|
KMID : 1124019980140020171
|
|
Korean Social Security Studies
1998 Volume.14 No. 2 p.171 ~ p.205
|
|
|
A Critical Consideration on Privatizing the National Pension System in Korea
|
|
|
|
|
Abstract
|
|
|
The purpose of this paper is to examine critically the recent debates on privatizing of the National Pension System(NPS) in Korea. The paper is developed through both a critical examination of the rationales for the privatization and a case study on Chilean Pension Reform of 1981.
The theoretical examination leads me to the conclusion that the Rationales for supporting a privatization. of the public pension system are those like immunity of the private system related to demographic change, admistrative efficiency, its positive effects on the economic growth etc. and those rationals are not correct.
The Chilean case is often cited to support the arguments for privatizing the public pension system. However, as the Chilean Pension Reform in 1981 was the last alternative for Chile to solve the financial problems of the old public pension system, the Chilean model is not regarded as an adequate one to reform not only the public pension system generally, but also the NPS in Korea specially.
A substitution of the public pension system to the private one does not guarantee to improve individual and national prosperities. It does not also help to reduce the distribution conflict and the financial problem of the public pension system related to demographical change and economic recession. Therefore, it is not regarded that privatization is the best alternative to reform the public pension system of Korea.
|
|
|
KEYWORD
|
|
|
|
|
|
FullTexts / Linksout information
|
|
|
|
|
|
Listed journal information
|
|
|