Enforcement Rules of the Labor Pension Act Article 37-1

Article 25 of this Act stipulates that if an employee applies for monthly pension based on this Act, the entire sum accumulated in his or her personal retirement account, calculated based on Subparagraph 1, Paragraph 1 of Article 23 of this act, shall be paid to the employee.When issuing monthly pensions according to Article 24-2 of the Act, the Bureau of Labor Insurance shall apply the length of time determined by monthly pension applicants as the basis for calculating the monthly pension specified in Subparagraph 1, Paragraph 1 of Article 23 of the Act.The unit of the length of time noted in the preceding Paragraph shall equate to the number of years worked, and that length of time shall be rounded to a whole number. Once pensions are issued, no changes may be made.