Article 1(Purpose) #
The purpose of this Act is to provide for the matters related to support for people’s preparation for old age so as to ensure a healthy and stable life in their old age.
Article 2(Definitions) #
The terms used in this Act are defined as follows: <Amended on Dec. 20, 2024>
1. The term "preparation for old age" means any proactive action against poverty, disease, idleness, loneliness, etc. that a person might suffer in old age;
2. The term "preparation for old age service" means providing services, such as diagnosis, counseling, education, referrals to relevant institutions, and follow-up management in various fields including finance, health, leisure, and interpersonal relationships, so that individuals may properly prepare for old age in all aspects, including physical, mental, social, and economic domains.
Article 3(Responsibilities of the State) #
(1) The State and local governments shall formulate and implement necessary measures to support people’s preparation for old age, such as providing legal and institutional frameworks.
(2) Each business owner shall fully cooperate with measures taken by the State and local governments to support preparation for people's old age and shall endeavor to encourage and support his or her employees in preparing for their old age.
Article 4(Relationship to other statutes) #
Except as expressly provided for in any other Act, this Act shall govern concerning support for preparation for old age.
Article 5(Formulation of support plans for preparation for old age) #
(1) The Minister of Health and Welfare shall formulate a master support plan for preparation for old age (hereinafter referred to as "master plan") every five years in consultation with the heads of relevant central administrative agencies, and the Special Metropolitan City Mayor, a Metropolitan City Mayor, a Special Self-Governing City Mayor, a Do Governor, or a Special Self-Governing Province Governor (hereinafter referred to as the "Mayor/Do Governor") shall formulate an action plan for the relevant local government every five years in accordance with the master plan. <Amended on Dec. 21, 2021>
(2) A master plan shall include the following matters: <Amended on Dec. 20, 2024>
1. Basic direction-setting for support policies for preparation for old age;
2. Matters relating to establishing infrastructure to support preparation for old age, including support centers for preparation for old age;
3. Matters relating to developing and distributing programs necessary to support preparation for old age service in the areas such as health, interpersonal relations, leisure, and finance;
4. Other matters prescribed by Presidential Decree to support preparation for old age.
(3) The Government may include the master plan when formulating a master plan on low birth rates in an aging society under Article 20 of the Framework Act on Low Birth Rate in an Aging Society, and the Mayor/Do Governor may include the action plan under paragraph (1) when formulating action plans for the relevant local government under Article 21 of the Framework Act on Low Birth Rate in an Aging Society. <Added on Dec. 21, 2021>
(4) If necessary to formulate a master plan or action plans under paragraph (1), the Minister of Health and Welfare or the Mayor/Do Governor may request the relevant administrative agencies, public organizations, etc. to submit related data, and the agencies upon receipt of such request shall comply therewith unless there is a compelling reason not to do so. <Amended on Dec. 21, 2021>
(5) Matters necessary for the formulation and implementation of a master plan shall be prescribed by Presidential Decree. <Amended on Dec. 21, 2021>
[Title Amended on Dec. 21, 2021]
Article 6(Support projects for preparation for old age) #
The Minister of Health and Welfare shall conduct projects specified in the following subparagraphs to support people’s lifecycle preparation for old age: <Amended on Dec. 21, 2021>
1. Raising awareness for preparation for old age;
2. Survey, research, education, and compilation of statistics on the actual status of preparation for old age;
3. Providing and developing programs for old age preparation service;
4. Designation of a central support center for preparation for old age;
5. Matters regarding the evaluation of the metropolitan support centers for preparation for old age and community support centers for preparation for old age;
6. Training and management of old age preparation service providers;
7. Establishment and operation of an information system necessary to provide old age preparation service;
8. Public relations and international cooperation necessary for old age preparation service;
9. Other projects deemed necessary by the Minister of Health and Welfare to support people’s preparation for a healthy and stable life in their old age.
Article 7(Old age preparation index) #
(1) The Minister of Health and Welfare shall develop and make available assessment criteria to measure and check the degree of overall preparedness for old age (hereinafter referred to as "old age preparation index").
(2) Matters necessary for the development and dissemination of assessment criteria shall be prescribed by Decree of the Ministry of Health and Welfare.
Article 8(Deliberation on support for preparation for old age) #
(1) The Minister of Health and Welfare shall undergo deliberation by the Committee on Low Birth Rates and Aging Society under Article 23 of the Framework Act on Low Birth Rate in an Aging Society on matters prescribed by Presidential Decree, such as the formulation of a master plan, in relation to support for preparation for old age.
