Common use of Redemption Fee Clause in Contracts

Redemption Fee. Upon the Termination Date or the period specified in Article 23, as applicable, the following provisions shall apply in sequential order: a) There shall be immediately payable from the Associate's Account to the Fund Management Entity a Redemption Fee in accordance with the Management Regulation of the Fund Management Entity. b) The remaining balance of the Associate’s Account after the Redemption Fee (where applicable) shall if the Associate so directs the Fund Management Entity in writing, be transferred to another pension fund subject to any necessary approval of any governmental authority (if applicable). c) If the Fund Management Entity determines that payment of the balance of the Associate's Account as determined above involves the sale of investments for which there is at that time no adequate available market, the Fund Management Entity shall consult account owner/ Associate on their intention for cancellation of account, switching of investment allocation/ request for withdrawal. The Fund Management Entity shall then inform Social Security Fund (if government-managed sub-account is involved) or other fund management entities (if transfer of contribution sub-account or preserved sub-account is involved)

Redemption Fee. Upon the Termination Date or the period specified in Article 23, as applicable, the following provisions shall apply in sequential order: a) There shall be immediately payable from the Associate's Account to the Fund Management Entity a Redemption Fee in accordance with the Management Regulation of the Fund Management Entity. b) The remaining balance of the Associate’s Account after the Redemption Fee (where applicable) shall if the Associate so directs the Fund Management Entity in writing, be transferred to another pension fund subject to any necessary approval of any governmental authority (if applicable). c) If the Fund Management Entity determines that payment of the balance of the Associate's Account as determined above involves the sale of investments for which there is at that time no adequate available market, the Fund Management Entity shall consult account owner/ Associate on their intention for cancellation of account, switching of investment allocation/ request for withdrawal. The Fund Management Entity shall then inform Social Security Fund (if government-managed sub-account is involved) or other fund management entities (if transfer of contribution sub-account or preserved sub-sub- account is involved)