IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Pension Systems for Public Sector Employees in the Republic of Korea

Listed author(s):
  • Kim, Jae-Kyeong
  • Moon, Hyung-Pyo
Registered author(s):

    On December 31, 2009, the Government Employees Pension System (GEPS) in the Republic of Korea was faced with a huge pension reform. The objective of the reform was to lessen the financial burden in the future. This paper tries to provide a comprehensive understanding on the 2009 reform, rationalizing on the resulting effects, its limitation and tasks ahead. Initially, upon the preliminary comments on the structure of public pension system in Korea, the paper presents the history and design features of the pension schemes for public sector employees. Second, it provides detailed aspects of the reform such as key issues, reform process and resulting pension structure. Then, as a primary concern, it examines the effects of the 2009 reform from two different perspectives; financial evaluation in macro perspective and individual equity evaluation in micro perspective. Finally, we will try to evaluate the 2009 reform of the GEPS as a whole, and then to address its limitation and tasks ahead. We show that, while the 2009 reform could consolidate the financial status for the scheme by and large, the GEPS will inevitably face various challenges ahead. The implication is that future path of the reform should be chosen in a fashion that both macro-financial aspect and micro-equity aspect are equally well considered.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series PIE/CIS Discussion Paper with number 499.

    in new window

    Length: 28 p.
    Date of creation: Jan 2011
    Handle: RePEc:hit:piecis:499
    Note: Pension Workshop, January 21-22, 2011, Tokyo
    Contact details of provider: Postal:
    2-1 Naka, Kunitachi City, Tokyo 186-8603

    Phone: +81-42-580-8336
    Fax: +81-42-580-8333
    Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:hit:piecis:499. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Digital Resources Section, Hitotsubashi University Library)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.