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The Act is enacted to protect workers' livelihood after retirement, strengthen the relations between workers and employers, and promote social and economic development.
The Act takes precedent over other statutes with respect to labor pensions. Matters that are not addressed herein shall be governed by other statutes.

The term "competent authority" referred to in the Act shall be the Ministry of Labor at the central level, the municipal government at the municipal level, and county (city) government at the county (city) level.

The terms "worker", "employer", "business entity", "labor contract", "wage" and "average wage" referred to in the Act shall be defined in accordance with Article 2 of the Labor Standards Act.

The central competent authority shall, in order to supervise the management and operation of the labor retirement fund as stipulated in the Act and Article 56, Paragraph 3 of the Labor Standards Act, employ government representatives, labor representatives, employer representatives and experts and scholars to form a Labor Fund Supervisory Committee (hereinafter referred to as the Supervisory Committee).
The matters, procedures, personnel composition, term of office and employment and other related matters overseen by the Supervisory Committee mentioned in the preceding paragraph shall be determined by the central competent authority.

The central competent authority shall entrust the Bureau of Labor Insurance, Ministry of Labor（hereinafter "the Bureau"）to take charge of the revenues, and expenditures and to be responsible for safeguarding labor pension funds, as well as the imposition of late payment charges.

Employers shall on a monthly basis contribute labor pension funds to individual labor pension accounts at the Bureau for employees covered by the Act.
Unless otherwise provided for in the Act, an employer shall not create his/her own labor pension mechanism to replace the labor pension system prescribed in the preceding paragraph.

This Act applies to the persons below as designated under the Labor Standards Act, but does not include those whose pensions are appropriated in accordance with the Private School Act:
1. Workers holding ROC citizenship;
2. Foreigners, people of China, Hong Kong or Macao residents who have married ROC nationals and registered a household in the Republic of China, and who have residency status and are permitted to work in Taiwan;
3. Foreigners, people of China, Hong Kong or Macao residents in the preceding subparagraph who have divorced their spouses or whose spouses have passed away, and who are permitted in accordance with relevant laws and regulations to continue to reside and work in Taiwan.
4. Foreigners other than those mentioned in the preceding two subparagraphs who are permitted to reside permanently in accordance with the relevant provisions of the Immigration Act and are employed in Taiwan.
ROC nationals and persons referred to in subparagraphs 2 through 4 of the preceding paragraph who satisfy any one of the following statuses may voluntarily make payments for and claim a pension in accordance with the Act:
1.Employers who actually engage in labor work;
2.Self-employed operators;
3.Commissioned workers;
4.Workers not designated under the Labor Standards Act.

Employees, who were covered by the Labor Standards Act prior to the enforcement of the Act and still work for the same business entity after the enforcement of the Act, may choose to be continuously covered by the retirement mechanism in the Labor Standards Act; provided, however, that if they resign from their current jobs and are re-employed, they shall be subject to the pension system of the Act.
A civil servant also with employee status, who continues working at a business entity that was formerly public-owned but has been privatized after the enforcement of the Act, may choose the retirement mechanism prescribed in the Labor Standards Act or the pension system of the Act.

The pension system of this Act shall apply to the following persons from the date specified in the following subparagraphs:
1.Persons referred to in subparagraphs 2 and 3 of Paragraph 1, Article 7 and workers who have obtained ROC citizenship after July 1, 2010, shall be covered by the pension system of this Act from the date when the amended articles came into effect on December 31, 2013.
2.The persons referred to in subparagraph 4 of Paragraph 1 of Article 7 shall be covered by the pension system from the date of implementation of the provisions amended by the Act on April 26, 2019.
3.In accordance with the preceding two subparagraphs, persons who meet the identifying criteria as designated by the amendments shall be covered by the pension system from the date they attain such an identity.
However, this shall not apply to persons designated by the preceding paragraph who were hired prior to the enactment of the amended articles and have remained employed by the same business entity thereafter, as well as those who notify their employers in writing, within six months from the date of implementation of this Act, that they shall continue to be covered by the pension regulations of the Labor Standards Act.
Those who have notified their employers in accordance with the preceding paragraph that they will continue to be covered by the pension regulations of the Labor Standards Act may not choose to be covered by the pension system of this Act.
For workers who are eligible in accordance with Paragraph 1 of the pension system of this Act, their seniority prior to the applicability of this Act shall be determined in accordance with Article 11.
Employers shall file for deposit and payment procedures with the Bureau of Labor Insurance for their workers who are eligible in accordance with Paragraphs 1 and 2 of the pension system of this Act. Filing of such request shall not be made later than 15 days from the specified deadline in Paragraphs 1 and 2.

