for by the Act; those who fail to meet the requirements stipulated by Paragraph 1 to Article 24 or Paragraph 1 to Article 24-2 of the Act are not entitled to payment. Employees who intend to transfer the entire sum of the above-mentioned payment into their individual account of labor pension shall base their calculation of seniority on the method pursuant to Article 24 and Paragraph 1 to Article 24-2 of the Act. The Bureau or insurers shall be notified of this transfer.