NPS Moves Forward ‘to Offer Pension for People’s Happiness and Shared Growth’

Chairman & CEO Kim Tae-hyun of the National Pension Service (NPS). (Photos: NPS)

In his New Year’s message delivered at a ceremony to kick off the 2023 business year at NPS headquarters on Jan. 2, CEO Kim Tae-hyun of the National Pension Service said, “Now that now is a watershed of seeing whether the sustainability of the national fund is attainted, NPS will turn over a new leaf on reform of the fund based on shared growth this year.”

To this end, NPS Chairman Kim proposed tasks NPS will implement this year - backing pension reform based on shared growth, stabilizing fund management, offering efficient national pension services and expanding people’s benefits, and strengthening welfare projects.

First, he said NPS will prioritize social consensus through public relations related to fund reform and formation of affirmative opinions so that all things on the government’s fiscal estimation, institutional reform and the development of fund management can be wrapped up seamlessly on top of the reform of the national fund based on shared growth, being discussed at the National Assembly.

Second, Chairman Kim said NPS will redouble efforts to raise the stable earnings of the national fund, people’s precious assets by inaugurating a tax entity specializing in fund management and conducting thorough risk management and aggressive crisis responses.

Third, he said, NPS will make efforts to bring benefits to more people by improving public convenience through continued national pension service improvement, internalizing district subscribers’ premium support system and efficient subscription.

Fourth, he called for continuing to expand and ramp up welfare services people want, with a focus on the “Welfare Business Center” inaugurated this year.

Lastly, Chairman Kim urged executives and staff to establish a responsible and efficient NPS by practicing anti-corruption, integrity and ethics management.

Public pension fund experts discuss ways of coping with fund problems at The National Pension Experts Forum took place at Westin Josun Seoul on Jan. 10.

NPS Holds National Pension Experts’ Forum

The National Pension Experts Forum took place under the theme “Social and Economic Environment Changes and Public Pension’s Responses” at Westin Josun Seoul on Jan. 10.

The forum was hosted by the Ministry of Health and Welfare (MOHW) and organized by National Pension Research Institute.

Among the speakers of the forum were Dir.-Gen. Lee Su-ran of the Pension Policy Bureau at MOHW, President Kwon Moon-il of the National Pension Research Institute, Prof. Kim Won-sup of Korea National University, Prof. Kim Soo-wan of Gangnam University, Prof. Kang Sung-ho of Korea Insurance Research Institute.

With the full discussion of the fifth fiscal estimation of the national pension, the forum had already taken place under themes such as basic pension and national pension and the sustainability of the national pension to lay groundwork to discuss major issues on the reforming of the national pension system.

During the latest forum, experts discussed on social and economic environment changes and the public pension’s responses, such as ways of building the “Multi-Pillar System of Old Age Income Security.”