Republic of Korea; Selected Issues

This Selected Issues paper highlights that the authorities in the Republic of Korea recognize the pension policy challenges ahead, and a first wave of reforms has already been launched. Despite the reforms to date, much remains to be done. Without further reforms, the public pension systems in Korea are not financially sustainable. This paper considers options for moving to a funded first-pillar pension system. The main results show that a sustainable, funded pension system can be achieved in Korea with reasonably modest changes to key parameters and extra financing.

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Year of publication:	2003-03-19
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Economic conditions \| pension \| pension system \| retirement \| contribution rate \| public pension \| pension systems \| public pension systems \| pillar system \| national pension \| retirement income \| aging \| pension reform \| contribution rates \| retirement age \| pension fund \| public pension system \| social security \| social insurance \| occupational schemes \| pension scheme \| national pension scheme \| pillar pension \| life expectancy \| current pension \| pensions \| elderly \| pension expenditures \| retirement income system \| future pension \| retirement accounts \| pension fund asset \| national pension fund \| private pensions \| aging population \| pillar ? system \| pension assets \| pension funds \| defined benefit \| pension asset \| labor force \| funded pension \| pension contributions \| pension accounts \| labor force participation \| old age \| defined-benefit schemes \| average pension \| pillar systems \| bargaining \| asset managers \| occupational pension \| insurance companies \| contribution increases \| aging society \| pension benefits \| pension system reforms \| private savings \| private pension \| dependency \| individual retirement \| pension reforms \| employees pension \| public system \| source of retirement income \| defined contribution plan \| retirement system \| pension wealth \| dependency ratio \| active investment \| individual pension accounts \| pension policy \| occupational pension plans \| individual retirement accounts \| retirement decision \| pension reform strategies \| social security benefits \| pension schemes \| pensioners \| public pension schemes \| tax rates \| ageing \| value of pension \| pension contribution \| replacement rate \| benefit schemes \| pension plans \| investment returns \| pension provision \| individual pension \| social insurance scheme

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 03/80 6 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005768475