(2) Matters necessary for the procedures for deliberation and the operation thereof under paragraph (1) shall be prescribed by Presidential Decree.
[This Article Wholly Amended on Jan. 9, 2024]
Article 9(Central support center for preparation for old age) #
(1) In order to perform the following business activities necessary for people’s preparation for old age, the Minister of Health and Welfare shall designate and operate a central support center for preparation for old age (hereinafter referred to as "central center") within the National Pension Service established under the National Pension Act: <Amended on Dec. 21, 2021>
1. Training and management of old age preparation service providers;
2. Survey, research, and education on old age preparation services;
3. Public relations and international cooperation for old age preparation services;
4. Development and distribution of programs and educational courses for old age preparation service;
5. Other business activities prescribed by Presidential Decree as necessary to support for preparation for old age.
(2) The head of the central center shall obtain approval of its annual business plan, budget, and accounts from the Minister of Health and Welfare and report its performance on a regular basis.
(3) The State may partially or entirely subsidize the costs incurred by the central center in the performance of its activities.
(4) Matters necessary for the designation, operation, etc. of the central center shall be prescribed by Presidential Decree.
Articles 9-2 (Metropolitan support center for preparation for old age) (1) The Mayor/Do Governor may designate and operate a corporation, a public institution (including a branch office thereof) under the Act on the Management of Public Institutions, etc., which directly conducts the following business activities necessary for people's preparation for old age, or to which a local government contributes or provides subsidies for expenses, as a metropolitan support center for preparation for old age (hereinafter referred to as "metropolitan center"). In such cases, the Mayor/Do Governor may designate and operate more than one metropolitan support centers:
1. Development and distribution of region-specific programs for old age preparation service and laying out the foundations therefor;
2. Matters relating to support for and cooperation with community support centers for preparation for old age;
3. Provision and linkage of old age preparation service;
Article 10(Community support centers for preparation for old age) #
(1) The head of a Si/Gun/Gu (the head of a Gu refers to the head of an autonomous Gu; hereinafter the same shall apply) may designate and operate a corporation, a public institution (including a branch office thereof) under the Act on the Management of Public Institutions, a social welfare corporation, social welfare facility, or community welfare center defined in Article 2 of the Social Welfare Services Act, etc., which directly conducts the following business activities necessary for people's preparation for old age, or to which a local government contributes or provides subsidies for expenses, as a community support center for preparation for old age (hereinafter referred to as "community center"). In such cases, the head of a Si/Gun/Gu may designate and operate more than one community centers: <Amended on Dec. 21, 2021>
1. Provision and linkage of old age preparation service;
2. Public relations for old age preparation service and raising awareness for preparation for old age;
3. Other business activities prescribed by Presidential Decree as necessary to support preparation for old age.
(2) The head of a Si/Gun/Gu may organize and operate a community consultative body for preparation for old age to promote cooperation among relevant institutions to support old age preparation service. <Amended on Dec. 21, 2021>
(3) The State and local governments may fully or partially bear the expenses incurred in performing business activities of the community centers. <Amended on Dec. 21, 2021>
(4) Other matters necessary for application procedures, criteria and procedures for designation, evaluation methods, procedures for discontinuance, suspension, and resumption, etc. of the community centers shall be prescribed by Presidential Decree. <Amended on Dec. 21, 2021>
Article 10-2(Evaluation of performance of old age preparation projects) #
(1) The Minister of Health and Welfare may evaluate the appropriateness, etc. of the implementation of old age preparation projects of the metropolitan centers and community centers, and may publish the evaluation results.
(2) The Minister of Health and Welfare may entrust the central center with the evaluation affairs under paragraph (1).
[This Article Added on Dec. 21, 2021]
Article 11(Old age preparation service providers) #
(1) The Minister of Health and Welfare shall provide education to train old age preparation service providers, who perform diagnosis, counseling, education, etc. related to preparation for old age at the central center, metropolitan centers, or community centers. <Amended on Dec. 21, 2021>
(2) Old age preparation service providers shall complete education provided under paragraph (1) and receive refresher training on a regular basis.
(3) The Minister of Health and Welfare may commission relevant agencies or organizations prescribed by Presidential Decree, including universities and colleges defined in subparagraphs 1 and 4 of Article 2 of the Higher Education Act, to provide education and training courses under paragraphs (1) and (2).
(4) Necessary matters relating to the targets, time period, content, methods, procedures, etc. of education and training under paragraphs (1) and (2) shall be prescribed by Decree of the Ministry of Health and Welfare.
