(1) Retirement allowances that an employer is obligated to pay, benefits under a defined benefit plan prescribed in Article 15, delinquent contributions and interest for arrears on delinquent contributions under a defined contribution plan prescribed in Article 20 (3), delinquent contributions and interest for arrears on delinquent contributions under a SME retirement pension fund plan prescribed in Article 23-7 (1), and delinquent contributions and interest for arrears on delinquent contributions under an individual retirement pension plan prescribed in Article 25 (2) 4 (hereinafter referred to as "retirement benefits, etc.") shall be paid in preference to taxes, public charges, and other claims, except for claims secured by pledges or mortgages on the whole property of the employer: Provided, That this shall not apply to taxes and public charges taking precedence over pledges or mortgages. <Amended on Apr. 13, 2021>
(2) Notwithstanding paragraph (1), retirement benefits, etc. for the final three years of service shall be paid in preference to claims secured by pledges or mortgages, or to taxes, public charges, and other claims on the whole property of an employer.
(3) The amount of retirement allowances of the retirement benefits, etc. and the amount of benefits under a defined benefit plan as prescribed in Article 15 shall be a prorated amount equal to the average wages earned for 30 days for each year of continuous service.
(4) The amount of contributions under a defined contribution plan prescribed in Article 20 (1), contributions under a SME retirement pension fund plan prescribed in Article 23-7 (1), and contributions under an individual retirement pension plan prescribed in Article 25 (2) 2, out of retirement benefits, etc., shall be an amount equal to 1/12 of the total annual wages of the participant. <Amended on Apr. 13, 2021>