“Measures prescribed by the Presidential Decree” in Article 38 (2) of the Act means the following measures：
1. The employer shall submit an abolition report containing the following matters to the Minister of Employment and Labor within one month after the date of abolishing the retirement pension plan：
A. A consent of the workers’ representative to the abolition of the retirement pension plan under Article(4) 3；
B. Reasons for the abolition of the retirement pension plan and the date of abolition；
C. Reserves and unpaid contributions of the relevant business calculated based on the date of abolition of the retirement pension plan (referring to a reserve shortfall compared to the amount obtained under Article 16 (1) 2 of the Act in cases of a defined benefit retirement pension plan, and an amount including interest on delayed payment of contributions in cases of a defined contribution retirement pension plan)；
D. Measures to resolve unpaid contributions, such as the expected date of payment thereof (limited to a defined contribution retirement pension plan).
2. The employer shall notify the pension holders of the following matters：
A. Matters specified in subparagraph 1 C；
B. Benefit statements and payment procedures；
C. A period subject to the interim settlement under Article 40；
D. Measures to resolve unpaid contributions, such as the expected date of payment thereof (limited to a defined contribution retirement pension plan).
3. The employer shall pay unpaid contributions within 14 days after the date of abolishing the retirement pension plan and have the retirement pension trustee pay benefits.

“Basic services prescribed by the Presidential Decree” in Article 38 (3) of the Act means services classified as follows：
1. The following services in cases of an employer：
A. Publicly notifying the pension holders of reasons for the suspension, the date of suspension, a resumption schedule, measures to handle the suspension period, such as a plan to pay unpaid contributions if there are unpaid contributions, and so on；
B. Providing education for pension holders under the former part of Article 32 (2) of the Act；
C. Measures necessary to carry out the services prescribed by Acts and subordinate statutes, etc., in regard to claims for payment of benefits, management of reserves, etc., even in the event of suspension of the operation of a retirement pension plan；
D. Other services determined by the Minister of Employment and Labor in order to maintain the continuity of a retirement pension plan and protect pension holders.
2. The following services in cases of a retirement pension trustee：
A. Paying benefits upon retirement, etc. of pension holders；
B. Providing education for pension holders entrusted under the latter part of Article 32 (2) of the Act；
C. Services prescribed by Acts and subordinate statutes and the contracts on operational management services and asset management services in regard to payment of benefits, management of reserves, notification of management status, etc.；
D. Other services determined by the Minister of Employment and Labor in order to maintain the continuity of a retirement pension plan and protect pension holders.

If benefits are deemed to be paid in the interim settlement under Article 38 (4) and (5) of the Act, the amount of interim payments (limited to a defined benefit retirement pension plan) and the period subject to the interim settlement are classified as follows：
1. In cases of a defined benefit retirement pension plan：the amount of interim payments shall be calculated by proportionally dividing the amount of reserves accumulated by each business among the pension holders in consideration of their consecutive service periods, average wages and the benefit levels under subparagraph 4 of Article 13 of the Act, and the period subject to the interim settlement shall be calculated based on the amount of interim payments；
2. In cases of a defined contribution retirement pension plan and an individual retirement pension plan under Article 25 (1) of the Act：the period subject to the interim settlement shall be from the day each pension holder joined the retirement pension plan until the last day of a period corresponding to the contributions paid by the employer.

(1) The Minister of Employment and Labor shall entrust the following authority to the Financial Services Commission pursuant to Article 42 (1) of the Act：
1. Registration of a retirement pension trustee under Article 26 of the Act；
2. Cancellation of registration of a retirement pension trustee and issuance of an order for transfer of services under Article 27 of the Act；
3. Cancellation of registration of a retirement pension plan solicitor and suspension of business under Article 31 (6) of the Act；
4. Issuance of a corrective order and an order for transfer of services under Article 36 (1) and (2) of the Act (including requests for reporting and submission of documents under Article 40 of the Act to the extent necessary for the exercise of the relevant authority)；
5. Hearings under Article 41 of the Act；
6. Imposition and collection of fines for negligence under Article 48 of the Act (limited to imposition and collection of fines for negligence against retirement pension trustees).
(2) The Financial Services Commission may determine and announce detailed standards necessary for performing the duties specified in paragraph (1) 1 though 4. In such cases, it shall consult with the Minister of Employment and Labor in advance.
(3) If the Financial Services Commission cancels registration of a retirement pension plan solicitor and suspends his/her business pursuant to paragraph (1) 3, it shall inform the Minister of Employment and Labor of the details and grounds.
(4) The Minister of Employment and Labor shall entrust the following authority to the Governor of the Financial Supervisory Service pursuant to Article 42 (1) of the Act：
1. Approval of a standard contract under subparagraph 2 of Article 23 of the Act；
2. Check for violations of the matters to be observed by retirement pension plan solicitors under Article 31 (7) of the Act.
(5) The Governor of the Financial Supervisory Service shall, if a retirement pension plan solicitor is found to have violated the matters to be observed as a result of check under subparagraph (4) 2, inform the Financial Services Commission of the details of such violation.
(6) The Minister of Employment and Labor may, if deemed necessary in order to protect employers and pension holders and maintain sound order in transactions, request the Governor of the Financial Supervisory Service to make a check under paragraph (4) 2, and after making the check, the Governor of the Financial Supervisory Service shall submit the results in writing to the Minister of Employment and Labor.
(7) The Minister of Employment and Labor shall delegate the following authority to the heads of local employment and labor offices pursuant to Article 42 (1) of the Act：
1. Receipt of retirement pension rules reported under Articles 13 and 19 of the Act；
2. Issuance of a corrective order and an order for suspension of operation of a retirement pension plan under Article 35 of the Act；
3. Request for reporting, submission of documents or physical presence under Article 40 (1) of the Act and questioning and investigation under paragraph (2) of the same Article；
4. Imposition and collection of fines for negligence under Article 48 of the Act (limited to imposition and collection of fines for negligence against employers)；
5. Receipt of a statement of reasons for selection or change of a retirement pension trustee under the latter part of subparagraph 2 of Article 31；
6. Receipt of a report on abolition of a retirement pension plan under subparagraph 1 of Article 38.
(8) The Financial Services Commission shall entrust authority over the measures specified in Article 36 (3) 1 of the Act (excluding demands for dismissal of an employee) to the Governor of the Financial Supervisory Service pursuant to Article 42 (2) of the Act.