Retirement System and Implementation

To ensure financial stability for employees after retirement, the company has established a retirement pension system in accordance with the Labor Standards Act and the Labor Pension Act. A Labor Pension Reserve Supervisory Committee has been established to manage pension reserves and ensure stable contributions and payments of employees’ retirement funds. The retirement pension standards are as follows:

Standards for Retirement Pension Benefits

For years of service applicable under the Labor Standards Act, the retirement pension is calculated as follows: for each year of service, two units of the base amount are granted. For service exceeding fifteen years, one unit of the base amount is granted for each additional year. The maximum total is capped at forty-five units. Service of less than six months is calculated as half a year, while service of six months or more is calculated as one year.

Labor Pension Act

For employees who, under the Labor Pension Act, choose to continue applying the retirement pension provisions of the Labor Standards Act or retain years of service prior to the implementation of the Act, their pensions will be granted in accordance with the above-mentioned rules.

Additional Allowance for Retired Employees

For employees who are covered by the Labor Standards Act retirement pension provisions and are mandatorily retired under Article 35, Paragraph 1, Subparagraph 2, if their mental or physical disability is caused by the execution of duties, an additional 20% will be granted based on the above-mentioned calculation.

Monthly Wage Contributions

For employees covered by the pension provisions of the Labor Pension Act the company contributes 6% of the employee’s monthly wage into their individual pension account. Withdrawals are governed by the regulations set by the competent authority.