Within the period from the promulgation of the Act to one day prior to the enforcement of the Act, employers shall inquire in writing with their employees about their options between the pension system of the Act or retirement mechanism in the Labor Standards Act; employees who have not made a firm decision after the expiration of prescribed period shall continuously be covered by the retirement mechanism in the Labor Standards Act on the date of enforcement of the Act.
Employees, who continuously choose to be covered by the retirement mechanism in the Labor Standards Act on the date of enforcement of the Act, may within five years choose to be covered by the pension system in the Act.
Employers shall in accordance with the following provisions file the application for contribution to the Bureau for employees covered by the pension system in the Act:
1.For those who choose to be applicable in accordance with Paragraph 1, the application shall be filed within 15 days after the enforcement of the Act.
2.For those who choose to be applicable in accordance with Paragraph 1, the application shall be filed within 15 days on the date of their choice.
3.For business entities that are newly established after the enforcement of the Act, the application shall be filed within 15 days on the date of their establishment.

Once employees are covered by the pension system of the Act, they no longer have the option to be covered by the retirement mechanism of the Labor Standards Act.

Employees, who were covered by the Labor Standards Act prior to the enforcement of the Act, who still work for the same business entity after the enforcement of the Act and choose to be covered by the pension system of the Act, their seniority prior to their application to the Act shall be reserved.
When a labor contract is terminated in accordance with Article 11, the proviso of Article 13, Article 14, Article 20, Article 53 and Article 54 of the Labor Standards Act or Article 23 and Article 24 of the Protection for workers Incurring Occupational Accidents Act, an employer shall in accordance with the foresaid statutes use the average wage at the time of the labor contract’s termination to calculate the severance or retirement payment for an employee’s reserved seniority referred to in the preceding paragraph, and the severance or retirement payment shall be paid within 30 days after the termination of the labor contract.
During the continuing period of a labor contract, when an employer and an employee mutually agree to provide payment based on an employee's calculated seniority, as referred to in Paragraph 1, such a payment shall amount to no less than the payment prescribed by Article 55 or Article 84-2 of the Labor Standards Act, and such an agreement shall be upheld.
A civil servant also with employee status shall on the date of privatization claim retirement payments for their seniority prior to the privatization in accordance with relevant statutes and regulations covered by retirement prior to the privatization. However, the remaining civil servants shall suspend their monthly pension payments and related rights until they leave the privatized enterprise.

When workers who are covered by the pension system of this Act and whose seniority is applicable after this Act is implemented, are terminated by labor contract in accordance with Article 11, the proviso of Article 13, Article 14 and Article 20 of the Labor Standards Act or Article 23 and Article 24 of Protection of Workers Suffering from Occupational Injuries and Diseases Act, they shall have their severance pay paid by the employer based on their seniority: an amount equal to half a month of average wages for every full year of employment, and in proportion for a period of employment lasting less than one full year; the foresaid severance shall not exceed more than six months of average wages, and is not covered by Article 17 of the Labor Standards Act.
Severance pay calculated pursuant to the preceding paragraph shall be paid within 30 days after the termination of a labor contract.
Workers choosing to continue to be covered by the pension regulations of the Labor Standards Act shall have their severance paid in accordance with Article 17, Article 55 and Article 84 of the Labor Standards Act.

