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KMID : 1124020150310010001
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Korean Social Security Studies
2015 Volume.31 No. 1 p.1 ~ p.26
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German Government Employees Pension Scheme Reform And Its Implications
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Kim Sang-Ho
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Abstract
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German Government Employees Pension Scheme is based on the alimentation principle while the public pension scheme is based on the Bismarckian social insurance principle. Despite this basic difference, the reform measures of the public pension for financial stabilization since 1992 are transferred to the Government Employees Pension in the form of the same effect. According to the law of Government Employees Pension Reform in 2006, a fully funded reserve for lessening fiscal distress in the future began to be accumulated. That reform is classified as a turning point toward fundermental reforms. The implications of this research are as following. First, the reform trend of the National Pension Scheme needs to be considered in the Government Employees Pension Scheme reform discussion to keep up with one another. Second, it is desirable to build a fund for the time of financial unstability in the future. Third, shared duties in the shareholders such as pensioners, civil servants, and the government, should be taken into consideration in order to ease future financial burden effectively. Fourth, introduction of a fully funded system should be examined thoroughly in order to enforce the actuary and financial basis of the Government Employees Pension Scheme.
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KEYWORD
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Government Employees Pension Scheme, pension reform, National Pension Scheme, financial stability, sustainability
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