The National Pension Service, the world's third-largest public pension fund, logged a record 8.22% drop in assets in 2022 but has so far recovered more than half of it, its chairman told Reuters. With the country's population ageing rapidly, the fund is expected to be depleted by 2055, and it is one of the administration's goals to reform the national pension system to delay it. (Reporting by Jihoon Lee; Editing by Muralikumar Anantharaman)
SEOUL, March 6 (Reuters) - South Korea's President Yoon
Suk Yeol on Monday ordered "extraordinary measures" to improve
investment earnings of the country's pension fund, his office
said.
"Along with systematic reforms, it is one of highly
important tasks to improve the fund's investment returns to ease
people's burden," Yoon said during a meeting with senior
officials.
Yoon's office did not provide more details on the measures.
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