For protecting employees' retirement payment, employers shall precisely calculate the appropriation rate of labor retirement reserve funds in accordance with such factors as the number, wages, seniority and turnover rate of those employees who are covered by the retirement mechanism in the Labor Standards Act and reserve their seniority prior to the application of the Act, and shall continuously appropriate labor retirement reserve funds sufficiently for each month in accordance with Paragraph 1 of Article 56 of the Labor Standards Act for five years to provide for employees' retirement payment.
When an employer and an employee agree to pay off the retirement payment in accordance with Paragraph 3 of Article 11, it may be paid from the labor retirement reserve fund account established in accordance with Paragraph 1 of Article 56 of the Labor Standards Act.
The retirement payments that shall be given to employees in accordance with Paragraph 4 of Article 11 shall be handled pursuant to Article 9 of the Act of Privatization of Government-Owned Enterprises.

The amount of labor pension borne by the employer pursuant to Article 7, Paragraph 1 shall not be less than six percent of the worker's monthly wage.
The amount of labor pension borne by the employer for staff governed under Article 7, Paragraph 2, subparagraph 3 or 4 may be within six percent of the worker's monthly wage.
Persons designated by Article 7 may voluntarily deposit pension funds within six percent of their monthly salary. The voluntarily paid pension is not included in the tax on the annual salary.
Persons designated by subparagraph 1 through 3 of the second paragraph of Article 7 may voluntarily submit pension deposits within six percent of their monthly income from professional practice. The voluntarily paid pension is not included in the tax on the annual income from professional practice.
The monthly wage set out in Paragraphs 1 to 3 and the monthly income from professional practice mentioned in the preceding paragraph with the Monthly Contribution Classification Table shall be provided by the central competent authority and submitted to the Executive Yuan for approval.

Those hired by the same employer or those who voluntarily contribute to their labor pension in accordance with Article 7, Paragraph 2 or Paragraph 3 of the preceding Article may adjust their contribution rate within one year, however such adjustments shall be limited to two times. Upon adjustment, the employer shall fill out a contribution rate adjustment form and submit it to the Bureau before the end of the month that the adjustment is made, and the adjustment shall become effective on the first day of the month following the submission; the contribution rate shall be counted to the first decimal point of a percentage.
For workers whose wages are adjusted between February to July of the current year, the employer shall notify the Bureau of the monthly contribution wage after adjustment by the end of August of the current year; when the adjustment is made between August of the current year to January of the following year, notification to the Bureau shall be made by the end of February of the following year; All adjustments shall become effective from the first day of the following month after the notification.
When an employer files a falsified monthly contribution wage for workers designated by Article 7, Paragraph 1 or fails to adjust the monthly contribution wage in accordance with the preceding paragraph, the Bureau may take the liberty to correct or adjust after verification and notify the employer concerned. The correction or adjustment shall become effective retroactively from the date contribution payments began or from the first day of the following month following the supposed adjustment.

An employer shall contribute to the labor pension of an employee from the first date of employment to the date that the employee resigns; however, if an employee chooses to be covered by the pension system in the Act from the date of its enforcement, his/her contribution shall be made from the date they decide to be covered by the pension system in the Act until their date of resignation.

For those who voluntarily contribute to the labor pension in accordance with Article 7, Paragraph 2, their employers or self-employed operators shall file with the Bureau to commence or terminate the contribution, and shall deduct, collect and make the contribution on a monthly basis.
Those who voluntarily contribute to the labor pension referred to in the preceding paragraph shall contribute from the filing date of voluntary contribution to the filing date of termination.

An employer shall make and file a list with the Bureau within seven days from the date an employee commences his/her job, resigns, is reinstated, or dies, to process the commencement or termination of pension contributions.

The Bureau shall prepare and mail a payment statement of the amount of labor pension that an employer shall contribute and collect, to the business entity prior to the 25th of the following month; the employer shall make the contribution prior to the end of the next calendar month after the month in which they receive the payment statement.
For employees who voluntarily contribute to their labor pension, the employer shall collect their voluntarily contributions, along with the portion contributed by the employer, and notify the Bureau of the contributions. Their contributions shall be made from the filing date of voluntary contribution to the date of resignation or the filing date of termination.
If an employer fails to contribute within a given period or contributes an insufficient amount, the Bureau shall notify the employer to contribute the necessary funds within a specified period.
Labor pension funds contributed by self-employed operators shall be made through an automatic transfer service of a banking institution designated by the Bureau; the Bureau will not mail a separate payment statement.

