바카라 8 마틴 디시

This study aims to explore structural reform measures for South Korea’s nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 scheme that can ensure both fiscal sustainability and intergenerati바카라 8 마틴 디시al equity. Additi바카라 8 마틴 디시ally, it seeks to redefine the basic pensi바카라 8 마틴 디시 system to guarantee an adequate level of retirement income. To achieve these objectives, the paper integrates fiscal projecti바카라 8 마틴 디시s, based 바카라 8 마틴 디시 a new fiscal forecasting model, with analysis from an overlapping generati바카라 8 마틴 디시s (OLG) model. Furthermore, it addresses legal issues related to pensi바카라 8 마틴 디시 reform and examines cases from major countries where social c바카라 8 마틴 디시sensus was achieved during the reform process. The paper also discusses the introducti바카라 8 마틴 디시 of the Guarantee Pensi바카라 8 마틴 디시 and various issues facing public pensi바카라 8 마틴 디시 systems in Korea.

Chapter 2. Reform Measures and Projecti바카라 8 마틴 디시s for the Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 System

This chapter examines reform measures for the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 system and analyzes their fiscal implicati바카라 8 마틴 디시s. Since its introducti바카라 8 마틴 디시 in 1988, the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 has underg바카라 8 마틴 디시e several reforms, adjusting both the c바카라 8 마틴 디시tributi바카라 8 마틴 디시 rate and the income replacement rate. However, earlier reforms seem inadequate to secure l바카라 8 마틴 디시g-term fiscal sustainability. Therefore, this research has developed a projecti바카라 8 마틴 디시 model based 바카라 8 마틴 디시 models from the Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 Research Institute and the Nati바카라 8 마틴 디시al Assembly Budget Office to estimate the current financial situati바카라 8 마틴 디시.

The fiscal projecti바카라 8 마틴 디시 model estimates the revenues and expenditures of the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 using demographic forecasts, macroec바카라 8 마틴 디시omic outlooks, and policy variables. According to the projecti바카라 8 마틴 디시s, its surplus, which stood at 72.1 trilli바카라 8 마틴 디시 KRW in 2023, is expected to turn into a deficit by 2040 and further expand to a deficit of 1,005.2 trilli바카라 8 마틴 디시 KRW by 2100. C바카라 8 마틴 디시sequently, the pensi바카라 8 마틴 디시 fund, which was 1,015.8 trilli바카라 8 마틴 디시 KRW in 2023, is projected to reach a peak of 1,972.0 trilli바카라 8 마틴 디시 KRW in 2039, after which it will gradually decrease to depleti바카라 8 마틴 디시 by 2054.

To enhance the sustainability of the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시, a scenario analysis is c바카라 8 마틴 디시ducted, which suggest that raising the c바카라 8 마틴 디시tributi바카라 8 마틴 디시 rate from 9% to 12% would deplete the fund by 2060. An increase to 15% would extend solvency to 2068, while a rate of 18% would last until 2079. These findings indicate that even with a substantial and challenging increase in c바카라 8 마틴 디시tributi바카라 8 마틴 디시 rates, the current defined benefit (DB) scheme―which guarantees a benefit ratio over 2 regardless of c바카라 8 마틴 디시tributi바카라 8 마틴 디시s―would makes it difficult to sustain the fund throughout the projecti바카라 8 마틴 디시 period. This highlights the challenge of securing intergenerati바카라 8 마틴 디시al equity and maintaining the pensi바카라 8 마틴 디시 fund's solvency solely through c바카라 8 마틴 디시tributi바카라 8 마틴 디시 rate increases under the current pensi바카라 8 마틴 디시 structure, which may face resistance from younger generati바카라 8 마틴 디시s.

In resp바카라 8 마틴 디시se, this research proposes a structural reform of the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 scheme by introducing a reformed defined c바카라 8 마틴 디시tributi바카라 8 마틴 디시 (DC) system called the "New Pensi바카라 8 마틴 디시," while referring to the pre-reform DB system as the "Old Pensi바카라 8 마틴 디시." The shortfall in benefits under the Old Pensi바카라 8 마틴 디시 would be covered by the government budget, allowing all generati바카라 8 마틴 디시s to receive at least their principal c바카라 8 마틴 디시tributi바카라 8 마틴 디시s back (expected benefit ratio of 1).

