SEOUL, Aug. 9 (Korea Bizwire) — More South Koreans aged over 60 are voluntarily subscribing to the state pension in a bid to better provide for their future years, data showed Friday. The number of “voluntary and continuous subscribers” to the pension plan came to 483,326 as of the end of April this year, up [...]
SEOUL, May 29 (Korea Bizwire) — South Korea’s state pension operator cut the number of listed firms in which it has a stake of 5 percent or more in the first quarter of the year in an apparent bid to boost its investment returns, a corporate tracker said Wednesday. The National Pension Service (NPS) owned [...]
SEOUL, May 24 (Korea Bizwire) — At 62, Kim Byung-jong reached public pension age last month. Instead of automatically taking the state pension, Kim, a retired car salesman, asked the National Pension Service (NPS), the operator of South Korea’s state pension fund, to defer his pension for five years. The reason? Delaying his pension will [...]
SEOUL, Feb. 1 (Korea Bizwire) — South Korea’s state pension operator has decided to exercise its shareholders’ rights over Hanjin KAL, the holding firm of national flag carrier Korean Air Lines Co., the welfare ministry said Friday. The National Pension Service (NPS) made the decision in the state fund’s management committee, led by Health and [...]
SEOUL, Sept. 14 (Korea Bizwire) — The corporate value of more than 6 out of 10 firms in which South Korea’s state pension operator invests has risen since its introduction of the so-called stewardship code in late July, a report said Friday. The National Pension Service (NPS) adopted the stewardship code on July 30, which [...]
SEOUL, Sept. 4 (Korea Bizwire) – What do insurance planners, delivery workers, golf caddies, home-school teachers, and designated drivers have in common in Korea? The answer is that they are subscribed as “individual contributors” to the national pension plan. This may change, however, says National Pension Service (NPS) and Ministry of Health and Welfare (MOHW). The [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s state pension fund is on course to be depleted in 2057 under the existing system, studies showed Friday, with the pension operator suggesting two major options to keep it running. According to the latest studies conducted by the National Pension Service (NPS), also the country’s top institutional [...]
SEOUL, Aug. 11 (Korea Bizwire) — With an increasing number of South Koreans beginning to believe the argument that the national pension fund will be depleted around 2056 or 2057, which is three to four years earlier than previous estimates, worry over not being able to receive a proper pension is spreading among the general [...]
SEOUL, Aug. 9 (Korea Bizwire) — With worry by the public over the depletion of the national pension fund becoming more widespread, many critics are saying that the monthly subsidies provided to retired senior citizens may become “mere pocket money,” unable to cover the most basic daily expenses in the future. According to the Ministry [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s national pension could run out of money by 2056 or 2057 if current financial conditions continue, three to four years earlier than previously projected by the government, official sources said Thursday. The government conducts reviews on the financial soundness of the National Pension Service (NPS) every five [...]