TEACHERS' PENSION

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 amount corresponding to 12 times the amount of 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 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

The duties and responsibilities assigned to school staff are evaded.

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 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.

For teachers, it refers to the appointment date reported to the competent authorities in accordance with the provisions of Article 54 of the Private School Act for teachers. For clerical staff, it refers to the appointment date on which they are appointed within the number by position prescribed in the articles of incorporation in accordance with the provisions of Article 70, Clause 2 of the Private School Act.

It is the benefit paid in a lump sum when the school staff with the employment period of less than ten years died while in office. ※ Amount of Survivor`s Lump Sum Allowance = Same with the amount of lump sum allowance for retirement

It refers to the amount that is paid by adding the overdue interest rate for the delayed contribution defined by the Presidential Decree when the personal contribution, corporate contribution, national contribution, contribution for disaster compensation and combined repayment are not paid by the prescribed due date.

The benefit for pensioners is applied from January until December of the year by increasing or decreasing the amount corresponding to the consumer price fluctuation rate of the previous year as compared to that of the year before last which is notified by the Commissioner of Statistics Korea every year. Taking the public officials` remuneration fluctuation rate and the nationwide consumer price fluctuation rate into account, the Minister of Public Administration and Security can adjust it by consultation with the Minister of National Defense, the Minister of Education and the Minister of Strategy and Finance in advance.

It is the system which enables the person who has objections to the decision about benefit or collection of contribution and other disposition or benefit under this Act to claim the review to the Appeal Commission for Benefits, and the claim for review should be made with 180 days from the date of disposition and within 90 days from the date when the fact was known.

It refers to the additional pay that is paid depending on the work conditions and living conditions.

If the reason for long-term benefit occurred within one year after the monthly remuneration is increased or decreased due to promotion, demotion, degradation, change of occupation, change of assignment or re-employment, the benefit shall be calculated by averaging out at the remuneration of before and after the increase and decrease.

The following year`s loan interest rate of the loan for the living expenses is being adjusted in December each year considering the interest rates of the commercial banks, and if there is a variation, that interest rate is automatically applied for the existing loans as well as the new ones.

It refers to the affiliated foundations in which several school institutions are installed to the same school foundation. Several schools established by a school foundation are called an affiliated school foundation.

It refers to the fact that the types of benefits, reason for benefits, amount of benefit and items about the benefit are applied in accordance with the Public Officials Pension Act in order to make the treatment equal with the school staff of the national and public schools.

It refers to the variable rate of the amount of the total amount of the monthly salaries of entire public officials divided by the number of entire public officials as of the end of October of the last year as compared to the amount of the total amount of the monthly salaries of entire public officials divided by the number of entire public officials as of the end of October of the year before last.