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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 23-8 (Establishment of Participant Contribution Account of SME Retirement Pension Fund Plan)

근로자퇴직급여 보장법 제23조의8

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.

Any of the following persons who are participants of the SME retirement pension fund plan may establish a contribution account in the name of the participant (hereinafter referred to as "participant contribution account of fund plan"). In such cases, the COMWEL shall manage the participant contribution account separately from the employer contribution account of fund plan:

1. A person who intends to receive the benefits under the SME retirement pension fund plan in a lump sum;

2. A person who intends to pay additional contributions at his or her own expense (hereinafter referred to as "participant contributions") other than employer contributions.[This Article Newly Inserted on Apr. 13, 2021]

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