(1) In cases of abolition of a retirement pension plan or suspension of its operation, the retirement allowance system under Article 8 (1) shall be applied to the period after the abolition or during the period of the suspension.
(2) If a retirement pension plan is abolished, the employer shall take measures prescribed by Presidential Decree as necessary to pay benefits from reserves, including payment of the contributions in arrears without delay.
(3) If a retirement pension plan is suspended due to the grounds prescribed in Article 35 (2), etc., the employer and the retirement pension trustee shall continue to perform the basic duties prescribed by Presidential Decree, such as duties necessary for the operation of reserves.
(4) Where the benefits are to be paid to each participant due to the abolition of a retirement pension plan, they shall be paid by the employer and the retirement pension trustee in the way of transfer to the account of the individual retirement pension plan designated by each participant: Provided, That Article 17 (5) shall apply mutatis mutandis where any participant fails to designate an account of an individual retirement pension plan.
(5) If a participant is paid benefits under paragraph (4), he or she shall be deemed paid benefits by the interim settlement as prescribed in Article 8 (2). In such cases, calculation of the period subject to the interim settlement and other necessary matters shall be prescribed by Presidential Decree.