Pension Reform Report for 2030
 |
Description
Book Introduction
National pension reform is a critical task that will determine not only the individual's retirement but also the sustainability of society as a whole.
However, the discussion often becomes stagnant due to vested interests or drifts among alternatives that are out of touch with reality.
This book, "Pension Reform Report for 2030," will serve as a guide, offering the most practical and realistic solutions amidst the confusion of such discussions.
In this book, author Jang Jae-hyeok understands the problems with Korea's national pension system and the public's anxieties, and explains in detail how pension reform can be implemented in a way that benefits the public.
There are common concerns that pension reform will lead to a structure where people pay more and receive less, but the author emphasizes that combining premium increases with the use of massive fund profits can reduce the burden while maintaining the national pension's earnings ratio.
In particular, the method of using overseas investment profits to pay pensions to domestic citizens is an alternative model that is difficult to find in existing pension reform discussions, and is said to be a way to maximize profits.
The most important point of this book is to clearly present that pension reform can be a 'benefit' rather than a 'burden' on the people.
This book is different in that it goes beyond simply asserting the need for reform, but also clearly states that there is an "end" to pension reform and presents a long-term vision.
They argue that pension reform is not a short-term response, but should aim to prevent the expected depletion of the National Pension Fund in 2056 and achieve sustainable fund management until 2105.
Furthermore, rather than simply raising insurance premiums, the company proposes a plan to simultaneously achieve financial stability and increase pension benefits through a new fund management model that utilizes overseas investment profits.
So, this book is for middle-aged people who are preparing for their impending retirement, young couples who have just gotten married, bought a house, and are planning for their future, young people who are interested in pensions as well as investments, but have strong distrust and dissatisfaction with the depletion of the national pension, the elderly who are already receiving pensions, and elementary, middle, and high school students who need early financial education.
However, the discussion often becomes stagnant due to vested interests or drifts among alternatives that are out of touch with reality.
This book, "Pension Reform Report for 2030," will serve as a guide, offering the most practical and realistic solutions amidst the confusion of such discussions.
In this book, author Jang Jae-hyeok understands the problems with Korea's national pension system and the public's anxieties, and explains in detail how pension reform can be implemented in a way that benefits the public.
There are common concerns that pension reform will lead to a structure where people pay more and receive less, but the author emphasizes that combining premium increases with the use of massive fund profits can reduce the burden while maintaining the national pension's earnings ratio.
In particular, the method of using overseas investment profits to pay pensions to domestic citizens is an alternative model that is difficult to find in existing pension reform discussions, and is said to be a way to maximize profits.
The most important point of this book is to clearly present that pension reform can be a 'benefit' rather than a 'burden' on the people.
This book is different in that it goes beyond simply asserting the need for reform, but also clearly states that there is an "end" to pension reform and presents a long-term vision.
They argue that pension reform is not a short-term response, but should aim to prevent the expected depletion of the National Pension Fund in 2056 and achieve sustainable fund management until 2105.
Furthermore, rather than simply raising insurance premiums, the company proposes a plan to simultaneously achieve financial stability and increase pension benefits through a new fund management model that utilizes overseas investment profits.
So, this book is for middle-aged people who are preparing for their impending retirement, young couples who have just gotten married, bought a house, and are planning for their future, young people who are interested in pensions as well as investments, but have strong distrust and dissatisfaction with the depletion of the national pension, the elderly who are already receiving pensions, and elementary, middle, and high school students who need early financial education.
- You can preview some of the book's contents.
Preview
index
Recommendation
prolog
Part 1
Chapter 1.
Pension preparation
01.
What is a pension?
02.
Why is a pension important in retirement?
03.
Where to start preparing for pension?
Chapter 2.
How to use the National Pension
01.
Companion in the 100-Year-Old Era: National Pension for Lifetime Salary
02.
Is our country's national pension an allowance pension?
03.
Advantages of the National Pension
04.
National Pension! Living longer is the biggest benefit!
05.
How to get more national pension?
06.
Survivors' pension and disability pension
Chapter 3.
How to Use Basic Pension, Retirement Pension, Private Pension, and Housing Pension
01.
