In order to take care of employees' retirement life, promote labor-management relations and improve work efficiency, the company has established a Labor Retirement Reserve Supervision Committee in accordance with the law. The committee will supervise the storage and expenditure of this fund, and set aside 4% of the total monthly salary for retirement reserves in accordance with regulations. The funds are deposited in a special account at the Bank of Taiwan Co., Ltd. The new labor retirement system has been implemented in accordance with the law since July 1, 2005. Employees who are subject to the new system are required to contribute 6% of their monthly salary as pension, which will be deposited in the labor pension individual account established by the Labor Insurance Bureau. In 2023, our company The total amount of pension provision is NT$13.69 million.
Voluntary retirement：work over 15 years and reach age55, or work over 25 years, or work over 10 years and reach age 60.
Mandatory retirement：staff who reaching age 65 , physically disabled for work, the company can perform mandatory retirement.
Standards Act：Two bases will be awarded for each year of service. For those with more than 15 years of service, a base number will be given for each completed year, up to a maximum of forty-five base numbers. If it is less than half a year, it will be counted as half a year, and if it is more than half a year, it will be counted as one year. For any compulsorily retired worker whose mental loss or physical disability is caused by the performance of his duties, his pension base shall be increased by 20% in accordance with the provisions of the preceding paragraph.
Labor Pension Act：For those who chose the new system after July 1994, their seniority before the reform was calculated according to the old system, and after the reform their seniority was calculated according to the new system.
