III. Governing laws:
(1)Private School Retirement & Compensation Fund:Act Governing the Retirement, Bereavement Compensation, Discharge with Severance Pay Benefits for the Teaching and Other Staff of School Legal Persons and their Respective Private School(s)
(2)Public Insurance of Retired Civil Servants: Government Employees' & School Staffs’Insurance Act
§ According to the Ministry of Education (MOE), the Retirement & Compensation Fund for Private Schools has been engaging in autonomous investment for more than 10 years, starting March 1, 2013. To provide a better retirement plan for private school faculty and staff members, the MOE released a fourth type of investment portfolio, the “Life-Cycle Fund”, on September 28, 2017; this was in addition to the current “conservative”, “steady growth” and “aggressive” investment portfolios. Life-Cycle Fund’s investment strategy aims to reduce the allocation of higher-risk assets as the investor ages. Thus this strategy automatically adjusts the allocation of the three types of investment portfolios according to the investors’ (private school teachers and staff members) age: “aggressive at a younger age, steady growth in middle age, and conservative near retirement.” Moreover, this retirement plan has a guaranteed remuneration mechanism that protects the rights and interests of private school teachers and staff members.
The life-cycle fund is defined by INVESTOPEDIA as: "A special category of balanced, or asset-allocation, mutual fund in which the proportional representation of an asset class in a fund's portfolio is automatically adjusted during the course of the fund's time horizon. The automatic portfolio adjustment runs from a position of higher risk to one of lower risk as the investor ages and/or nears retirement."
Should you have further questions, please contact Chinatrust Commercial Bank (CTBC) customer service below.
CTBC CLIENT SERVICES
· CTBC's client service time is Weekdays from 9:00 to 17:30
· E-banking and Accounts Inquiries 02-2558-0128
· Fund Management Committee for Private Schools Faculties 02-2396-2880
· Investment Consulting 02-2706-0759 (psf@mail.citfund.com.tw)
· Online service https://ecorp.ctbcbank.com/cts/loginAction.do
§ Promotional Video-Voluntary pension contributions(English version released on September 28, 2023)
§ Promotional Video-Protecting the family(English version released on September 28, 2023)
III. Governing laws:
(1)Labor Retirement Fund(The Old Fund): KMU Regulations Governing Retirement, Severance, and Bereavement Compensation for Labors
(2)Labor Pension Fund(The New Fund): Labor Pension Act
(3)Old-Age Benefits of Labor Insurance: Labor Insurance Act
· Labor Pension-the new labor pension system (Data source: Bureau of Labor Insurance Website)
§ applies to project personnel
§ Characteristics of the New Labor Pension System
Person in Charge and Extension：Chen, Ya Wen (2066, 2104)
