Act Governing Retirement, Severance, and Bereavement Compensation Under the Individual Account System for the Teaching and Other Staff of Public Educational Institutions Article 12

A staff member who does not meet the eligibility criteria for retirement or severance who leaves employment may apply for the retirement and compensation funds in their individual account to be returned to them in a single lump sum.A staff member with less than five years of service in employment who leaves employment may apply to postpone collecting their retirement and compensation funds, in which case the management authority will pay the retirement and compensation funds that they have not yet collected in one lump sum, no later than the date that the person turns 60.If the person referred to in the preceding paragraph dies without having collected their retirement and compensation funds, their survivors may apply to the management authority for the funds to be paid to them in one lump sum. The scope, order of entitlement, and proportional entitlements of the survivors shall be handled in accordance with the provisions of Article 34.