Basic pension
02.
IRP (Individual Retirement Plan)
03.
Personal pension savings
04.
Housing pension
Chapter 4.
Pensions, taxes, health insurance premiums, and even seizure prevention
Part 1 Summary
Part 2
Chapter 1.
The Future of the National Pension
01.
Population Crisis and National Pension
02.
National Pension Service Financial Outlook
03.
The Urgency of National Pension Financial Reform
04.
What is the level of security of the National Pension?
Chapter 1 Summary
Chapter 2.
Overview of the discussions over the past two years
01.
Fifth Fiscal Statement Announcement (January 27, 2023)
02.
National Assembly 2nd Pension Reform Special Committee Civilian Advisory Committee (February 2023)
03.
Public hearing of the Ministry of Health and Welfare's "Financial Accounting Committee" (September 1, 2023)
04.
Ministry of Health and Welfare announces "National Pension Comprehensive Management Plan" (October 30, 2023)
05.
National Assembly Pension Reform Special Committee "Private Advisory Committee" Announcement (November 16, 2023)
06.
National 500-Person Public Opinion Committee (February 2024)
07.
The 21st National Assembly's final pension reform discussion (May 2024)
08.
Government Announces Pension Reform Plan (September 4, 2024)
09.
From the martial law declaration on December 3rd to the present
Chapter 3.
Key National Pension Issues and Finding a Way to Agreement
01.
Controversy over fund depletion
02.
Intergenerational equity? Intergenerational solidarity?
03.
Is it a model reform or a structural reform?
04.
Strengthening income security or prioritizing financial stability?
Chapter 4.
The prospect of resolving the demographic crisis and the success of the "pay more, get more" pension reform.
01.
Let's broaden our horizons! National Pension reform is coming to an end!
02.
Pay More, Get More Pension Reform: Canada's Path
Chapter 5.
National Pension Financial Stabilization Plan
01.
Insurance premium rate increase
The Role and Importance of Premium Increases in National Pension Financial Stabilization
The current national pension premium rate of 9% is too low!
If we don't raise insurance premiums, future generations will have to pay more!
If we raise it to 13% this time and further increase it to 15% next time (around 2035), we can avoid the fear of fund depletion!
Let's nail down the 15% cap on insurance premium increases in the National Pension Act!
The sooner the insurance premiums increase, the better!
The increase in insurance premiums is actually beneficial to those in their 20s and 30s!
If the insurance premium rate increases, how much will the actual burden increase?
Measures to alleviate the burden of insurance premium increases
02.
Utilization of the National Pension Fund
The role of the fund is very important in stabilizing the National Pension Service's finances!
National Pension Fund Management Performance and Future Goals
Efforts to further increase profitability
03.
Utilizing National Finance: Creating and Operating a Future Fund
Preemptive investment of national finances is essential for the success of this reform!
Discussions on the National Pension Fund's investment plan
Let's create and operate a 'Future Fund'!
The Effects of Creating and Operating a Future Fund
Now it's time for the government to step up.
Chapter 5 Summary
Chapter 6.
Measures to strengthen retirement income security
01.
Increase in the nominal income replacement rate of the National Pension
02.
Increase in the National Pension's real income replacement rate
03.
Basic pension increased to 400,000 won
04.
Strengthening retirement pensions
05.
Measures to provide flexibility to the national pension benefit structure
Chapter 6 Summary
Chapter 7.
Additional Measures for the Success of National Pension Reform
01.
State payment guarantee stipulated
02.
Eliminating blind spots in the national pension system
Chapter 8.
Review of structural reform measures
01. KDI's 'New Pension' Proposal
02.
Integration or linkage with civil servant pension
03.
Basic Pension Reform
Part 3
01.
The Golden Time for National Pension Reform
02.
Vision for National Pension Reform
Why haven't you succeeded so far?
A Long-Term Vision for National Pension Reform
03.
National Pension Reform for 2030
04.
Conditions that this pension reform must meet
05.
Proposed reform measures and their limitations
500-person National Public Opinion Committee (draft)
Democratic Party (plan)
Government (plan)
06.
