Careers-建舜電子,JEM,JOINSOON ELECTRONICS MFG

Retirement System and Implementation

The company's retirement system abides by the government of Taiwan's Labor Standards Act and the Labor Pension Act including:

1. Years of service in accordance to the Labor Standards Act (Old System): Defined Benefit Plan
Retirement Application: Worker 1) who attains the age of fifty five and has worked for fifteen years, 2) who has worked for more than twenty five years, and 3) who attains the age of sixty and has worked for ten years, are advised to apply for voluntary retirement.

Worker Pension Payment: Retirement pension will be based on the average one month salary of the employee at the time of retirement approval. Based on the years of service, two base numbers shall be given for each full year of service rendered (a total of thirty bases for the first fifteen years). For employees who have more than fifteen years of working experience, five bases shall be given for each full year. The total base number shall not exceed forty five. The length of service is calculated as half a year when it is less than six months and as one year when it is more than six months. As set forth in Article 54 of the Labor Standards Act, an additional 20% shall be given to employees who are asked to retire.

Labor Pension Reserve Funds: The company's total annual pensions for its employees are based in accordance to the Labor Standards Act retirement system. Monthly salary of employees are deposited to a designated account. The funds in the designated account shall not be the subject of transfer, attachment, offset or security. Before the end of each year, the balance in the designated labor pension account is to be assessed. If the amount is inadequate for pension payments for retirement of employees who are qualified for Article 53 or subparagraph 1 of paragraph 1 of Article 54 of the Labor Standards Act in the following year, the company will allocate the difference in one lump sum before the end of March of the following year.

Labor Pension Supervision: The Labor Pension Fund Supervisory Committee was established in accordance with the law in January 1987. The committee is responsible for the management of Labor Pension Fund to ensure full protection of the labor rights.

Labor Pension Act (Amended): Defined Contribution Plan

Monthly Contribution by the Company: In accordance to the “Monthly Contribution Classification of Labor Pension” set forth by the Bureau of Labor Insurance Ministry of Labor, the company contributes 6% of total monthly salary of employees to the designated Labor Pension Reserve accounts of individual employees.

Voluntarily Contribution by Employees: Employees can opt for voluntarily contribution with a maximum of 6% of their monthly salary to their Labor Pension Reserve accounts.