Overview of the Public Pension System

The public pension system was created based on the idea of all working people banding together to support the livelihoods of those in need, including people in old age, people with disability due to illness or injury, and surviving family members whose primary wage earner has died.
The public pension system consists of a two-tier structure: the National Pension which covers all people aged 20 to 59, and Employees’ Pension Insurance which covers company employees and public-sector employees.
Pensions are not only for senior citizens. Even young people can receive the disability pension or survivors’ pension when in need. The pension system is essential for its role in supporting the livelihoods of the elderly as well as the working population and young people.