Act Governing Retirement, Severance, and Bereavement Compensation Under the Individual Account System for the Teaching and Other Staff of Public Educational Institutions Article 30

When a staff member who chooses to receive the monthly pension referred to in Paragraph 1, Subparagraph 2, Item 1 of the preceding article receives their first such monthly pension, they shall make a lump-sum payment of a certain amount and enroll in annuity insurance, which will pay annuity benefits if the average remaining life expectancy determined referred to in Paragraph 6 of the preceding article is exceeded. However, the cumulative total amount in their individual account shall be calculated and paid, in accordance with the provisions of Paragraph 1, Subparagraph 2, Item 1 of the preceding article, prior to setting up the annuity insurance.The “certain amount” to be paid, the associated payment procedures, and the qualifications of the underwriting insurer（s）referred to in the provisions of the preceding paragraph shall be prescribed by the competent authority.