Faculty Pension Fund of Tunghai University

Many thanks to the joint effort of the following: University Council, Tunghai Professor Society, Tunghai Staff Association, all faculty and staff’s hard effort, President Chen’s excellent leadership, and the Directorate’s. The Faculty Pension Fund will start on August 1, 2009; yearly-contract staff will also be protected by Labor Pension at the same time.

now we are further protected by Pension Fund. Next to the original Retirement Plan and Old Age Benefit Civil Servant Insurance, now we are further protected by Pension Fund. 福儲制是學校額外的福利

A Pension Fund Administration Committee is designated to administer the fund from the part of University Contribution administer the use of fund and other related business of retirement benefits.

The Committee must select and evaluate the financial institutions and entrust the fund to them The Committee does not guarantee the minimum rate of return. All faculty who participate in the fund have to share the risk of investment.

Definition of terms Employee Contribution refers to participants’ deposit. University Contribution refers to the counterpart deposit from the school.

Contribution Members who serve less than 10 years— The maximum of monthly contribution is 5% of wages. Teachers who have served more than 10 years— For every ten extra years, 1% of contribution can be added to the original 5% but the added extra percentage should not exceed 3%. The school only makes contribution to pension fund participants.

Establishing Personal Accounts Personnel Office budgets for University Contribution every school year and deposits money to the exclusive bank account monthly. The school debits from participant’s bank account and saves the money with University Contribution separately in two personal trust accounts.

Policy of Withdrawals There are four ways to withdraw pension fund 1.Retirement: Participants can choose lump sum (including Employee Contribution, University Contribution and benefit) or monthly withdrawal or yearly withdrawal only when deposit years exceed 10. 2.Compensation: Survivors shall be payable in one lump sum (including Employee Contribution, University Contribution and benefit) and paid according to the Law of Succession.

3. In case of severance, participants will have to withdraw their entire pension at a one-time basis, including Employee Contribution, University Contribution and benefit. 4.Resignation or Voluntary : The participants will withdrawal the amount at one-time ,only including Employee Contribution and benefit .

Summing Up of Withdrawal Policy Participants whose depositing year under 10 can only withdraw all their personal savings at one time. However, the Committee has reached an exceptional agreement with Chinatrust and FuBon: Chinatrust Commercial Bank: Participants can choose to save all their own University Contribution continually with Chinatrust by paying some management fee. Fubon Financial: Participants can extend the warranty of self-contribution until it reaches 10 years to entitle for yearly withdrawal.

Notice: School contribution does not apply to faculty and staff during their leaves of absence or temporary transfer to a position outside Tunghai University. Upon their own discretion, those aforementioned could decide to continue the monthly withdrawals out of their own paychecks, or to halt the withdrawal until they resume their jobs within Tungahi.

Many thanks to you all again.