All Korean firms obliged to subscribe to retirement pension programs
Korea Credit Bureau (KCB)
Sejong - Yonhap
The government said Wednesday it will make it mandatory for companies to subscribe to private retirement pension programs in phases by 2022 in an effort to provide a stronger safety net for retirees.
Companies with 300 employees or more will have to subscribe to retirement pension programs for their workers starting in 2016. Other firms with smaller workforce are required to subscribe by 2022, according to the finance ministry.
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