Labor Pension Act ( 2019.05.15 Modified )

  Chapter Ⅶ Supplementary Provisions

Article 56
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.
Article 56-1
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.
Article 56-2
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.
Article 56-3
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.
Article 57
The enforcement rules of the Act shall be prescribed by the central competent authority.
Article 58
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.
Data Source:Ministry of Labor / Law Source Retrieving System Labor Laws And Regulations