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Overview of
Korean Retirement
Pension Plan
Myoung Jin Koh
Chief of Pension Supervision Team
Financial Supervisory Service of Korea
Major Contents
-1-
Introduction
-2-
Pillar
Pension System
Coverage
1st
2nd
3rd
Personal Pension
All Citizens
Voluntary
-3-
-4-
-5-
-6-
-8-
-9-
-10-
-11-
-12-
-13-
-14-
Investment of reserves
-15-
-17-
-18-
Investment Principles
Prudent man rule applied to the service providers
-19-
-20-
Obligations of sponsors
Education to participants
regarding the operation of pension plan
at least once a year
- allowed to consign this obligation
to service provider
The followings are prohibited;
- conflicts of interest
- any other breaches of obligations
-21-
-22-
-23-
-24-
-25-
-26-
-27-
Stronger Security
(the variety of
investment vehicles)
The Growth of
Financial Industry