There are three Special Profession Pensions in Korea, which are Government Employee, Private School Teachers and Military Personnel Pension. But the serious problem in pension finance has appeared in Special Profession Pensions, issued from the structural benefit-pay unbalance. Already Military Personnel Pension has been in the financial difficulties from 1977, and is given 5.4 thousands billion won from the government in 1998. Recently the financial crisis in Government Employee Pension rises as the social problem. The expenditure in Government Employee Pension is continuously increasing and has been larger than the income of that, since several years ago. In a moment, Government Employee Pension Scheme is being in the financial bankruptcy.
In this paper, we give further financial projections for Government Employee Pension and Private School Teachers Pension except for Military Personnel Pension, Also we propose a plan for healthy finance in Government Employee Pension.
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