Pension reformation
: respond to the change of all worker’s average wages
: Accumulative method → Benefit imposition method
In 1972 Expansion of obligatory join target
: office worker who earn a large income
: self-employed
In 1975 + disabled person
In 1981 + artist
In 1992 Pension reformation1992
: integration of identified pension laws
NATIONAL PENSION
Obligation of sign up for IKA (Social security institutions of Greece)
Monthly, pay 44.08%(employee16.00%+employer28.06%)of income
-> Get back as pension after retirement (at least working 15 years)
EKAS
Minimum living cost
65years↑
Pension1
Employee
Farmers
Official
Pension2&3
2: Personal saving system
3: Temporary salary system
(중
Pension program under National Pension Act.
Valuation of Financial Equilibrium of National Pension and Adjustment of Benefits
Early Pension
Purpose:
strong personality to making up the large funds for economic development than the original purpose of the pension 'stable security in old age.
Recently Pension
Purpose:
The National Pension pro
In Chile, each person get their individual account, so they'll get back pension from this account that they submitted.
This account have no income redistribution among inter-layers and no income transfer between generations that exist in Korean pension system.
Each AFP set minimum rate of return and make a safety device for net getting enough rate of return.
For treating enormous asset,
pension system. ICA's contributions are not including an employer's contributions that is normally including in social insurances and both salary workers and self-employed person submit 10% of their income. And more contributions can charge that is called VSA(Voluntary Saving Accounts) if they want.
2. Private management about pension assets(AFP)
AFP is private company established for