Labor Pension Act（2016.11.16）
Articles 5, 24, 46 and 48 of the Labor Pension Act amended and promulgated by the Presidential Decree No. 10500140121 on November 16 th, 2016
Article 5 The Central Competent Authority shall entrust the Bureau of Labor Insurance, Ministry of Labor (hereinafter "the Bureau ") to take charge of the revenues, expenditures and safeguard of labor pension, and the imposition of late payment charges.
Article 24 A worker who is sixty years or older may claim for retirement payment according to the following regulations:
1.Workers whose seniority exceeds fifteen years may choose to receive either monthly pension payments or a lump-sum pension payment.
2.Workers whose seniority is less than fifteen years shall claim for a lump-sum pension payment.
For workers referred to in subparagraph 1 of the preceding paragraph that have selected the form of payment, after the Bureau has approved the form of payment, changes cannot be made.
Seniority referred to in Paragraph 1 shall be calculated based upon the period of which the contributions to the pension have been made. If the seniority of an employee is interrupted, both his/her seniority before and after the interruption shall be combined in calculation.
A worker who is not applicable to the Labor Standards Act shall claim for pension only when he/she meets the requirement prescribed in Paragraph 1.
Article 46 When an insurer is in violation of Paragraph 2 of Article 36 and fails to notify the Bureau within a given period, it shall be fined no less than N.T.$60,000 but not exceeding N.T.$300,000 and such insurers shall be ordered to make improvements within a given period; those failing to make improvements within the given period shall be fined consecutively.
Article 48 When a business entity is in violation of Article 40 by refusing to provide information and materials or taking any unfavorable measure against the employee who files a complaint, it shall be fined no less than N.T.$30,000 but not exceeding N.T.$300,000.