My opinion
National Pension Reform Plan
07.
The Politics of National Pension Reform
Pension reform is politics!
Failure Factors and Success Strategies
supplement.
Pension reform cases by country
01.
Canada's pension reform
02.
Japan's pension reform
03.
French pension reform
04.
German pension reform
05.
Sweden's pension reform
06.
Chile's pension reform
07.
Greece's pension reform
Epilogue
prolog
Part 1
Chapter 1.
Pension preparation
01.
What is a pension?
02.
Why is a pension important in retirement?
03.
Where to start preparing for pension?
Chapter 2.
How to use the National Pension
01.
Companion in the 100-Year-Old Era: National Pension for Lifetime Salary
02.
Is our country's national pension an allowance pension?
03.
Advantages of the National Pension
04.
National Pension! Living longer is the biggest benefit!
05.
How to get more national pension?
06.
Survivors' pension and disability pension
Chapter 3.
How to Use Basic Pension, Retirement Pension, Private Pension, and Housing Pension
01.
Basic pension
02.
IRP (Individual Retirement Plan)
03.
Personal pension savings
04.
Housing pension
Chapter 4.
Pensions, taxes, health insurance premiums, and even seizure prevention
Part 1 Summary
Part 2
Chapter 1.
The Future of the National Pension
01.
Population Crisis and National Pension
02.
National Pension Service Financial Outlook
03.
The Urgency of National Pension Financial Reform
04.
What is the level of security of the National Pension?
Chapter 1 Summary
Chapter 2.
Overview of the discussions over the past two years
01.
Fifth Fiscal Statement Announcement (January 27, 2023)
02.
National Assembly 2nd Pension Reform Special Committee Civilian Advisory Committee (February 2023)
03.
Public hearing of the Ministry of Health and Welfare's "Financial Accounting Committee" (September 1, 2023)
04.
Ministry of Health and Welfare announces "National Pension Comprehensive Management Plan" (October 30, 2023)
05.
National Assembly Pension Reform Special Committee "Private Advisory Committee" Announcement (November 16, 2023)
06.
National 500-Person Public Opinion Committee (February 2024)
07.
The 21st National Assembly's final pension reform discussion (May 2024)
08.
Government Announces Pension Reform Plan (September 4, 2024)
09.
From the martial law declaration on December 3rd to the present
Chapter 3.
Key National Pension Issues and Finding a Way to Agreement
01.
Controversy over fund depletion
02.
Intergenerational equity? Intergenerational solidarity?
03.
Is it a model reform or a structural reform?
04.
Strengthening income security or prioritizing financial stability?
Chapter 4.
The prospect of resolving the demographic crisis and the success of the "pay more, get more" pension reform.
01.
Let's broaden our horizons! National Pension reform is coming to an end!
02.
Pay More, Get More Pension Reform: Canada's Path
Chapter 5.
National Pension Financial Stabilization Plan
01.
Insurance premium rate increase
The Role and Importance of Premium Increases in National Pension Financial Stabilization
The current national pension premium rate of 9% is too low!
If we don't raise insurance premiums, future generations will have to pay more!
If we raise it to 13% this time and further increase it to 15% next time (around 2035), we can avoid the fear of fund depletion!
Let's nail down the 15% cap on insurance premium increases in the National Pension Act!
The sooner the insurance premiums increase, the better!
The increase in insurance premiums is actually beneficial to those in their 20s and 30s!
If the insurance premium rate increases, how much will the actual burden increase?
Measures to alleviate the burden of insurance premium increases
02.
Utilization of the National Pension Fund
The role of the fund is very important in stabilizing the National Pension Service's finances!
National Pension Fund Management Performance and Future Goals
Efforts to further increase profitability
03.
Utilizing National Finance: Creating and Operating a Future Fund
Preemptive investment of national finances is essential for the success of this reform!
Discussions on the National Pension Fund's investment plan
Let's create and operate a 'Future Fund'!
The Effects of Creating and Operating a Future Fund
Now it's time for the government to step up.
Chapter 5 Summary
Chapter 6.
