Article 2
Employers applying for contributing to labor pensions in accordance with Paragraph 1 to Article 6 of the Act are required to complete the Application for Labor Pension Contributions (hereinafter "the Application") and the Labor Pension Contributions Report (hereinafter "the Report") and shall submit each to the Bureau of Labor Insurance, Ministry of Labor (hereinafter "the Bureau ").
Those that are already participating in labor insurance or employment insurance are waived from completing the Application, and a serial number will be issued by the Bureau.
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Article 12-1
Before the implementation of the annuity insurance provided under Article 25 of the Act, for workers with seniority of at least fifteen years according to Paragraph 2 to the preceding Article and who choose monthly pension payments, the entire cumulative amount in their individual labor pension accounts shall be paid in accordance with Subparagraph 1 of Paragraph 1 to Article 23 of the Act. However, workers applying for monthly pensions in accordance with Paragraph 1 to Article 24-2 shall decide the length of time their monthly pensions are to be issued.
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Article 32
The profits from the utilization of employees’pension contributed in accordance with Paragraph 2 to Article 32 of the Act shall not be lower than the interest rate paid for a two-year fixed term deposit by local banks, and the average annual interest rate for the time period between the starting date of contribution until the legal date of pension collection shall not be lower than the average rate of interest paid for a two-year fixed term deposit by local banks for an equivalent length of time.
The interest rate of a two-year fixed term deposit by local banks mentioned in the preceding paragraph refers to the calculated annual average interest rate derived from the fixed interest rates on two-year deposits posted at the beginning of each month by the six major banks: the Bank of Taiwan Co., Ltd., First Commercial Bank of Taiwan Co., Ltd., Taiwan Cooperative Bank Co., Ltd., Hua Nan Bank Co., Ltd., Land Bank of Taiwan Co., Ltd.,and Chang Hua Bank Co., Ltd.
The Bureau of Labor Funds, Ministry of Labor (hereinafter "the BLF") shall announce on a monthly basis, the current month’s lowest guaranteed rate.
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Article 34
The sum of the dividends accrued at the moment an employee applies for pension payments, in addition to the dividends that have already been allocated into the pension account, dividends from any remaining unallocated periods will be allocated according to the nearest monthly rate of return announced by the BLF to calculate the dividends up to the month when the application is submitted.
The rate of return mentioned in the preceding paragraph shall be calculated to the fourth digit after the decimal point.
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Article 44
The Bureau in implementing Article 5 and Article 34 of the Act shall comply with final account book keeping requirements, submit a final accounting report, and shall also submit the following documents to the BLF on a monthly basis for the Central Competent Authority to review and record:
1. Statistical records showing the total sum of payment units, total number of payees, and total sum of wage payments.
2. Statistical record of disbursed pension payments.
3. Statistical record of acquired pension account payments.
4. Other documents required by the Central Competent Authority.
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