Gyeonggi Office of Education to Integrate Retirement Benefit Management

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Gyeonggi Provincial Office of Education will integrate the management of retirement benefits for education public officials.

On the 9th, the Gyeonggi Office of Education announced that it has decided to integrate the management of retirement benefits for education public officials, currently operated separately by each institution with a scale of 4.5 trillion KRW, at the level of education (support) offices.

The Gyeonggi Office of Education expects this measure to reduce fees for pension operation and asset management, simplify the transfer and settlement procedures of retirement benefit reserves that occur during personnel transfers between institutions, and alleviate administrative tasks.

To promote integrated management, the Gyeonggi Office of Education has formed a dedicated team consisting of 15 members, including officials from the education office and education support offices, as well as school administrative directors. The dedicated team will operate until the end of November.

The dedicated team will hold its first meeting on the 10th of this month to explore efficient management methods for retirement benefits of education public officials and prepare improvement plans such as integrated management through analysis of management entities.

Woo Ho-sam, Director of Labor-Management Cooperation at the Gyeonggi Office of Education, emphasized, "As retirement benefits for education public officials expand, it is necessary to prepare efficient and effective system improvement plans," adding, "We will actively strive for stable operation of retirement benefits and reduction of school administrative tasks through the promotion of integrated management of retirement benefits."

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