Article 12(Grounds for disqualification) #
(1) None of the following persons shall become an old age preparation service provider: <Amended on Sep. 20, 2024>
1. A person under 18 years of age;
2. A person under adult guardianship or under limited guardianship;
3. A person who was declared bankrupt and has not been reinstated;
4. A person in whose case his or her imprisonment without labor or heavier punishment declared by a court has not completely been executed or exempted;
5. A person whose qualification is lost or suspended according to decision made by a court;
6. An addict of narcotics defined in subparagraph 1 of Article 2 of the Narcotics Control Act.
(2) The Minister of Health and Welfare may request relevant administrative agencies to submit data or materials for verification of facts described in paragraph (1), and the agencies so requested shall comply therewith except for extenuating circumstances.
Article 13(Prohibited acts) #
An old age preparation service provider shall not engage in the following activities in the course of performing his or her duty:
1. Introducing a specific company or its executive or employee (including an insurance solicitor, insurance agency, and certified insurance broker defined in Article 2 of the Insurance Business Act) for his or her own interest or for the interest of any third party;
2. Introducing any financial product of a specific company, or soliciting or helping purchase such product.
Article 14(Information protection) #
Any person currently or formerly employed by the central center, metropolitan centers, or community centers shall not disclose confidential information which has come to his or her knowledge in the course of performing his or her duty without good cause. <Amended on Dec. 21, 2021>
[Title Amended on Dec. 21, 2021]
Article 15(Establishment and operation of integrated information system for preparation for old age) #
(1) In order to effectively handle and manage relevant data and information necessary to support preparation for old ag, the Minister of Health and Welfare may establish and operate an integrated information system for preparation for old age, as prescribed by Presidential Decree.
(2) If necessary to establish an integrated information system for preparation for old age, the Minister of Health and Welfare may request the central administrative agencies, local governments, and public institutions established under the Act on the Management of Public Institutions to provide data on health, leisure, etc. which are prescribed by Presidential Decree. In such cases, an institution upon receipt of the request shall comply therewith, unless there is a compelling reason not to do so. <Amended on Dec. 21, 2021>
Article 16(Provision of information on pension insurance) #
(1) Where it is necessary to operate the integrated information system for preparation for old age, the Minister of Health and Welfare may request the head of a central administrative agency, the head of a public institution under the Act on the Management of Public Institutions, and the head of a financial company, etc. under subparagraph 1 of Article 2 of the Act on Real Name Financial Transactions and Confidentiality, by an electronic form of documents converted from a written consent submitted by an applicant for old age preparation service, to provide the data or information prescribed by Presidential Decree, which falls under the following insurance, etc. (hereinafter referred to as "information on pension insurance, etc."): <Amended on Dec. 21, 2021>
1. Pension insurance referred to in Article 4 (1) 1 (b) of the Insurance Business Act;
2. Pension savings account and retirement pension account under Article 20-3 of the Income Tax Act;
3. Guarantee for a reverse annuity mortgage defined in subparagraph 8-2 of Article 2 of the Korea Housing Finance Corporation Act;
4. Farmland pension under Article 24-5 of the Korea Rural Community Corporation and Farmland Management Fund Act;
5. Remunerations referred to in Article 28 of the Public Officials Pension Act, Article 7 of the Military Pension Act, Article 33 of the Pension for Private School Teachers and Staff Act, and Article 24 of the Special Post Offices Act.
(2) The written consent referred to in paragraph (1) shall be prepared by the purchaser or account owner him or herself, and other details for preparing such consent shall be prescribed by Presidential Decree.
(3) Notwithstanding Article 4 of the Act on Real Name Financial Transactions and Confidentiality, the head of a financial company, etc. upon receipt of a request to provide information on pension insurance, etc. under paragraph (1) shall provide the information on pension insurance, etc. of the relevant purchaser or account owner. <Amended on Dec. 21, 2021>
(4) Notwithstanding Article 4-2 (1) of the Act on Real Name Financial Transactions and Confidentiality, the head of a financial company, etc. who provides information on pension insurance, etc. under paragraph (3) need not notify the relevant purchaser or account owner of the fact of providing information on pension insurance, etc.; provided, he or she shall notify the fact of providing information upon request by the relevant purchaser or account owner. <Amended on Dec. 21, 2021>
Article 17(Restriction on use of information) #
(1) The Minister of Health and Welfare shall not use information acquired in the course of providing an old age preparation service for any purpose other than the following purposes:
1. Establishing policies to support preparation for old age, including the national pension scheme, and compiling relevant statistics;
2. Conducting research for improving and evaluating a specific old age preparation service.
(2) When using information on old age preparation service under paragraph (1), the Minister of Health and Welfare shall protect information to make sure the privacy of the relevant person is not invaded.