An employer shall apply and report in writing to the Bureau any termination of contributions to a pension fund within seven days from the date an employee goes on leave without pay, begins military service, is suspended from duties because of a lawsuit or is detained prior to a final judgment of the court. The employer shall apply and report in writing to the Bureau before recommencing contributions to a pension fund once an employee is reinstated.
When an employer is required to make up the wages for a reinstated employee for the period of suspension from duties because of a lawsuit or detention, the employer shall make up the contribution to the pension for such a period by the end of the month marking two months after the month the employee was reinstated.

The amount of contributions made by the employer shall be made known to the workers via a printed monthly notice.
The employer shall have on file a worker roster that includes information on the dates when employment commenced, dates of resignation, attendance records, wages, monthly contribution records and other related information; such information shall be preserved for five years after the date a worker resigns.
For workers choosing to be covered by the pension system in accordance with this Act, the preservation of their related documents shall be handled according to the provisions in the preceding paragraph.

Deleted

The labor pension shall be paid and calculated as follows:
1.For monthly pension payments, the principal and accrued dividends from an employee's individual labor pension account are to be paid in fixed installments. The amount of each installment shall be calculated based upon the Terms Life Chart of Annuity, average life expectancy, interest rate and other factors.
2.For lump-sum payment upon retirement, the principal and accrued dividends from an employee's individual labor pension account are to be claimed in a lump sum at one time.
The return rate generated from the utilization of employees' pension contributed in accordance with the Act shall not be less than the interest rate of a two-year fixed term deposit by local banks; in the event of any deficiency, the Treasury shall make up the shortfall.
The Terms Life Chart of Annuity, average life expectancy, interest rate and calculation of the amount referred to in subparagraph 1 of Paragraph 1 shall be prescribed by the Bureau and submitted to the central competent authority for approval.

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 who have selected an option for payment, after the Bureau has approved their preferred option of payment, changes cannot be made.
Seniority referred to in Paragraph 1 shall be calculated based upon the period in 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 covered by the Labor Standards Act shall claim for pension only when he／she meets the requirement prescribed in Paragraph 1.

Workers who continue to work after having received their pension, their subsequent seniority shall be reset. Employers shall continue to contribute to the labor pension fund in accordance with this Act. The number of times a worker may receive the reset pension or related dividends shall be limited to once a year.

Workers who are under sixty years of age and whose seniority exceeds fifteen years may claim for a monthly pension or a lump-sum pension if any of the following situations applies. However, workers whose seniority is less than fifteen years may only claim for a lump-sum pension:
1.Receiving disability pension or lump-sum disability payment for Level 3 and above disabilities as prescribed in the Labor Insurance Act.
2.Receiving mental/physical disability pension or mental/physical disability basic guaranteed pension as prescribed in the National Pension Act.
3.A insured worker is not described by the preceding two subparagraphs but meets criteria for the type, condition and level of disability eligible for claiming disability pension or lump-sum disability payment as prescribed in Subparagraph 1, or the type, condition and level of mental/physical disability eligible for claiming mental/physical disability pension or mental/physical disability basic guaranteed pension as prescribed in the preceding subparagraph.
Workers claiming for monthly pension in accordance with the preceding paragraph may on their own decide the number of years for which they are eligible to claim a pension.

When a worker starts to receive the monthly pension payment, he/she shall pay a one-time premium for annuity insurance to cover his/her annuity benefits if he/she lives beyond the average life expectancy as prescribed in Paragraph 3 of Article 23.
The amount of premium, contribution procedures and qualifications of the insurer(s) of annuity insurance referred to in the preceding paragraph shall be prescribed by the central competent authority.

If a worker dies before claiming pension, his/her survivors or designated person(s) shall claim for the lump-sum payment which would have been claimed upon the worker’s retirement.
If a worker, who has received the monthly pension payment, dies before he/she reaches the average life expectancy prescribed in Paragraph 3 of Article 23 or the number of years for claiming the pension prescribed in Paragraph 2 of Article 24-2, the monthly pension payment shall be terminated. The residual amount in his/her individual labor pension account shall be calculated and paid to his/her survivors or designated person(s).

