S. Korea. State pension fund grows sharply over 30 years
South Korea’s state-run pension fund has posted exponential growth since its inception about 30 years ago, but it still has a long way to go in order to serve its intended purpose, analysts said Tuesday.
South Korea adopted the state pension program in 1988 to guarantee income for the elderly after retirement, and to provide coverage for disabilities and surviving family members.
According to data from the National Pension Service, the number of subscribers to the National Pension Fund came to 21.67 million as of the end of June this year, compared with 4.43 million at the time of its introduction.
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