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2. What is the qualification and benefit standard for claiming an old-age lump-sum benefits?

  1. Qualifications: Those insured person who is more than 60 years of age and the insurance coverage year is less than 15 years and who resigns from his/her job and withdraws from insurance coverage. (The benefit qualification age is the same with the old-age benefit and will be increased gradually.)
     
    Age at the time of application Year Year of Birth
    60 2017 Born prior to 1957
    61 2018/2019 1958
    62 2020/2021 1959
    63 2022/2023 1960
    64 2024/2025 1961
    65 2026 and beyond 1962 and later
     
  2. Benefit Standards: For every one full year of insurance coverage seniority, one month of average monthly Insured salary would be issued; for the insurance coverage seniority less than one year, it would be calculated by the actual months proportionally; for the insurance coverage seniority less than 30 days, it would be counted as one month. The insurance coverage seniority after 60 years old, the maximum of 5 years would be counted.
    ※ “Average Monthly Insured salary” is calculated by averaging the highest 60 month of Insured salary during the insurance coverage years.
     

 

Last Update:2019-10-17
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