Measures to strengthen retirement income security
01.
Increase in the nominal income replacement rate of the National Pension
02.
Increase in the National Pension's real income replacement rate
03.
Basic pension increased to 400,000 won
04.
Strengthening retirement pensions
05.
Measures to provide flexibility to the national pension benefit structure
Chapter 6 Summary
Chapter 7.
Additional Measures for the Success of National Pension Reform
01.
State payment guarantee stipulated
02.
Eliminating blind spots in the national pension system
Chapter 8.
Review of structural reform measures
01. KDI's 'New Pension' Proposal
02.
Integration or linkage with civil servant pension
03.
Basic Pension Reform
Part 3
01.
The Golden Time for National Pension Reform
02.
Vision for National Pension Reform
Why haven't you succeeded so far?
A Long-Term Vision for National Pension Reform
03.
National Pension Reform for 2030
04.
Conditions that this pension reform must meet
05.
Proposed reform measures and their limitations
500-person National Public Opinion Committee (draft)
Democratic Party (plan)
Government (plan)
06.
My opinion
National Pension Reform Plan
07.
The Politics of National Pension Reform
Pension reform is politics!
Failure Factors and Success Strategies
supplement.
Pension reform cases by country
01.
Canada's pension reform
02.
Japan's pension reform
03.
French pension reform
04.
German pension reform
05.
Sweden's pension reform
06.
Chile's pension reform
07.
Greece's pension reform
Epilogue
Into the book
“It is now essential to create your own pension portfolio from a young age, one that will allow you to live worry-free and not have to worry about inflation until you die.”
National Pension Service will be there for you until the very end.
There is a reason why people say, “National pension is better than most children.”
“The National Pension is a ‘lifelong salary,’ paid regularly on the 25th of every month, and the government guarantees it until death.”
“In the case of the National Pension and the Basic Pension, the government manages them anyway, so I don’t think anything will change even if I pay attention to them, but that’s not the case.
There are surprisingly many people who end up losing out because they don't know the details of the national pension system.
“I often see cases where people make rash decisions based on their own judgment and later regret it.”
“Even if the total national pension contributions are the same, people who have been enrolled for a longer period of time receive more pension.
Therefore, in order to receive more national pension, you must ‘increase the subscription period.’
Another way is to receive it late.
“The later you receive your national pension, the more pension you receive.”
“National pension is more important to the 2030 generation.
Because they live longer than the older generation.
If the 2030 generation raises their voices and demands strongly, they will be able to receive their national pension benefits. Conversely, if they remain indifferent or defer to the political world, they will likely not receive them.
National Pension Service will be there for you until the very end.
There is a reason why people say, “National pension is better than most children.”
“The National Pension is a ‘lifelong salary,’ paid regularly on the 25th of every month, and the government guarantees it until death.”
“In the case of the National Pension and the Basic Pension, the government manages them anyway, so I don’t think anything will change even if I pay attention to them, but that’s not the case.
There are surprisingly many people who end up losing out because they don't know the details of the national pension system.
“I often see cases where people make rash decisions based on their own judgment and later regret it.”
“Even if the total national pension contributions are the same, people who have been enrolled for a longer period of time receive more pension.
Therefore, in order to receive more national pension, you must ‘increase the subscription period.’
Another way is to receive it late.
“The later you receive your national pension, the more pension you receive.”
“National pension is more important to the 2030 generation.
Because they live longer than the older generation.
If the 2030 generation raises their voices and demands strongly, they will be able to receive their national pension benefits. Conversely, if they remain indifferent or defer to the political world, they will likely not receive them.
--- From "The Companion of the 100-Year-Old Era: National Pension for Lifetime Salary"
Publisher's Review
This book explains to the 2030 generation, who are uncertain about the national pension, that pension reform should not only benefit the current generation, but also future generations, and explores specific alternatives for the 2030 generation.
While previous discussions have largely focused on the perception that raising insurance rates would be detrimental to young people, the author argues that early reform should be designed to allow the current generation to shoulder a greater burden and allow the 2030 generation to receive pensions under more favorable conditions.
