TEACHERS' PENSION

It refers to the benefit that is paid to the survivors if the beneficiaries of linked retirement annuity or the beneficiaries or the pensioners of the linked retirement annuity died. ※ Amount of survivor`s pension = Linked retirement annuity × 60% (School staff under employment before January 1, 2010 = 70%)

If the movers between national pension and occupational pensions (Private School Teachers` Pension, Military Pension, Semi-official Post Office Staff Pension) link the participation period, the linked period becomes ten years. This benefit is paid when the pension age is reach

It refers to the reservist duty of incomplete active service, the period of cadets (officer and noncommissioned officer), the reduction period of the service period (the number of days of sentence execution, the number of days of desertion from duty, the number of days of confinement in a guardhouse), the service period of Homeland Construction Corps personnel, the training period of ROTC and the working-level service period of the special reservist status.

It is calculated into the present value of the year when the reason for the benefit occurred or when the payment of pension begins by sequentially multiplying the average increase rate of remuneration for public officials of each year (the notice of the Minister of Public Administration and Security) by the base monthly income or average base monthly income.

It refers to the amount that is totaled and divided by the employment period after applying the increase rate of the remuneration for the public officials each year and calculating it into the current value for the duration until the appointment since January 1st, 2011 retroactively from the previous date of retirement or the month to which the deathday belongs in case of death during appointment.

It refers to the 12-month averaged amount of the total annual amount of the income less non-taxable income that school staff earned from being employed by schools and management institutions for a certain period of time. ※ - Base Monthly Income = (Earned Income - Non-taxable Income) / 12 - It is the basis of contribution and benefit calculation.

It refers to the amount corresponding to 12 times the amount of monthly remuneration.

It refers to having a rest for a certain period of time while maintaining the school staff`s status and qualification, and it can include general leave of absence, leave for military service, sick leave and parental leave and so on.

It refers to the redefinition of pay grade if school staff include the reasons for combined calculation (inc. eligibility and change of academic ability) and the restriction period of salary raise, or the method of redefining the pay grade is changed.

It is one of the disciplinary actions, and is the severe disciplinary punishment next to expulsion. The school staff`s status is deprived.

It refers to the loan for the school staff`s children who are in attendance at the regular foreign university courses to the extent of U$10,000.00 per year under the same conditions with those for the domestic universities.

It refers to the amount to be returned by adding a certain rate of interest to the retirement benefit received at the time of retirement for combined total employment period. The benefits of return are lump sum allowance for retirement, lump sum allowance for retirement annuity and lump sum allowance for retirement annuity after deduction. The retirement annuity and military retirement annuity are not the objects of return.

It refers to those who were released after active military service for one and half years based on the college registered active servicemen system. ※ Holders of 6 months` period of release (enforced between 1956 and 1962)

It refers to the case when the academic ability of teachers was changed while in office.

It refers to those who served in the period of war from the installation date of the Save-the- Nation Emergency Students` Corps (June 29, 1950) until the relieved date (February 28, 1951).

It refers to the school foundations or private school executives that installs and manages the private school of the institution for compulsory participation and the institution for optional participation

The average monthly salaries of teachers are the monthly salaries calculated in accordance with the provisions in the Regulations for Public Official`s Remuneration which are applied to the educational public officials depending on the position and eligibility of the relevant teachers. The average monthly salaries of the clerical staff refer to the monthly salaries calculated in accordance with the provisions in the Regulations for Public Official`s Remuneration which are applied to the general public officials and technical public officials depending on the ratings and service duration of the relevant clerical staff.

It refers to the case that the state of mental or physical damage continuously remains on the bodies of the school staff due to the official disease or injury. ※ The degree of disability is separated into fourteen grades from the Grade 1 to the Grade 14.

It is calculated into the present value of the year when the reason for the benefit occurred or when the payment of pension begins by sequentially multiplying the average increase rate of remuneration for public officials of each year (the notice of the Minister of Public Administration and Security, 6% every year during the period before 2001) by the monthly remuneration or average monthly remuneration.

It refers to the amount that is totaled and divided by the number of applicable months after calculating the monthly salaries of the last three years (limited to the employment period after January 1st, 2001 or the total employment period combined after January 1st, 2011, and limited to the employment period if the employment period is less than 3 years) into the current value retroactively from the previous date of retirement or the month to which the deathday belongs in case of death while in office.

It is one of the disciplinary actions, and refers to clearing the school staff`s relationship. The retirement benefit is paid after deducting a certatin portion of the benefit.

It refers to the benefit that the school staff with the employment period of less than ten years receive in a lump sum after retirement

It refers to the benefit that the school staff with the employment period of more than ten years receive in a lump sum after retirement as a substitution for pension.

It refers to the benefit that the school staff with the employment period of more than ten years receive as a pension for a certain period of more than ten years after retirement and in a lump sum for the rest period.

