Retirement System and Implementation

In order to stabilize the life of employees after retirement, the company has formulated labor retirement methods according to law, and established a labor retirement reserve supervision committee, which is regularly allocated at a rate of 15% of the total salary every month Retirement reserves are deposited into the Bank of Taiwan's "Old System Labor Retirement Reserves" account to protect labor rights. From July 1, 1994, the government's new retirement system was adopted in parallel, and 6% of the total wages of the employees were paid monthly to the employee's personal pension account; The employee's monthly salary is withheld to the individual pension account of the Labor Insurance Bureau. The company applies the following regulations in accordance with the labor pension regulations:

(1) Self-retirement:

Workers may apply for retirement under one of the following circumstances: (Those who choose to apply the labor pension regulations shall follow the regulations)
1. Those who have worked for more than 15 years and have reached the age of 55.
2. Those who have worked for more than 25 years.
3. Those who have worked for more than 10 years and have reached the age of 60.

(2) Mandatory retirement:

The company shall not force employees to retire unless they fall under one of the following circumstances:
1. Those who have reached the age of sixty-five.
2. Lost in mind or physically disabled and unfit to work.
The age stipulated in Subparagraph 1 of the preceding paragraph may be adjusted by the company to the central competent authority for approval of workers with special characteristics such as dangerous and strong physical strength. But not less than fifty-five years old.

(3) Pension payment standard:

1. The working years before and after the application of the Labor Standards Act and the choice to continue to apply the pension provisions of the "Labor Standards Act" or to retain the job before the application of the Labor Pensions Act in accordance with the Labor Pension Act Seniority, the standard of pension payment shall be calculated according to Article 84-2 and Article 55 of the Labor Standards Act.
2. Employees who have the working experience in the preceding paragraph and are forced to retire in accordance with Article 35, Paragraph 1, Subparagraph 2, whose mental loss or physical disability is caused by performing their duties, shall be subject to Article 55, Paragraph 2 of the Labor Standards Act. A second paragraph provides for an additional 20 percent.
3. For employees who are subject to the pension provisions of the Labor Pension Act, the company will contribute 6% of their wages to the employee's personal pension account on a monthly basis.

(4) Pension payment:

The company shall pay the employee's pension within 30 days from the employee's retirement date.

(5) Retirement system and its implementation status:

The company has a retirement policy for employees, and has set up a pension management committee, with the chairman as the chairman. In order to ensure the rights and interests of employees in the company, the old system of pensions has been adjusted to 15% of the upper limit of the contribution amount of the old system of pensions since the 100th year of the Republic of China. Since June 110, after the inspection by the actuary, the contribution amount of the old pension was adjusted to 2% for contribution, and the company and the actuary jointly checked whether the old pension was sufficient every year. According to the Labor Standards Law and the Labor Pension Regulations, the new system of pension allocation is to allocate 6% of the retirement reserve and deposit it into the employee's personal pension account according to the regulations. The relevant pension implementation status shall be applied in accordance with the company's retirement work handover management method, and those who meet the retirement qualification after review shall be handled in accordance with the method.