통합연금포털■ The Integrated Pension Portal (http://100lifeplan.fss.or.kr) plans to provide a function to check public employee pension information starting December 22nd.
– It is expected that more efficient retirement financial planning will be possible as all pension information, including civil servant pensions, can be viewed through the integrated pension portal.
1. Promotion background and progress
□ To support people’s retirement preparation, the Financial Services Commission and the Financial Supervisory Service are operating an integrated pension portal (http://100lifeplan.fss.or.kr) where all pension information subscribed to can be viewed at a glance.
ㅇ Since the launch of the service in June 2015, approximately 200,000 people have signed up and are using it as members by November 2017.
ㅇ The integrated pension portal provides integrated information on national pension, retirement pension, personal pension, private school pension, and housing pension in connection with 89 pension-related organizations.
□ Meanwhile, information related to civil servant pensions has not been provided through the integrated pension portal.
ㅇ The need for retirement financial planning that links civil servant pension and private pension is increasing, as public servants can also subscribe to the Individual Retirement Pension (IRP)* (from July 2017).
* With the revision of the Enforcement Decree of the Employee Retirement Benefit Security Act, all employed persons with income, including public officials and self-employed persons, can join the Individual Retirement Pension (IRP) (July 26, 2017)
< Overview of civil servant pension >
□ Supervising agency (executive agency): Ministry of Personnel Management (Pension Service)
□ Payment target: national and local public officials, judges, police officers
□ Number of subscribers: 1,107,000 (※Number of pension recipients: 442,000)
□ Reserves: KRW 10,321.1 billion
2. Main contents and expected effects
□The Financial Services Commission (Financial Supervisory Service), in cooperation with the Ministry of Personnel Management (Government Employees Pension Service), completed the construction of a computer system to link civil servant pension information to the integrated pension portal.
ㅇ Starting from Friday, December 22nd, various information related to civil servant pensions will be provided through the integrated pension portal.
□Accordingly, public officials will be able to receive information such as the expected annual pension amount they will receive after retirement and the difference between appropriate living expenses and pension benefits, which is expected to enable more efficient retirement financial planning.
< Main contents of information provided >
①Public officials (employees, retirees, pension recipients) are provided with information on retirement pensions being paid or scheduled to be paid, survivor/disability pensions, lump-sum retirement payments, and retirement allowances.
② Civil servant pension recipients can check the salary information they will receive every year from the age of 55 to 90 by adding it to their private pension.
③ The difference between pension benefits and living expenses for each year after retirement is calculated on an annual basis and information is provided on whether retirement living expenses are excessive or insufficient each year.
3. Future plans
□ In the future, we plan to discuss with related ministries (Ministry of Defense) to provide military pension information on the integrated pension portal (during 2018)
[Attachment 1] Integrated Pension Portal Civil Servant Pension Information Inquiry Screen
[Appendix 2] How to use the integrated pension portal
[Appendix 3] Introduction to the main functions and inquiry scope of the integrated pension portal