(3) The Minister of Health and Welfare shall not retain information on old age preparation service provided under this Act for a period exceeding five years, except for such information as required to provide an old age preparation service. In such cases, when the retention period expires, the relevant information on old age preparation service shall be destroyed without delay.
Article 18(Reporting and inspections) #
(1) The Minister of Health and Welfare may order the central center, a metropolitan center, or a community center to report its business affairs or submit related data, direct public officials under his or her jurisdiction to access the relevant site or inspect relevant documents, or take other necessary measures. <Amended on Dec. 21, 2021>
(2) The Mayor/Do Governor or the head of a Si/Gun/Gu (limited to community centers) may order a metropolitan center or community center to report its business affairs or submit related data, direct public officials under his or her jurisdiction to access the relevant site or inspect relevant documents, or take other necessary measures. <Added on Dec. 21, 2021>
(3) A relevant public official who accesses the site or conducts an inspection pursuant to paragraph (1) or (2) shall carry identification indicating his or her authority and present it to relevant persons. <Amended on Dec. 21, 2021>
Article 19(Corrective order) #
Where a metropolitan center or a community center falls under any of the following cases, the Mayor/Do Governor (limited to a metropolitan center) or the head of a Si/Gun/Gu (limited to a community center) may order the metropolitan center or the community center to take corrective measures for a specified period: <Amended on Dec. 21, 2021>
1. Where it fails to meet the criteria for designation referred to in Article 9-2 (4) or Article 10 (4);
2. Where it fails to comply with an order to file a report or submit data, etc. under Article 18 (2);
3. Where it fails to comply with matters prescribed by this Act.
Article 20(Revocation of designation) #
(1) Where any metropolitan center or community center falls under any of the following cases, the Mayor/Do Governor (limited to a metropolitan center) or the head of a Si/Gun/Gu (limited to a community center) may revoke its designation or issue an order to suspend its provision of old age preparation service for a specified period not exceeding six months; provided, he or she shall revoke the designation where it falls under subparagraph 1: <Amended on Dec. 21, 2021>
1. Where it has been designated by fraud or other improper means;
2. Where it does not perform the designated activities for at least one month without good cause;
3. Where the evaluation results under Article 10-2 (1) are found to fall short of the standards, or where it resists an evaluation or fabricates the performance records;
4. Where it fails to comply with a corrective order issued under Article 19 within a specified period.
(2) A Mayor/Do Governor or the head of a Si/Gun/Gu shall hold a hearing to revoke the designation of a metropolitan center or a community center or to issue an order for business suspension under paragraph (1). <Amended on Dec. 21, 2021>
(3) Detailed criteria for revoking designation and issuing business suspension order under paragraph (1) shall be prescribed by Presidential Decree.
(4) No person whose designation as a metropolitan center or community center is revoked under paragraph (1) shall be re-designated as a metropolitan center or a community center within two years from the date its designation is revoked. <Amended on Dec. 21, 2021>
Article 21(Prohibition against use of similar names) #
(1) No person, other than the central support center for preparation for old age, metropolitan centers for preparation for old age, and community centers for preparation for old age under Articles 9, 9-2, and 10 (hereafter in this Article referred to as "support center for preparation for old age"), shall use the name "support center for preparation for old age" or any similar name. <Amended on Dec. 21, 2021>
(2) No person other than the support center for preparation for old age shall place an indication or advertisement that could mislead people to believe such person has been designated as a support center for preparation for old age.
Article 22(Penalty provisions) #
Any of the following persons shall be punished by imprisonment with labor for not more than five years or by a fine not exceeding 50 million won:
1. A person who commits a prohibited act in violation of Article 13;
2. A person who divulges information in violation of Article 14.
Article 23(Administrative fines) #
(1) Any of the following persons shall be subject to an administrative fine not exceeding five million won: <Amended on Dec. 21, 2021>
1. A person who refuses to provide information in violation of Article 16 (3);
2. A person who resists or obstructs measures such as reporting or inspection under Article 18 (1) and (2);
3. A person who commits a prohibited act in violation of Article 21.
(2) Administrative fines under paragraph (1) shall be imposed and collected by the Minister of Health and Welfare, as prescribed by Presidential Decree.