Where the Organization has decided to pay all or part of a retirement allowance by way of installment payment and an event set out in the following items occurs, the Organization is to pay in a lump sum, to the person specified in each of those items, the total amount of the amounts equivalent to the present value of the retirement allowance installments whose payment months have not arrived by the time that event occurred (hereinafter referred to in this Article as the "present value amount").
Where the covered employee dies: the heirs
被共済者が死亡したとき。 相続人
Where a special circumstance specified by Order of the Ministry of Health, Labour and Welfare, such as a severe disability, has arisen for the covered employee and that person has requested the Organization to pay the total amount of the present value amounts in a lump sum: that person
The present value amount is the amount obtained by discounting the amount of the retirement allowance installment, by the compound present value method at the interest rate determined by the Minister of Health, Labour and Welfare as the interest rate that was the basis for calculating the installment payment rate for that amount, according to the period from the nearest payment month after the occurrence of the event set out in each item of the preceding paragraph to the payment month for that retirement allowance installment.
Read this with the articles around it
the Organizationmachine translation
「機構」
The Organization for Workers' Retirement Allowance Mutual Aid (独立行政法人勤労者退職金共済機構), an incorporated administrative agency, throughout this Act except Articles 56 and 57.
Short name set inArticle 2, paragraph (3)· applies from here on, except in Articles 56 and 57
covered employeemachine translation
「被共済者」
A person to whom the Organization (機構) must pay a retirement allowance (退職金) when they leave their employment, under a retirement allowance mutual aid contract (退職金共済契約) or a specified-industry retirement allowance mutual aid contract (特定業種退職金共済契約).
Defined inArticle 2, paragraph (7)· applies throughout the law
installment payment ratemachine translation
「分割支給率」
In Articles 12 and 13, the rate, set by Cabinet Order (政令) for each installment payment period (分割支給期間), by which the retirement allowance (退職金) — or the part of it to be paid in installments — is multiplied to give the amount of each installment.
Short name set inArticle 12, paragraph (5)· applies only in this provision and in Article 13, paragraph (2)
retirement allowance installmentmachine translation
「分割退職金」
In Articles 12 and 13, the part of a retirement allowance (退職金) paid in each payment month (支給期月) when it is paid in installments: the retirement allowance, or the part of it to be paid in installments, multiplied by the installment payment rate (分割支給率).
Short name set inArticle 12, paragraph (5)· applies only in this provision and in Article 13
present value amountmachine translation
「現価相当額」
In Article 13, the present value of each retirement allowance installment (分割退職金) whose payment month (支給期月) has not yet come, discounted at compound interest at a rate the Minister of Health, Labour and Welfare (厚生労働大臣) sets; their total is paid in one lump sum to the heirs if the covered employee (被共済者) dies, or to the employee if a severe disability or another special circumstance arises and they ask for it.
Short name set inArticle 13, paragraph (1)· applies only in this article