What is a retirement pension plan?

A statutory retirement benefit system designed to help employees ensure stable livelihood in their old age, whereby the employer accrues the financial resources for its employees’ retirement allowances in an outside financial institution while the employee works for the company, and the employee receives their retirement benefits from the financial institution in the form of an annuity or lump-sum payment.

Retirement Pension Plan

근로자는 기업으로 근로제공을, 기업은 금융기관으로 퇴직급여적립을, 금융기관은 다시 근로자에게 퇴직급여지급(연금/일시금)을 하는 노후생활보장을 위한 제도

Implementation of Retirement Pension Plan (December 2005)

The severance pay system under the Labor Standards Act was converted to the retirement benefit system in line with the introduction of the retirement pension system. The retirement benefits system is a broader concept than the severance pay system, providing employer and employee with more options.

퇴직금제도
  • 근로기준법
    • 퇴직금제도
      • 퇴직금
      • 퇴직보험/퇴직신탁

2005년 12월 근로자퇴직급여보장법 시행

퇴직급여제도
  • 근로자퇴직 급여보장법
    • 퇴직급여제도
      • 퇴직금
      • 퇴직연금제도
        • 확정급여형(DB)
        • 확정기여형(DC)
        • 개인형 퇴직연금(기업형)
        • 개인형 퇴직연금(개인형)

2012년 7월 개정 근로자퇴직급여보장법 전면시행

퇴직급여제도
  • 퇴직금제도
  • 퇴직연금제도
    • 확정급여형(DB)
      • 혼합형
    • 확정기여형(DC)
      • 혼합형
      • 표준형
    • 개인형 퇴직연금제도(IRP)
      • 기업형IRP
      • 개인형IRP

Depositor Protection

  • The DB plan is not protected by the Korea Deposit Insurance Corp. under the Depositor Protection Act.
  • The DC plan and IRP is protected under the Depositor Protection Act only for reserves invested in financial products subject to depositor protection. In such cases, protection is limited to KRW 50 mil per person, which is apart from the depositor protection limit for your other financial products. The amount in excess of KRW 50 mil is not subject to protection. In case of enrollment in two or more retirement pension plans, they shall be protected for up to a collective total of KRW 50 mil.