New Labor Pension Service Years Calculation
Q: | How many years of service calculated under the new labor pension system? |
A: |
Years of service are calculated based on the number of months during which retirement contributions were made. Even if contributions were made for just one day in a month, it is counted as one full month. If an employee has two jobs and both make contributions simultaneously, it is still counted as only one month. |
Q: | If I have changed jobs, can the years of service from different companies be combined? |
A: |
If you have participated in the new labor pension system at different companies, even though your years of service may have been interrupted, the contributions to the retirement fund from different companies can be combined for calculation. |
Q: | If an employee takes a year’s unpaid leave, will their years of service still be counted? |
A: |
During the period of unpaid leave, the employer stops contributing to the retirement fund, and that period will not be counted toward the employee’s years of service. However, if the employee is unable to work due to an occupational injury or illness, the employer is still required to continue contributing to the labor retirement fund, and the years of service will be counted as usual. |
Q: | If an employee continues to work after receiving their retirement pension, how should their years of service be calculated? |
A: |
If a worker receives their retirement pension under the new system and then continues to work, the employer is required to continue contributing to the worker’s retirement fund. The worker’s service years (for contributions) should be recalculated starting anew. |
Q: | Can a worker under the age of 60 with a severe physical or mental disability certificate (proof) and no ability to work apply for early withdrawal of the labor retirement pension? |
A: |
A worker under the age of 60 may apply for early withdrawal of the retirement pension if they meet any of the following three conditions:
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