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Article 5-2 of the Basic Pension Act (Special Provisions for Calculating the Amount of Basic Pension for Low-income Basic Pension Beneficiaries) ① Notwithstanding the first sentence of Article 5 ② the standard pension applied to those aged 65 or older with an income recognition of 40/100 or less shall be 300,000 won.<Revised January 21, 2020>
Before April 2016, a wife or husband could claim extra basic State Pension based on the National Insurance contributions paid by his or her husband or wife (this extra is called a Category B pension). If a woman has a Category A basic State Pension of less than 60 per cent of the full basic State Pension, then when she reaches her State Pension ...
Disability basic pension – Members can receive the disability basic pension if they experience sickness or injury resulting in a grade 1 or grade 2 disability during the time they are covered by the national pension. As of Financial Year 2018, the annual amount for grade 1 is ¥974,125 and the annual amount for grade 2 is ¥779,300.
At the outset of the Civil War the General Law pension system was established by congress for both volunteer and conscripted soldiers fighting in the Union Army. [4] Payouts derived from this plan were based on degree of injury and subject to review by government boards. By 1890, general old-age pensions were incorporated for Union veterans. [5]
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A pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension. Labor unions, the government, or other organizations may also fund pensions. Occupational pensions are a form of deferred compensation, usually advantageous to employee and employer for tax reasons.
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Mandatory occupational pension provision: Voluntary private collective pension provision; Voluntary private individual pension provision Georgia: Basic pension: N/A: N/A: N/A Germany: Social assistance: Social insurance system: Voluntary occupational pension insurance: Private pension schemes Hong Kong: Basic pension: Provident fund system: N/A ...