The orders of survivors who may claim the pension in accordance with the preceding Article are as follows:
1. Spouse and children.
2. Parents.
3. Grandparents.
4. Grandchildren.
5. Siblings.
If there is more than one person in any of the above orders, they shall jointly claim the pension; otherwise, the one who claims the pension shall distribute such a pension between or among the survivors in the same order. In the event of death, waiver of inheritance, or disqualification of heirs due to legal reasons, the pension shall be claimed by other survivors. However, if a living will is made to designate a claimant for the pension, such a will shall be complied with.
If a deceased worker falls under the following criteria, the principal and the return accrued in his/her individual labor pension account shall belong to the Fund:
1. No survivors as listed above or designated claimants.
2. The surviving family member as listed above or the designated claimant becomes ineligible due to statute of limitations.

A worker, his/her survivor(s), or his/her designated person(s) shall file and submit an application and relevant documents to the Bureau to claim for the pension; the application procedures and documents required shall be prescribed by the Bureau.
When the application procedures have been completed and if the monthly pension payment is approved, the payment shall be made on a quarterly basis from the month following the receipt of the application; if the lump-sum retirement payment is approved, the payment shall be made thirty days from the day of receiving the application.
The basis of calculating the final amount of pension to be claimed by a worker, his/her survivor(s) or his/her designated person(s) shall be prescribed by the central competent authority.
A worker’s surviving family member, as listed above, or a designated claimant’s right to request a pension shall be forfeit if not exercised within ten years from the date a survivor or claimant becomes eligible to claim the pension.

A worker’s pension and their right to claim the pension shall not be assigned, offset, mortgaged, or held as a financial security.
Applicants claiming a monthly pension pursuant to this Act shall open a specific account with the documents provided by the Bureau at a financial institution for the deposit of their monthly pension.
Deposits in the specific account of the preceding paragraph shall not be the object of offset, mortgage, a security holding or compulsory execution.

An employer shall not deduct contribution made by him/her from an employee's wage as compensation or ask an employee to refund the contributions made when the employee resigns. If there is an agreement that an employee shall compensate or refund the contributions made upon resignation, the agreement shall be null and void.

When an employer fails to contribute to the pension on a monthly basis or in full for an employee in accordance with the Act and causes damages to the employee, the employee shall claim damages from the employer.
The right for an employee to file the claim referred to in the preceding paragraph shall be forfeit if such a right is not exercised within five years from the date of resignation.

Sources of the Fund are as follows:
1.Pension deposits in employees' individual accounts.
2.Profits from utilization of the Fund.
3.Late payment charges.
4.Other revenue.

The Labor Pension Fund, besides being used for paying workers' pensions and investment, shall not be offset, mortgaged, held as a financial security, or used for other purposes. Regulations concerning the management, utilization and profit/loss allocation thereof shall be prescribed by the central competent authority and submitted to the Executive Yuan for approval.
The management, operation and utilization of the labor pension fund are handled by the Bureau of Labor Funds, MOL (hereinafter referred to as the Bureau of Labor Funds). For the operation and utilization of the fund, the Bureau of Labor Funds may entrust its management to financial institutions. The regulations, scope and funds for entrusted operations shall be determined by the Bureau of Labor Funds and reported to the central competent authority for approval.

The Bureau of Labor Insurance and Bureau of Labor Funds shall establish independent accounts for handling the revenues and expenditures of the labor pension and the Fund, and shall handle them separately from its other business; the Bureau shall prepare relevant accounting reports and final financial settlements in accordance with related statutes and regulations to be collected by the Bureau of Labor Funds, and then submitted to the central competent authority for future reference.
The report concerning revenues, expenditures, utilization, the accumulated amount of the Fund and financial statements shall be submitted on a monthly basis to the Supervisory Committee by the Bureau of Labor Funds for review and then submitted by the Supervisory Committee to the central competent authority for record and reference, and the central competent authority shall publicly release reports on a yearly basis.

