Act Governing Retirement, Severance, and Bereavement Compensation Under the Individual Account System for the Teaching and Other Staff of Public Educational Institutions Article 9

The joint monthly retirement and compensation funds contributions paid in accordance with the provisions of the preceding article shall be levied at the rate of 15 percent of twice the staff member's base salary（based on seniority）, of which, the government contributes 65 percent on a monthly basis and the staff member contributes 35 percent, jointly deposited into the individual account.Apart from the monthly contribution an individual must make referred to in the preceding paragraph, a staff member may voluntarily make additional contributions to their individual account, up to a maximum of 5.25 percent of twice the staff member's base salary（based on seniority）.The retirement and compensation funds contributions made by a staff member in accordance with the provisions of this Act are not included in their annual taxable income.Unless other provisions of this Act apply, the payment of the retirement and compensation funds contributions shall be halted in any of the following circumstances:1. The staff member is on unpaid leave.2. The staff memer has been provisionally removed from employment or is on administrative suspension.3. The staff member is on disciplinary suspension without pay for at least six months.If any excess government retirement and compensation funds contributions are paid into an individual account, the management authority shall verify that this has occurred and recover the principal excess contribution, and any interest or dividends earned, and return those funds to the agency that made the excess contribution. The verified amount to be recovered may be deducted from the cumulative total amount in the individual account. If it is not possible to deduct and recover the excess contribution or if the amount in the account is insufficient to do so, the management authority shall issue a written order for the party to repay the outstanding amount within a prescribed period; if it is not repaid within the prescribed period, the matter shall be referred for administrative enforcement in accordance with the law.