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The South Korean pension system was created to provide benefits to persons reaching old age, to families and individuals affected by the death of their primary breadwinner, and for the purpose of stabilizing the nation's welfare state. [18] South Korea's pensions system structure is primarily based on taxation, and is income-related.
The reform is to be implemented gradually, but some key features were already put into practice in 2011, including: life expectancy adjustment of pensions, flexible retirement from age 62 according to actuarial principles, and new rules for pension indexation. The new system incorporates some of the old system's characteristics, such as:
The Chile pension system (Spanish: Sistema Previsional) refers to old-age, disability and survivor pensions for workers in Chile.The pension system was changed by José Piñera, during Augusto Pinochet's dictatorship, on November 4, 1980 from a PAYGO-system to a fully funded capitalization system run by private sector pension funds.
The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families".
Other significant reforms to the pension system will concern the minimum period the number of years that the pension system must be contributed before a public pension can be secured. The minimum originally being 15 years but like the retirement age the minimum will also rise in a staggered manner up to 25 years. [16]
Public pension funds in the United States (1 C, 34 P) Pages in category "Retirement plans in the United States" The following 31 pages are in this category, out of 31 total.
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