A business entity with over 200 workers may, with the consent of a labor union or with the approval of labor-management conference when no labor union exists, insure with the Annuities Insurance pursuant to the Insurance Act for workers who choose in writing to insure with the Annuities Insurance.
In the case of workers choosing to insure with the Annuities Insurance of the preceding paragraph, the employer is not required to contribute to labor pensions in accordance with Article 6, Paragraph 1.
Regulations concerning revenues, expenditures, approval and other related matters of compliance of the Annuities Insurance referred to in Paragraph 1 shall be prescribed by the central competent authority. Business entities adopting the Annuities Insurance referred to in the preceding paragraph shall file with the central competent authority for approval.
The average return rate of Annuities Insurance referred to in Paragraph 1 shall not be less than the rate prescribed in Article 23.

The insurer shall, in accordance with insurance laws and regulations, set up a designated account to record the value of their investment assets.
Upon death of a worker who has no designated beneficiary(ies) or survivor(s), the principal and accumulated returns of their pension payment of Annuities Insurance shall be subsumed as assets of the designated account for Annuities Insurance.

Workers who are covered by this Act working in business entities that implement the Annuities Insurance scheme may, at the limit of one time per year, change their original applicable pension mechanism to their individual pension account or Annuities Insurance scheme. The pension or premium of annuity insurance already contributed or paid shall be continuously reserved. The employer concerned shall file the appropriate application form with the Bureau and the insurer within fifteen days from the date a worker declares in writing their decision to switch pension payment mechanisms.

The premium per month by an employer provided to the Annuities Insurance program may not be less than six percent of a worker's monthly wage.
The insurer shall prepare and mail a payment statement listing the amount of premium the employer shall pay and the amount provided by a worker who voluntarily pays, as described in the preceding paragraph, to the business entity prior to the 25th day of the following month, and the employer shall pay prior to the end of the next calendar month, after the month in which they receive the payment statement. Prior to the seventh day of the month that follows the payment due date, the insurer shall inform the Bureau of the situation of premium collection notifying the Bureau of the amount an employer should have paid.
Workers who voluntarily pay the premium to their Annuities Insurance plan, shall have the premium collected by their employers along with the portion paid by their employers to the insurer. Payment shall be made from the filing date of voluntary payment to the date of resignation or the filing date of termination.
If an employer fails to pay within a given period or makes insufficient payment, the insurer shall immediately collect the overdue receivables and within a given period notify the employer of the amount to be paid prior to the end of month following the original payment due date. A report on overdue receivables shall then be delivered to the Bureau prior to the seventh day of the next calendar month.

An employer shall be the proposer of an Annuity Insurance contract, and an employee shall be the insured and the beneficiary. A business entity can only purchase annuity insurance from a single insurer. Qualifications of the insurer shall be jointly prescribed by the central competent authority and the insurance authority.

When a worker has resigned and becomes re-employed, the new employer shall be their proposer of the Annuities Insurance contract and shall continue to pay the premium. When the contribution rate to the Annuities Insurance premium born by the new employer and the previous employer is not the same, the worker shall be responsible for the difference. However, the foresaid provision shall not apply if the new employer is willing to pay the difference.
If the new employer of the worker referred to in the preceding paragraph does not purchase the Annuities Insurance, they shall contribute to the labor pension account according to Article 6, Paragraph 1. Unless a separate agreement between the employer and the worker is made, the worker shall be responsible for the full amount of the premium of the Annuities Insurance plan. When the worker cannot pay the premium, the continuity of the Annuities Insurance contract shall be dealt with in accordance with the Insurance Act and the foresaid insurance contract.
When a worker referred to in Paragraph 1 has resigned and becomes re-employed, they may choose to have the new employer contribute to their labor pension account in accordance with Article 6, Paragraph 1.
When a worker is covered by different pension mechanisms after resigning and gaining re-employment, and if they choose to transfer the reserved policy value of the Annuities Insurance to their individual pension account or transfer the principal and accumulated returns in their individual pension account to Annuities Insurance plan, the full amount shall be transferred. The period for depositing pension funds that they have contributed shall not be less than four years.