Additionally, it emphasizes that the government must actively address the issue of raising the 'income replacement rate,' a key element of pensions, and argues that this is entirely possible within the scope of sound fiscal policy.
There are common concerns that raising the income replacement rate will worsen fiscal soundness, but the author argues that combining overseas pension reform cases with improvements in the way the National Pension Service manages its funds makes it possible to raise the income replacement rate to a manageable level.
In other words, pension reform is not simply about increasing the burden, but if the three factors of insurance premium rates, national finances, and fund management are aligned, a sustainable reform that allows for 'paying more and receiving more' is possible.
Our country's national pension system is currently facing serious challenges.
Due to fund depletion, low birth rates, and population decline, anxiety is spreading that there is no future for pensions, and the 2030 generation perceives the national pension system as being disadvantageous to them.
But the author overturns such common sense through this book.
Pension reform is not disadvantageous to the 2030 generation, but rather, if implemented early, it can be designed to allow this generation to enjoy more stable pension benefits.
It also corrects misconceptions about the pension system and explains why pension reform should be a substantive discussion rather than a political debate.
Up until now, whenever pension reform in Korea has been discussed in political circles, the direction has become unclear, and in many cases, it has been promoted in a way that only increases the burden on the people.
This book overcomes the limitations of such discussions and focuses on explaining how pension reform can bring real benefits to the public.
Above all, this book points out that pension reform is a task of our time that can no longer be postponed, and emphasizes that the core of pension reform is not simple reform, but creating a “sustainable pension.”
Rather than a short-term political debate, pension reform is needed that takes into account long-term stability and future generations. To achieve this, all citizens must have a proper understanding of the pension system and actively participate in reform discussions.
This book, which specifically explains how pension reform can benefit the public rather than burden them and presents alternatives for the future, is expected to play a significant role in advancing the discussion on national pension reform to the next level.
While previous discussions have largely focused on the perception that raising insurance rates would be detrimental to young people, the author argues that early reform should be designed to allow the current generation to shoulder a greater burden and allow the 2030 generation to receive pensions under more favorable conditions.
Additionally, it emphasizes that the government must actively address the issue of raising the 'income replacement rate,' a key element of pensions, and argues that this is entirely possible within the scope of sound fiscal policy.
There are common concerns that raising the income replacement rate will worsen fiscal soundness, but the author argues that combining overseas pension reform cases with improvements in the way the National Pension Service manages its funds makes it possible to raise the income replacement rate to a manageable level.
In other words, pension reform is not simply about increasing the burden, but if the three factors of insurance premium rates, national finances, and fund management are aligned, a sustainable reform that allows for 'paying more and receiving more' is possible.
Our country's national pension system is currently facing serious challenges.
Due to fund depletion, low birth rates, and population decline, anxiety is spreading that there is no future for pensions, and the 2030 generation perceives the national pension system as being disadvantageous to them.
But the author overturns such common sense through this book.
Pension reform is not disadvantageous to the 2030 generation, but rather, if implemented early, it can be designed to allow this generation to enjoy more stable pension benefits.
It also corrects misconceptions about the pension system and explains why pension reform should be a substantive discussion rather than a political debate.
Up until now, whenever pension reform in Korea has been discussed in political circles, the direction has become unclear, and in many cases, it has been promoted in a way that only increases the burden on the people.
This book overcomes the limitations of such discussions and focuses on explaining how pension reform can bring real benefits to the public.
Above all, this book points out that pension reform is a task of our time that can no longer be postponed, and emphasizes that the core of pension reform is not simple reform, but creating a “sustainable pension.”
Rather than a short-term political debate, pension reform is needed that takes into account long-term stability and future generations. To achieve this, all citizens must have a proper understanding of the pension system and actively participate in reform discussions.
This book, which specifically explains how pension reform can benefit the public rather than burden them and presents alternatives for the future, is expected to play a significant role in advancing the discussion on national pension reform to the next level.
GOODS SPECIFICS
- Date of issue: March 13, 2025
- Page count, weight, size: 328 pages | 152*225*30mm
- ISBN13: 9791169573191
- ISBN10: 1169573193
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