Pension
lastmod 2025-07-21created 2025-07-211 edits
A pension (年金; North Korean Munhwaŏ: nyeongeum, or jeonggi bojogeum, "regular subsidy") is money that provides an individual with yearly income once they no longer have a regular income. The system for this is called a pension system. It is in place in South Korea, Australia, Canada, Hong Kong, Finland, India, Japan, Malaysia, the Netherlands, New Zealand, Singapore, Sweden, the United Kingdom, the United States, and elsewhere, and some of these are also regarded as social insurance.
See also
- Retirement pension
- Defined benefit (DB type)
- Defined contribution (DC type)
- Korean: 개인형 퇴직연금 (IRP)
- Individual savings account (ISA; Korean: 개인종합자산관리계좌)
- Severance package (Korean: 퇴직금)
- Pension (Korean: 연금)