Details are as follows:
1. Insurer: Samsung Life Insurance
2. Type of Pension Policy: Retirement pension policy
3. Terms and Conditions
- Retirement Pension Premium: KRW 527.7 billion
• Actual payment would amount to KRW 433.5 billion after deducting
KRW 94.2 billion in accruals of interests, etc.
- Retirement Pension Claim: Samsung Life Insurance will pay 80% of severance pay when a Samsung Electronics employee leaves the company
4. The purchase of retirement pension policy aims to manage severance pay in a stable manner and improve profitability of the asset.
December 03, 2012
Purchase of Retirement Pension Policy
On December 3, 2012, the Board of Directors of Samsung Electronics authorized the purchase of a retirement pension policy.
