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Stable settlement of the revised act(GEPA)

Implementing the revised GEPA stably Promoting an efficient operating system

Stable setup of revised GEP Act

Correctness Implementation of emergency systems such as a 'regular inspection group.'
Communication width interest groups Broadening consensus of the new GEPS / Improvement of pension operation to reflect customers' demands better
Additional revision Preparing for further revision of the GEPS concerning efficient pension administration

Centralization of pension administration to avoid overlapping tasks across branches

Obstacles Having the centralization plan blocked twice by many staff in fear of downsizing branches
Problem-solving efforts Spread a sense of necessity to reorganize to enhance correctness of regionally dispersed pension operations
Increase efficiency Relocation of staff to fulfill essential tasks

Making a New Disability Compensation Bill separate from the GEPS

Strengthening responsibility of the Government to those injured while on duty

Play a central role in planning the Disability Compensation Bill

Shift focus of the disability compensation system to compensation after accidents over the past 56 years to the comprehensive compensation system supporting ‘preventioncompensation-rehabilitation.’

Implement a comprehensive disability compensation service

Provide full support for disability compensation recipients
Establishment of a virtuous cycle from adequate compensation for accidents on duties to support for return to work
Strengthen compensation
Expansion of coverage for a hazard task-related death and adjustment to a realistic level of compensation

Create an easy and fast One-Stop Service

Support government employees to process complex procedures from the occurrence of accidents to the evaluation of approval quickly by assigning staff subject to ‘peak wage’ with experiences in disability compensation to ‘Help Desk.’

Implement a comprehensive disability compensation service

Provide full support for disability compensation recipients
Establishment of a virtuous cycle from adequate compensation for accidents on duties to support for return to work
Strengthen compensation
Expansion of coverage for a hazard task-related death and adjustment to a realistic level of compensation

Create an easy and fast One-Stop Service

Support government employees to process complex procedures from the occurrence of accidents to the evaluation of approval quickly by assigning staff subject to ‘peak wage’ with experiences in disability compensation to ‘Help Desk.’

First hit a KRW 1 trillion fund

Strengthening liquidity of pension payment with 1 trillion won of capital reserve

Reestablish the fund operating strategy according to the changed roles of the fund

Pursuing profits based on liquidity and stability In line with the changed role of fund from 'liability reserve' to 'contingency reserve'

Achieve a continuous increase of profit rate through a differentiated operation strategy

Three consecutive year increase of operating profit rates of financial assets (3.6% 2014 → 3.9% 2015 → 4.1% 2016) Establishment of 'next generation comprehensive management system of financial assets' which is flexible to changes of investment environment

Accrue a 1 trillion won fund for the first time since the establishment of the GEPS

0.5
(in 1982)

10.3
(in 2016)

Strengthening liquidity of pension through a differentiated operation strategy of the GEPS

Creating future growth business

Cultivating a Retirement Support Program & Customized Member Support Plan for future growth business

Providing a healthier, fulfilling life in old-age with a stable pension and a worthwhile cause

Systematically supporting the whole process from retirement design to social participation activities after retirement will help foster a fruitful old-age life with fulfilling work utilizing government employees' public service experiences

Education for Retirement Design
Enhancing old-age life preparedness of government employees by proceeding customized education for retirement design from 40’s to would-be retirees according to GEs’ life cycle
Support for social participation activities
Empower around 310,000 retirees a year to exercise public service experience and talent donation in education, ODA, etc.

A new concept of member support program through customized benefit plans for active GEs

Expanding member support program through customized alliance benefits without using pension fund on the consensus \of the general public

Amount of member support benefits for active GEs increased by 10.3 % compared to previous year (6.8 billion won, 2015 → 13.8 billion won, 2016). This was the result of providing customized alliance benefits by analyzing consumption patterns based on big data of 8 alliance credit card companies.