It refers to the transitional provisions to raise by one age every two years to gradually institutionalize as the age of sixty while paying the pension from the age of fifty which is the age applicable by the year of retirement in case that the school staff (limited to the appointee before December 31, 1995 and the school staff with the combined total employment period before December 31, 1995) whose employment period was less than twenty years as of December 31, 2000 retired after January 1, 2001 and the employment period was extended to be more than twenty years. In other words, it was adjusted to pay the pension from the age of sixty to the school staff who retire after 2021 by paying the pension from the age of fifty to the school staff who retired in 2001 and 2002, from the age of fifty-one to the school staff who retired in 2003 and 2004 and from age of fifty-two to the school staff who retired in 2005 and 2006. ※When the age for retirement or upper age limit for working is reached first, the pension is paid from the applicable age regardless of the pension age by year. The law was amended to determine that the pension age is effective when five years elapsed from the age of sixty five or when the age for retirement or upper age limit for working is reached With the pension reform in 2015, the age at which the pension will start to be paid will be gradually raised to 65 years. Retirement year : 2016 ~ 2021 > age of 60 Retirement year : 2022 ~ 2023 > age of 61 Retirement year : 2024 ~ 2026 > age of 62 Retirement year : 2027 ~ 2029 > age of 63 Retirement year : 2030 ~ 2032 > age of 64 Retirement year : 2033~ > age of 65

It refers to the benefit that is paid as a pension after the school staff with the employment period of more than ten years retired.

It refers to the expenses required for the payment of retirement allowance borne by the nation or the Foundation.

It refers to the benefit that is paid if school staff retired or die after being employed for more than one year.

It is the long-term benefit that is paid when school staff retire, and refers to the five kinds such as the retirement annuity, Early Retirement Annuity, lump sum allowance for retirement annuity, lump sum allowance for retirement annuity after deduction and lump sum allowance for retirement. - The lump sum allowance for retirement annuity is paid if the school staff who were employed for more than ten years want to receive allowance in a lump sum the allowance not as a pension, and such a selection of payment method cannot be changed to other benefit such as the retirement annuity if payment is once made based on such a selection by school staff. - The lump sum allowance for retirement annuity after deduction is paid if the school staff who were employed for more than ten years want to receive the allowance as a pension for a certain period of more than ten years after retirement and in a lump sum for the rest period.

It refers to all dismissals other than removal, resignation and death. However, there is an exception when school staff are reappointed on the day when their status ceased to exist or on the next day, and when the retirement benefit and retirement allowance in accordance with the Pension Act are not received.

It refers to the benefit paid by the Military Pension Act which corresponds to the Retirement Annuity of the Private School Teachers` Pension Act.

It refers to the disposal and its execution that the Foundation realizes the same state as the obligations were forcibly fulfilled if school staff or school institutions fail to implement their obligations shared by them for the Foundation.

Amount that should be saved from the current fund by the operating body of the pension scheme as the benefit to be paid in the future ※ Liability reserve amount = total current value amount for future benefit expenditure - total current value amount for future contribution income

The duties and responsibilities assigned to school staff are evaded.

It refers to the case when the elementary, secondary and high school teachers are appointed as principals or deputy principals and when the title of the teaching staff of colleges are shifted from assistant professor to associate professor and from associate professor to full professor.

It refers to the benefit that is paid for the expenses required for medical care if school staff received the official medical care due to the official disease or injury.

It refers to the disease and injury which are directly or indirectly caused by the performance of duties.

It refers to the separation of the type of similar duties depending on the distinction between the responsibilities and difficulties.

It refers to the parents of the school staff themselves or the blood relatives that belong to the same or lower generation with the parents.

It refers to the descendants of the school staff themselves and the blood relatives that belong to the same or lower generation with them.

It refers to the class which is divided depending on the type of duties and degree of responsibilities.

It refers to obtaining approval by applying for the application of the previous monthly remuneration if the public officials concerned want and the heads of the school management institutions agree when the monthly remuneration was reduced due to demotion, change of occupation or re-appointment of the school staff.

It is the pension that allows the school staff who were employed for more than ten years and retired before the age for retirement annuity benefit to receive the pension early after reducing a certain rate of amount before the pension age.

When one`s duty is suspended from one month to three months as a kind of disciplinary punishment, two thirds of his or her salary is decreased and raising his or her salary grade is restricted for 18 months from the day when the suspension of his or her duty is removed. But after 7 years have passed since suspension of his or her duty was removed, those restricted periods of service can be recovered for his or her career with the exception of the period of suspension.

The period required for the raise in salary between the pay grades of the public officials is one year, and the public officials` salaries rise as from the first day of January, April, July and October each year.

It refers to the additional pay that is paid to the public officials on the payment date depending on the years of service within the range of budget. (It was formerly known as the long-service allowance.) ※ It is the allowance that is included in calculating the monthly remuneration.

Being paid to the public officials for the purpose of rewards and encouragement for the performance of works, it refers to the allowance that is paid on the payment date in January and July each year depending on the years of service within the range of budget. ※ It is the allowance that is included in calculating the monthly remuneration.

Change of occupation from clerical staff to teacher or vice versa.

It refers to one of the work processes that school institutions notify the retirement over the phone to the school staff for whom the causes of retirement occurred.

It is notified by the Commissioner of Statistics Korea based on the nationwide consumer price fluctuation rate each year, and the pension which is adjusted based on this is applied from January until December of the year without fluctuation. In obtaining the price fluctuation rate of the previous year as compared to that of the year before last, the price index based on a certain month is not obtained but the average annual price index of the relevant year is compared.. ※ Consumer Price Fluctuation Rate = (Average Nationwide Consumer Price Index of the Previous Year - Average Nationwide Consumer Price Index of the Year before Last ) / Annual Average Nationwide Consumer Price Index of the Year before Last × 100)