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.
The terms used in this Act are defined as follows:
| 1. | The term “preparation for old age” means any proactive action against poverty, disease, idleness, loneliness, etc. that one might take in old age; |
| 2. | The term “old age preparation service" means diagnosis, counseling, education, referral to relevant agencies, follow-up management, etc. provided for proper preparation for old age in areas such as finance, health, leisure, and interpersonal relations. |
| Article 3 (Duties and Responsibilities of State, etc.) |
| (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 old age and shall endeavor to encourage and support his/her employees in preparing for their old age. |
| Article 4 (Relationship with Other Acts) |
Except as expressly provided for in any other Act, this Act shall govern concerning support for preparation for old age.
| Article 5 (Formulation of Master Plans) |
| (1) | The Minister of Health and Welfare shall formulate a master plan for supporting preparation for old age (hereinafter referred to as “master plan”) every five years, in consultation with the heads of relevant central administrative agencies. |
| (2) | The master plan shall include the following: |
| 1. | Basic direction-setting for policies to support preparation for old age; |
| 2. | Matters on establishing infrastructure to support preparation for old age, including support centers for preparation for old age; |
| 3. | Matters on developing and distributing programs necessary to support preparation for old age 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 Minister of Health and Welfare may request relevant administrative agencies, public organizations, etc. to submit relevant data or materials if necessary to formulate a master plan, and the agencies, etc. in receipt of such request shall comply therewith except for extenuating circumstances. |
| (4) | Matters necessary to formulate and implement master plans shall be prescribed by Presidential Decree. |
| Article 6 (Activities to Support Preparation for Old Age) |
The Minister of Health and Welfare shall engage in the following activities to support people’s preparation for their old age:
| 1. | Raising awareness for preparation for old age; |
| 2. | Investigating, researching, compiling, and educating on the statistics on the actual status of preparation for old age; |
| 3. | Providing and developing programs for old age preparation service; |
| 4. | Designating and evaluating the central support center for preparation for old age and local support centers for preparation for old age; |
| 5. | Training and managing old age preparation service providers; |
| 6. | Building and operating an information system necessary to provide old age preparation services; |
| 7. | Publicizing, and conducting international cooperation activities on old age preparation services; |
| 8. | Other activities acknowledged 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 Ordinance of the Ministry of Health and Welfare. |
| Article 8 (National Old Age Preparation Committee) |
| (1) | There is hereby established National Old Age Preparation Committee in the Ministry of Health and Welfare in order to deliberate on matters relating to preparation for old age. |
| (2) | The National Old Age Preparation Committee shall deliberate on the following: |
| 2. | Old age preparation index; |
| 3. | Role allocation and policy coordination between public and private sectors; |
| 4. | Matters on providing old age preparation services; |
| 5. | Matters on the central support center for preparation for old age and local support centers for preparation for old age; |
| 6. | Other matters relating to preparation for old age referred by the chairperson to the Committee for resolution. |
| (3) | The National Old Age Preparation Committee shall consist of no more than 15 persons, including the chairperson; members shall be commissioned and nominated by the Minister of Health and Welfare from among the following persons; and the Vice Minister of Health and Welfare shall take the chair: |
| 1. | Experts in preparation for old age or social welfare; |
| 2. | Public officials in general service belonging to the Senior Civil Service of relevant administrative agencies; |
| 3. | The head of the central support center for preparation for old age; |
| 4. | Other persons with abundant expertise and experience in preparation for old age. |
| (4) | Matters necessary to constitute and operate the National Old Age Preparation Committee shall be prescribed by Presidential Decree. |
| 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 the central support center for preparation for old age (hereinafter referred to as the “central center”) in the National Pension Corporation established under the National Pension Act: |
| 1. | Training and managing old age preparation service providers; |
| 2. | Investigating, researching, and educating on old age preparation services; |
| 3. | Publicizing and conducting international cooperation activities on old age preparation services; |
| 4. | Developing and disseminating programs and educational curricula for old age preparation services; |
| 5. | Assessing local support centers for preparation for old age; |
| 6. | Other activities necessary to support preparation for old age determined by Presidential Decree. |
| (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. |
| Article 10 (Local Support Centers for Preparation for Old Age) |
| (1) | If a public institution established under the Act on the Management of Public Institutions wishes to provide old age preparation services, it shall be designated as a local support center for preparation for old age (hereinafter referred to as “local center”) by filing an application with the Minister of Health and Welfare. |
| (2) | Local centers shall engage in the following business activities: |
| 1. | Providing old age preparation services; |
| 2. | Publicizing old age preparation services and raising awareness for preparation for old age; |
| 3. | Other activities determined by Presidential Decree as necessary to support preparation for old age. |
| (3) | A local center shall, in principle, be designated for each Si/Gun/Gu but, if necessary, two or more Sis/Guns/Gus may be bound together to be designated for a broader zone. |
| (4) | If the head of a local center intends to suspend or discontinue the operation of the local center for a certain period of time, or resume its operation, he/she shall report to the Minister of Health and Welfare in advance. |
| (5) | The Minister of Health and Welfare may assess the quality of old age preparation services provided by local centers and disclose the results thereof. |
| (6) | The State and local governments may partially or entirely subsidize the costs incurred by local centers in the performance of their business activities. |
| (7) | Necessary matters relating to the designation requirements, methods of assessment, and procedures for the discontinuance, suspension, and resumption of local centers, and other necessary matters shall be prescribed by Presidential Decree. |
| Article 11 (Old Age Preparation Service Providers) |
| (1) | The Minister of Health and Welfare shall provide education to prepare old age preparation service providers. |
| (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 subparagrahs 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 Ordinance of the Ministry of Health and Welfare. |
| Article 12 (Disqualification) |
| (1) | None of the following persons shall become an old age preparation service provider: |
| 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/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; |
| (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 Activities) |
An old age preparation service provider shall not engage in the following activities in the course of performing his/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/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 (Prohibition against Disclosure of Information) |
A person currently or formerly employed by the central center or any local center shall not disclose confidential information which has come to his/her knowledge in the course of performing his/her duty without due cause.
