What is a retirement pension?
Employees who have worked for more than one year at work can receive severance pay, but for some reason the company does not have enough funds to receive severance pay. In the end, companies that fail to pay severance pay are punished.
To prevent this from happening, the country amended the law in 2016 to require companies with more than 300 employees to subscribe to the retirement pension. The company has entrusted retirement benefits to a financial institution that manages retirement pensions so that workers can receive them safely after retirement.
Workers’ Compensation & Welfare Corporation Retirement Pension Inquiry 근로복지공단 퇴직연금 조회
In the past, retirement money was received as a lump sum and the money was easily spent on start-ups and investments, but it has changed to an annuity form so that the money is not easily spent. However, you can receive it in the form of a pension or a lump sum after the age of 55, not after retirement, so you can find it in the form you want. 좋은뉴스
Types of Retirement Pension
There are three types of retirement pension: defined benefit type (DB type), defined contribution type (DC type), and individual retirement pension type (IRP type). Retirement pay is calculated every year and paid to the worker’s personal bank account. The biggest advantage of IRP is tax benefits of up to 7 million won (pension savings + IRP = 7 million won) Even if there is a pension savings, up to 7 million won. There are many routes, so you need to know them well.
I looked briefly at retirement pension, but I’ve been looking at how to view my retirement pension at the Workers’ Compensation and Welfare Corporation. Let’s see it together.
Workers’ Compensation & Welfare Corporation retirement pension inquiry method!!
Retirement pension inquiry method
You can check it through the website of the Korea Labor Welfare Corporation (https://bit.ly/2CRtYki), and you must have a public certificate to check it.
If you look at My Retirement Pension, you can check the information on the amount you have paid so far, such as the date of retirement pension, type of contribution, user & subscriber contribution, and total wages.
In the asset status, you can easily check subscription information and investment yield information by period at a glance. For those of you who work at work, I think it’s very good to check how much my severance pay has accumulated from time to time. In addition, if you look at the menu on the left, you can also get payment/payment information and documents such as certificate issuance.