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Laws › Act on the Guarantee of Employees' Retirement Benefits › CHAPTER IV-2 SME RETIREMENT PENSION FUND PLAN

Act on the Guarantee of Employees' Retirement Benefits — Article 23-15 (Responsibilities of COMWEL)

근로자퇴직급여 보장법 제23조의15

This English translation is based on the Korean text effective 2022-07-12. The Korean law has since been amended (current version effective 2026-09-18) — check the Korean original.

(1) The COMWEL shall provide training to the participants of the SME retirement pension plan fund at least once every year on the matters prescribed by Presidential Decree, such as the operational status of the SME retirement pension fund plan.

(2) The COMWEL shall publish the details of performance, management status, return rate, etc. of the SME retirement pension fund plan each year, as prescribed by Presidential Decree.

(3) If the details of the standard contract of SME retirement pension fund is modified, the COMWEL shall notify the employer and participants of such modification, as determined by the Minister of Employment and Labor.

(4) Article 33 (1) through (4) shall apply mutatis mutandis to other matters regarding the responsibilities of the COMWEL. In such cases, "retirement pension trustee" shall be construed as "COMWEL", "terms and conditions of a contract under Articles 28 (1) and 29 (1)" as "terms and conditions of a contract under Article 23-5 (1)", and "refusing to conclude a contract to provide operational management services under Article 28 (1)" and "refusing to conclude a contract to provide asset management services under Article 29 (1)" as "refusing to conclude a contract under Article 23-6", respectively.[This Article Newly Inserted on Apr. 13, 2021]

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