Articles 7 to 13, Paragraphs 2 to 5 to Article 14, Article 15, Article 16, Article 20, Article 21, Article 24, Article 24-1, Article 24-2, Paragraph 1 and Paragraph 2 to Article 27, and Articles 29 to 31 shall apply, mutatis mutandis, to the Annuities Insurance program prescribed in this Chapter.

The competent authorities, labor inspection agencies or the Bureau charged with protecting worker interests may, if necessary, check and verify the name list of employees and other relevant information and materials of business entities.
A worker may, upon discovering any violation of the Act by the employer, file a complaint with the employer, the Bureau, labor inspection agencies or the competent authorities; an employer shall not take any unfavorable measure against the worker who files such a complaint.

A financial institution that is commissioned to utilize the Fund shall report to the Bureau of Labor Funds any undue interference, manipulation, instruction to utilize, or other situations detrimental to worker benefits. As the Bureau of Labor Funds deems it as necessary, they shall notify the central competent authority to take necessary measures.

Any person working for the competent authorities, the Supervisory Committee, the Bureau of Labor Insurance, and the Bureau of Labor Funds or other relevant agencies or organizations shall refrain from disclosing confidential information obtained while performing his/her duties or seeking illegal profits. Such persons shall perform fiduciary duties with prudence to ensure the maximal economic benefit for Labor Funds.

The Bureau of Labor Insurance and Bureau of Labor Funds shall prepare the budget to meet expenses required for the Supervisory Committee and the Bureau shall administer its implementation as prescribed in the Act.

All account records, receipts, revenue and expenditures for the Bureau of Labor Insurance and the Bureau of Labor Funds pertaining to business prescribed in the Act shall be exempted from taxation.

If the commissioned financial institution, which is in violation of Paragraph 2 of Article 33 and found to have utilized the Fund in items other than those of specified investment and utilization, the institution shall be fined no less than N.T.$2,000,000 but no more than N.T.$10,000,000, and the central competent authority shall also order it to refund any amount misused with interest accrued within a given period.

Should an employer commit the following offenses, they shall be fined between N.T.$300,000 and N.T.$1.5 million. This fine shall be paid within a designated time period. Those who have not paid by the deadline shall be punished accordingly:
I. Violation of the criteria or allotted period for the provisions of Article 11, Paragraph 2 or Article 12, Paragraphs 1 and 2.
II. Violation of the criteria or allotted period for the use of Article 11, Paragraph 2 or Article 12, Paragraphs 1 and 2, in violation of Article 39.

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 no more than 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.

Deleted

When a business entity is in violation of Article 40 by refusing to provide information and materials or by taking any unfavorable measure against an employee who files a complaint, it shall be fined no less than N.T.$30,000 but no more than N.T.$300,000.

When an employer violates Article 8-1, Article 9, Article 18, Paragraph 1 of Article 20, Paragraph 2 of Article 21, Article 35 or Article 39, and fails to file the application for contribution, fails to file the application for termination of contribution, fails to prepare the worker roster or preserve documents, they shall be notified to improve within a given period; failure to improve by the end of given period shall result in a fine of no less than N.T.$20,000 but no more than N.T.$100,000. The fine shall be consecutively imposed on a monthly basis until the date of correction.

Should an employer violate Article 13, Paragraph 1 and fail to continuously appropriate employee salary for to the labor pension reserve fund each month, they shall be fined no less than N.T.$20,000 but the fine shall not exceed N.T.$300,000. The fine shall be imposed consecutively on a monthly basis. The fine prescribed in Article 79, Paragraph 1, subparagraph 1 of the Labor Standards Act shall not apply.
If the competent authority fails to impose a fine in accordance with the preceding paragraph, the personnel concerned shall be subject to relevant penal provisions prescribed by the statutes and regulations for the evaluation of civil servants.
The fines collected in accordance with Paragraph 1 shall be put into the Labor Retirement Fund referred to in Article 56, Paragraph 3 of the Labor Standards Act.

When an employer is in violation of Article 30 or Article 39, and deducts wages of employees, he/she shall be fined no less than N.T.$10,000 but no more than N.T.$50,000.

