Applicable Subjects

The individuals covered by the farmers' health insurance and aged under 65 may apply to make payments to the pension fund at his/her own discretion, if he/she has not yet received and old-age benefits from related social insurance programs (civil servant and teacher insurance pension benefits, labor insurance old-age benefits, retirement benefits under the military personnel insurance, and the old-age pension benefit under the national pension insurance program).

According to the relaxed regulations taking effect on January 25, 2022, young veterans who have already collected retirement benefits under the military personnel insurance but not eligible for the  lifetime monthly pensions are now entitled to contribute to the farmers' pension fund, if they are covered by the farmers' health insurance based on Article 5-1 of the Farmers' Health Insurance Act. They are no longer subject to the restriction that they should not have received any old-age benefits from related social insurance programs.

Once a farmer has commenced making payments to the farmer pension fund, he/she shall remain insured under the farmers' health insurance. If a farmer has withdrawn therefrom, he/she shall no longer be eligible for making the payments. For cases involving a backdated withdrawal, the BLI shall close the individual pension account and return the amount deposited during the non-eligible period respectively to the insured and the competent authority.