

Title |
The need to set a fiscal target and improve the fund governance structure of the national pension in Korea
Similar Titles
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Material Type | Article |
Author(English) |
Yun, Heesuk; Kim, Dohyung; Kim, Jonghoon |
Publisher |
[Sejong] : Korea Development Institute |
Date | 2015 |
Journal Title; Vol./Issue | KDI Focus:no. 55 |
Pages | 13 |
Subject Country | South Korea(Asia and Pacific) |
Language | English |
File Type | Documents |
Original Format | |
Subject | Economy < Financial Policy |
Holding | KDI; KDI School |
License | ![]() |
Abstract
Setting an explicit fiscal target in the pension system and implementing stronger fund governance are needed to address the concerns regarding the projected rise and fall of the National Pension Fund in Korea. Strengthening expertise and accountability of the fiduciaries is essential for a better governance structure, but their role must be confined by the mandate derived in part from the fiscal target of the pension system. Hence, setting the fiscal target, which provides a link between the pension system and pension fund governance, may be the first step to advancing the governance structure of the National Pension Fund.