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KMID : 1001320130400030375
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Social Welfare Policy
2013 Volume.40 No. 3 p.375 ~ p.403
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An Evaluation for Basic Pension Plan of the Park Gun Hae Government Transition Team: Focusing on Building of Multi-Pillar Pension System in Korea
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Kim Yeon-Myung
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Abstract
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The purpose of this paper is to give a critical review of basic pension plan proposed by the Park Gun Hae government transition team. The plan suggests a coverage extension and an increasing of pension amounts of the existing basic old-age pension. However, the plan can cause not only contribution evasions of low-incomer among the National Pension Scheme affiliates but cut pension payments of the National Pension Scheme. Thus, the plan could undermine viability of the National Pension Scheme This paper argues that reforming of the basic old-age pension should focus on complementing the National Pension Scheme rather than replacing it. Particularly, this paper suggests that a main priority should be to ensure the adequacy of pension amouts in the process of public pension reform.
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KEYWORD
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National Pension Scheme, Basic Pension, Basic Old-Age Pension
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