When an employer is in violation of Paragraph 2 of Article 15, Paragraph 1 of Article 21, or Article 39, and fails to file the application or properly notify the competent authority, he/she shall be fined no less than N.T.$ 5,000 but no more than N.T.$ 25,000.

Should an employer violates Paragraph 1 of Article 14, Paragraph 1 of Article 19, or Paragraph 2 of Article 20, and thereby fails to contribute within the allotted time or fail to contribute the full amount of funds for labor pension, they shall be required to pay a late payment charge at three percent of the amount of the stipulated contribution, compounded on a daily basis beginning from the day following the date of expiration of the originally designated time period, and lasting until the day preceding the settlement date; however, the amount of such a fee shall not exceed the amount of the original stipulated contribution.
Should an employer fails to contribute to the labor pension accounts referred to in the preceding paragraph, if they have been notified by the Bureau of Labor Insurance to contribute within a given period but fail to do so by the end of the designated period, they shall be referred to the Administrative Enforcement Agency for compulsory execution in accordance with related statutes. If the employer refuses to comply, they may apply for administrative remedy in accordance with related statutes.
Should an employer violate Article 36 and Article 39, and fail to contribute within the allotted time or contribute the full amount of a stipulated premium, they shall be fined an amount equal to the amount of said premium and fined consecutively on a monthly basis until the date the contribution is correctly settled.
Paragraphs 1 and 2 shall become effective retroactively on July 1, 2005.

If an employer violates these regulations and is ordered to pay a fine or late payment charge imposed by the competent authority or the Bureau of Labor Insurance, the name of the institution or business owner, the name of the person in charge, the date of the disposition, the violation of the provisions and the amount of the disposition shall be made public; The same applies to those who have been fined according to Article 45.

Late payment charges and fines imposed in accordance with the Act shall be paid within thirty days after the date that the violator receives notification; if they are not paid within the designated period, the violator shall be referred to the Administrative Enforcement Agency for compulsory execution in accordance with related statutes.
The responsibility of imposing fines and the transference of duties for administrative execution concerning the annuity insurance program, prescribed in Article 39, shall be entrusted to the Bureau for handling.

Should an employer fail to pay the pension or late payment charge according to the provisions of this Act, and no assets are available for seizure or the assets are insufficient for repayment, the representative or the responsible person shall be liable for liquidation.
After such a representative or person in charge has been notified by the Bureau of Labor Insurance and ordered to pay a fine or late payment charge, any person unable or unwilling to pay the designated amount will be transferred to the Administrative Enforcement Agency for administrative execution according to law.

If the representative or any other staff member of a legal entity, the agent of a legal entity or a natural person, an employee or any other staff member violates the Act in the rendering of their respective services, the violator shall be punished pursuant to this Chapter; in addition, the legal entity itself or the natural person shall also be subject to punishment by such fine or administrative fine as prescribed in the respective articles of the Act; unless the representative of the legal entity or the natural person has done his/her best to avoid the occurrence of the violation.
The representative of a legal entity or the natural person shall be deemed as an offender, if he/she instigates or ignores such a violation.

When a business entity must cease operations due to division, merger/acquisition, or transfer, the succeeding business entity shall be strictly liable for any labor pension payments which the previous entity fails to contribute.

The Bureau of Labor Insurance shall pay off ordinary pensions in the case of pensions and late payment charges which an employer has failed to pay, in accordance with this Act.

The following provisions shall not apply to the labor pension system:
I. The Company Act provisions regarding debt relief for company restructuring.
II. Debt Disclaimer for Liquidation in Statute related to Consumer Debt Clearance.
III. The Bankruptcy Act's debt relief provisions for bankruptcy.

The Bureau of Labor Insurance may request from any relevant authorities information necessary for the labor pension business, and the various agencies may not refuse.
The information obtained by the Bureau of Labor Insurance in accordance with the provisions of the preceding paragraph shall be handled with due diligence. The possession, handling and use of related materials shall be governed by the Personal Information Protection Act.

The enforcement rules of the Act shall be prescribed by the central competent authority.

This Act shall become effective after one year from the date of promulgation.
The amended articles in this Act, with the exception of those promulgated on different dates, shall become effective from the date of promulgation.