Enforcement Rules of the Labor Pension Act Article 8

Upon enforcement of the Act, employees who are notified by the Central Competent Authority that are subject to the Labor Standards Act shall adopt the Labor pension system provided for by the Act, with the employers contributing to individual pension accounts and reporting to the Bureau within 15 days after the Act has come into force. However, those participating in annuity insurance as prescribed in Article 35 of the Act shall not be subject to this deadline.Assessments of prior seniority, level of pension payment and severance payments of employees who adopt the pension mechanism of the Act as mentioned in the previous paragraph shall be made in accordance with the, Article 84-2 of the Labor Standards Act.