| X. Retirement Allowance and Pension | ||
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1. Retirement Allowance National government employees receive a lump sum of non-contributory allowance at the time of their retirement. The amount of retirement allowance is (final monthly salary) x (retirement
allowance index). The index takes into consideration the number of years
of service and the reason for retirement.
2. Pension v The pension scheme for government employees is operated by the National Public Employee Mutual Aid Association, participation in which is compulsory for all employees. The pension fund is furnished by contributions from employees and the government. The mutual aid pension is, in principle, granted to those who retire after
25 years or more of service and pension payment starts from the age of 60. Full
pension entitlement age will be deferred gradually from the year 2001, reaching
65 in the year 2013. The size of an individual pension is calculated according
to the average salary of the retired employee throughout their entire years of
public service, the number of years of service and the number of dependent family
members meeting certain conditions.
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