Summary
There are four public pension programs in Korea: National Pension scheme, Govern-ment employees pension scheme, Military Personnel Pension scheme, and Teachers Pension scheme. Teachers' Pension scheme provides annuity and other various benefits in case of retirement, death, job-related disease, injury and disability of private school personnel.
Teachers in accordance with the law should be mandatory to join. Payment terms and fees are followed by the teachers' pension act.
Teachers' Pension scheme have been imple-mented since 1975, for the purpose of improving the welfare and stabilizing the life of the survivors and the school personnel by establishing the appropriated benefits scheme for the retirements, death and official disease, injury, disability from work.