Gyoyukwon Gongjehoe "Get a Resort Accommodation Voucher When You Choose to Split Your Severance Pay"

Installment Benefit Enrollment Event for Long-term Savings Members
Prizes Include Saipan Resort Vouchers and Health Check-up Certificates

The Korea Teachers' Credit Union will provide various prizes, including resort vouchers, to members who receive long-term savings benefits and retirement benefits in installments over a certain period.

On the 17th, the Korea Teachers' Credit Union announced that it will hold this installment benefit enrollment event considering the period at the end of February when many teachers retire due to reaching the mandatory retirement age or honorary retirement.

The installment payment of long-term savings benefits is a pension-type system designed to help members secure stable cash after retirement and enjoy their later years. Instead of receiving the retirement funds prepared through long-term savings benefits in a lump sum while still employed, members receive a certain amount of their retirement benefits in installments over a predetermined period. Enrollment can only be made once at the time of retirement claim. Advantages include an annual compound interest rate of about 4.90%, low tax rates (0~3%), and exemption from comprehensive financial income taxation.

If members enroll in the installment benefits and enter the event through the homepage or mobile application (app) by the 7th of next month, they will be entered into a drawing to win prizes such as ▲Saipan World Resort accommodation vouchers (5 winners, worth approximately 1.5 million KRW) ▲Infinity Care health check-up vouchers (20 winners, worth approximately 500,000 KRW) ▲The K Mall points worth 30,000 KRW (1,000 winners). As of the previous day, 3,002 out of about 8,000 members scheduled to retire have applied.

Meanwhile, the Credit Union is also holding retirement briefing sessions at 14 branches nationwide. These sessions include explanations of the installment benefit system and the event, as well as lectures on retirement planning. Those wishing to attend can contact the Credit Union call center.

Jung Gap-yoon, Chairman of the Credit Union, stated, "We will strive to be a reliable partner in preparing for a secure retirement even after retirement."