Korean Law in English
Laws › Act on the Guarantee of Employees' Retirement Benefits › CHAPTER VI RETIREMENT PENSION TRUSTEES AND THEIR PERFORMANCE OF DUTIES

Act on the Guarantee of Employees' Retirement Benefits — Article 29-2 (Fees)

근로자퇴직급여 보장법 제29조의2

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) A retirement pension trustee shall reasonably determine the amount of fees that are receivable from employers and participants according to the performance of operational management services, asset management services, and other services prescribed by Presidential Decree, in consideration of expenses incurred in the performance of the relevant services, profits and losses incurred in the operation of the reserves, etc.

(2) The fees payable by employers and participants under paragraph (1) shall comply with the standards for imposition, etc. prescribed by Presidential Decree.

(3) The Minister of Employment and Labor may request a retirement pension trustee to submit data prescribed by Presidential Decree, such as the standards for imposition of fees, to protect a participant's entitlement to benefits.[This Article Newly Inserted on Jan. 11, 2022]

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