OECD Reviews of Pension Systems: Korea

image of OECD Reviews of Pension Systems: Korea

This review provides policy recommendations on how to improve the Korean pension system, building on the OECD’s best practices in pension design. It details the key features of the Korean pension system and identifies its strengths and weaknesses based on cross-country comparisons. The Korean pension system consists of a mandatory pay-as-you-go public scheme, occupational schemes and voluntary individual schemes. The review also covers the first layer of old-age social protection in Korea. This review is the eighth in the series of OECD Reviews of Pension Systems.


Survivor pension relative to the contributory pension of the deceased spouse

Same age couple, the deceased has worked a full career from age 20 in 2016 at the average wage and died just after having retired at the normal retirement age, mandatory pension schemes


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