| 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 age, the Minister of Health and Welfare may establish and operate an integrated system for preparation for old age, as prescribed by Presidential Decree. |
| (2) | If necessary to establish the integrated system for preparation for old age, the Minister of Health and Welfare may request that any central administrative agency, local government, and public institution established under the Act on the Management of Public Institutions provide data or materials prescribed by Presidential Decree, including information on health and leisure. In such cases, the agency, etc. so requested shall faithfully comply therewith. |
| Article 16 (Provision, etc. of Information on Pension Insurance) |
| (1) | If necessary for operation of the integrated system for preparation for old age, the Minister of Health and Welfare may request, with a written consent (converted to electronic form) by an applicant in concern for old age preparation service, that the head of the relevant financial company, etc. provide data or information prescribed by Presidential Decree (hereinafter referred to as “information on pension insurance”), including whether the applicant has purchased any policy of pension insurance defined in Article 4 (1) 1 (b) of the Insurance Business Act or opened any pension account and/or retirement pension account referred to in Article 20-3 of the Income Tax Act. |
| (2) | The written consent referred to in paragraph (1) shall be prepared by the purchaser or account owner him/herself, and other details for preparing such consent shall be prescribed by Presidential Decree. |
| (6) | Other matters necessary for requesting information on pension insurance, providing such information, etc. shall be prescribed by Presidential Decree. |
| 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, Inspection, etc.) |
| (1) | The Minister of Health and Welfare may order the central center or any local center to report its business activities or submit data or materials; direct public officials under his/her authority to access the relevant site or to inspect the relevant documents and take other necessary measures. |
| (2) | A public official who gains access or makes inspection under paragraph (1) shall carry an identification verifying his/her authority and show it to relevant persons. |
| Article 19 (Corrective Order) |
If any local center falls under any of the following cases, the Minister of Health and Welfare may issue a corrective order with a specified period of time:
| 1. | If the local center no longer meets the designation requirements referred to in Article 10 (7); |
| 2. | If the local center fails to comply with an order to report or submit data or materials, etc. as specified in Article 18 (1); |
| 3. | If the local center fails to comply with any other provision of this Act. |
| Article 20 (Revocation of Designation, etc.) |
| (1) | If any local center falls under any of the following cases, the Minister of Health and Welfare may revoke its designation or issue an order to suspend its provision of old age preparation service for a period not exceeding six months: Provided, That the Minister shall revoke its designation if a local center falls under subparagraph 1: |
| 1. | If the local center obtains the designation deceitfully or otherwise fraudulently; |
| 2. | If the local center does not carry out the designated activities for one month or longer without due cause; |
| 3. | If the local center is found to fall short of the assessment criteria as a result of assessment under Article 10 (5); refuses the assessment; or makes up or fabricates the performance data; |
| 4. | If the local center does not carry out a corrective order issued under Article 19 within a specified period. |
| (2) | The Minister of Health and Welfare shall hold a hearing if he/she intends to revoke the designation of any local center or issue a business suspension order under paragraph (1). |
| (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 local center is revoked under paragraph (1) shall be re-designated as a local center within two years from the date its designation is revoked. |
| Article 21 (Prohibition against Use of Similar Names) |
| (1) | No person other than the central support center for preparation for old age and local support centers for preparation for old age designated under Articles 9 and 10 (hereafter referred to as “support center for preparation for old age” in this Article) shall use the name “support center for preparation for old age” or similar thereto. |
| (2) | No person other than the support center for preparation for old age shall place an indicia or advertisement that could mislead people to believe such person has been designated as a support center for preparation for old age. |
| Article 22 (Penal 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 (Fine for Negligence) |
| (1) | Any of the following persons shall be punished by a fine for negligence not exceeding five million won: |
| 1. | A person who refuses to provide information in violation of Article 16 (3); |
| 2. | A person who refuses or interferes with reporting, inspection, or any other measure taken under Article 18 (1); |
| 3. | A person who commits a prohibited act in violation of Article 21. |
| (2) | A fine for negligence under paragraph (1) shall be imposed and collected by the Minister of Health and Welfare, as prescribed by Presidential Decree. |
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force six months after the date of its promulgation.
Article 2 (Transitional Measure)
A branch office of the National Pension Service established under Article 27 (2) of the National Pension Act which is providing an old age preparation service at the time this Act enters into force shall be taken to be a local center defined in Article 10.