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GEPS leads the completion of Government Employee Pension Reformation

As a policy partner in pension reform, we played a key role in research, analysis and communication.

Performed a leading role as pension reform policy partner

Introduction of the GEPS emergency system
  • Pensions Reform T / F Operation
  • Enhance public relations function
  • Establishment of joint government response system
Policy Research
  • Preparation of a reasonable alternative
  • Comparative analysis of equity against National Pension system
  • Case study of overseas
Financial Estimation
  • Selection of GEPS estimation model as a framework for financial analysis
  • Played a key role in reformation effect measurement
Stakeholder communication
  • Spread the consensus on reformation through direct communication by the CEO
  • Real-time communication through pension reform website

Active Participation in the Compromise Committee, the Pension Reform Working Committee, and the Pension Reform Commission CEO Press Interview (Joongang Ilbo 2014. 12. 30.)
“For the future generation, the right reformation must take place now"

Government Employees Pension Act Amendment passed in the National Assembly (2015. 5. 29.)

Pay more: 7% to 9%
Increased Contribution and Charge Rate
Receive Less: 1.9% to 1.7%
Decrease Pension Payout Rate
Receive Later: 60years old to 65 years old
Increased Full Pension Age

Reduction of 497 trillion won in government funding and reduction of 333 trillion won in total government financial burden over the next 70 years

The First Ever Pension Reform Achieved through Public Consensus

  • The Public
  • Government Employee Pension Reform is the Best Case of Excellence by the Current Administration (Hankook Ilbo 2015. 8. 25.)
  • Civil Service Society
  • Significant reduction in voluntary retirement of government employees by mitigating the anxiety about public service reform (Jan~ May: 9,617 persons → June ~ December: 5,681 persons)
  • GEPS
  • GEPS employee’s rigorous effort to bring the financial analysis of 5 major alternatives by the Grand Compromise Committee into fruition (Money Today 2015. 4. 12.)
  • Domestic pension specialist
  • Best Practices for Resolving a National Challenge with Public Consensus (Seminar hosted by the Korea Institute of Public 2015. 9. 18.)
  • Overseas Evaluation and Performance Sharing
  • Very Bold Measures to Stabilize Finances and Raise Equity (The 10th OECD Asia Pacific Pension Specialist International Conference, 2015. 11. 11.)

    Tax Savings of $ 176 billion over the next 30 years (G20 summit presidential announcement, 2015. 11. 15.)

    Solved the difficulties that the government couldn’t handle in the past (President, 2016. 1. 5. Cabinet Meeting)

Secured liquidity of about 1.4 trillion won through real estate sales including Gaepo Government Employee rental apartments

We have achieved the largest asset sales performance since our establishment.

Sale of Gaepo 8th Complex Government Employee Apartments (1,680 households, 1.909 trillion won)

  • - Sold at the price level of 133% of that of nearby apartment sales price (40.514 million won/3.3㎡)
  • - 2,000 households secured through reconstruction of Gaepo 9th complex government employee apartments → Contribution to the housing welfare of government employees by securing previous rental apartments’ government employee tenants

Sale of old rental apartments(1,011 households, 153.2 billion won)

Sale of low-yielding properties (50.7 billion won)(1,011 households, 153.2 billion won)

  • - Gwangju Sangrok Hall (38.4 billion won), Jeju Sangrok hall (11.6 billion won)
  • - Golf course residual plot (700 million won)

"Reliable Life Companion" Establishment of a New Customer Service Value

GEPS is the 'Reliable Life Companion' of government employees.

Establishment of new customer service value ‘Reliable Life Companion’ to provide continuously high-quality customer service even after the Government Employee Pension Reform and head office relocation to Jeju

Reliable life Companion

We will become your Reliable Life Companion
GEPS is my Reliable Life Companion

Analysis of internal and external environment and customer demands and complaints

GEPS trusted by active and former government employees
Customized service for each life stage: from employment to after retirement
GEPS and the government employees are 'one and together'

Awarded the ‘Korea Management Grand Prize’ in 2015 Selected as the best call center for 2 consecutive years

GEPS received an excellent rating from external institution in 2015.

Establishment of new customer service value ‘Reliable Life Companion’ to provide continuously high-quality customer service even after the Government Employee Pension Reform and head office relocation to Jeju

Awarded the first Public Service Leadership

Awarded for public service sector excellence by KMAC
The first for a public pension operator
Continuous leading efforts in pension work innovation rated highly
Business redesign based on 10 core values including speed, accuracy, transparency, fair and convenience

Selected as the best public institution call

  • Confirmation of integration of performance sharing system hosted by Korean
  • Government 3.0 customized one-stop consultation service
  • Highly rated business improvement through VOC collection analysis

Selected as a best practice case of performance sharing system implementation, a first time for a quasi-governmental agency

We lead the implementation of the core governmental policies for mutual growth

Introduced performance sharing system to GEPS’ five business sites such as golf course and hotel for mutual cooperation and growth with small and medium-sized business partners

  • - Selected as one of the 8 best performance-sharing cases among the 1,303 conglomerate and public institution-submitted project cases.
  • - 2015 Performance Sharing System Service Improvement Type hosted by the Korea Commission for Corporate Partnership and the Corporate Partnership Foundation

Three-year systematic preparation to select a representative model of performance-sharing system

Year 2013

Confirmation of Incorporation of Performance-sharing system
The third company to incorporate among 86 quasi-governmental agencies

Year 2014

Performance sharing task Final verification
Final verification of five performance sharing tasks after the completion of performance-based compensation in 2014

Year 2015

Performance Sharing System Best Practice Selection
Selected as one of the 8 best performance-sharing cases (service improvement type) in 2015