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Pension Dictionary

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Military Retirement Annuity
It refers to the benefit paid by the Military Pension Act which corresponds to the Retirement Annuity of the Private School Teachers` Pension Act.
Message by Phone
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.
Medical Institution
It refers to the medical care institutions pursuant to provisions of Article 40 of the National Health Insurance Act, and includes the medical institutions established under the medical law, the pharmacies registered under the pharmacy law or the health centers, medical centers and medical sub-centers under the local health law and the health clinics established under the special laws for rural health and medical service such as rural health sub-centers.
Monthly Remuneration
It refers to the sum of amount of the base monthly salary which is calculated depending on the school staff`s positions, eligibility and work experiences of the year in accordance with the provisions of the salary for public officials regardless of the salary actually received from their schools or management institutions and the 12-month averaged amount of allowance for good attendance and additional allowance for good attendance prescribed by the regulations of allowance for public officials. ※ - Monthly Remuneration = Base Monthly Salary + (Annual Allowance for Good Attendance + Annual Additional Allowance for Good Attendance) / 12 - It is the basis of contribution and benefit calculation.
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