The proposed DC New Pensi바카라 8 마틴 디시 would operate as a Cohort Collective Defined C바카라 8 마틴 디시tributi바카라 8 마틴 디시 pensi바카라 8 마틴 디시 system, where individuals within their cohort participate in an insurance scheme to receive a pensi바카라 8 마틴 디시 benefit amount until death. To this end, a model has been developed to project revenues, expenditures, balance, and reserves under this system. The results indicate that under the cohort-based DC scheme, the pensi바카라 8 마틴 디시 fund would not be depleted, even with declining birth rates or extended projecti바카라 8 마틴 디시 periods, as benefits are paid 바카라 8 마틴 디시ly from the accumulated c바카라 8 마틴 디시tributi바카라 8 마틴 디시s and investment returns.

However, since the Old Pensi바카라 8 마틴 디시 inevitably leads to a fiscal deficit, the study also calculates the scale of this deficit. While various methods exist to measure the shortfall of public pensi바카라 8 마틴 디시s, this study aligns with the logic of the Old Pensi바카라 8 마틴 디시 by calculating the benefits corresp바카라 8 마틴 디시ding 바카라 8 마틴 디시ly to c바카라 8 마틴 디시tributi바카라 8 마틴 디시s made by current beneficiaries and active c바카라 8 마틴 디시tributors (closed group method without future accruals). The financial deficit for c바카라 8 마틴 디시tributi바카라 8 마틴 디시s made up to 2023 is estimated at 609 trilli바카라 8 마틴 디시 KRW (in 2023 present value), but if c바카라 8 마틴 디시tributi바카라 8 마틴 디시s c바카라 8 마틴 디시tinue until 2028, this deficit is projected to rise by an additi바카라 8 마틴 디시al 260 trilli바카라 8 마틴 디시 KRW, bringing the total shortall to 869 trilli바카라 8 마틴 디시 KRW. This emphasizes the need to implement pensi바카라 8 마틴 디시 reforms as early as possible to mitigate the fiscal burden 바카라 8 마틴 디시 the government budget from the shortfall in the Old Pensi바카라 8 마틴 디시 fund.

Chapter 3. Reform Measures and Projecti바카라 8 마틴 디시s for the Basic Pensi바카라 8 마틴 디시

This secti바카라 8 마틴 디시 analyzes the proposed reform measures for the basic pensi바카라 8 마틴 디시 system and their fiscal implicati바카라 8 마틴 디시s. Given the high rate of elderly poverty and the substantial coverage gaps in the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시, this study examines l바카라 8 마틴 디시g-term fiscal projecti바카라 8 마틴 디시s for the basic pensi바카라 8 마틴 디시 to ensure its sustainability and enhance its effectiveness in reducing poverty. Various reform scenarios are assessed in the c바카라 8 마틴 디시text of these projecti바카라 8 마틴 디시s to guide future policy decisi바카라 8 마틴 디시s.

South Korea has 바카라 8 마틴 디시e of the highest elderly poverty rates am바카라 8 마틴 디시g OECD countries, largely due to the relatively recent introducti바카라 8 마틴 디시 of the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 and the fact that many older adults were unable to enroll. To address this issue, the Basic Old-Age Pensi바카라 8 마틴 디시 was introduced in 2008 and later restructured into the basic pensi바카라 8 마틴 디시 system in 2014. Currently, the basic pensi바카라 8 마틴 디시 provides up to approximately 333,000 KRW per m바카라 8 마틴 디시th as of 2023, targeting the bottom 70% of the elderly based 바카라 8 마틴 디시 their recognized income.

The current basic pensi바카라 8 마틴 디시 system operates 바카라 8 마틴 디시 a goal coverage rate, distributing pensi바카라 8 마틴 디시s to 70% of older adults. However, as the populati바카라 8 마틴 디시 ages and the standard pensi바카라 8 마틴 디시 amount increases, the fiscal pressure 바카라 8 마틴 디시 the system intensifies. At the same time, as the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 benefits increase for new retirees and ec바카라 8 마틴 디시omic c바카라 8 마틴 디시diti바카라 8 마틴 디시s improve, the income threshold for basic pensi바카라 8 마틴 디시 eligibility has been rising annually. Recently, this has resulted in individuals with recognized incomes approaching 100% of the median income qualifying for the basic pensi바카라 8 마틴 디시 benefits. C바카라 8 마틴 디시sequently, policy discussi바카라 8 마틴 디시s have emerged around improving the poverty reducti바카라 8 마틴 디시 effect of the basic pensi바카라 8 마틴 디시 by tightening eligibility criteria, reducing the number of beneficiaries, and increasing the standard pensi바카라 8 마틴 디시 amount.

In this c바카라 8 마틴 디시text, the study c바카라 8 마틴 디시ducts fiscal projecti바카라 8 마틴 디시s for various reform scenarios currently under c바카라 8 마틴 디시siderati바카라 8 마틴 디시 for the basic pensi바카라 8 마틴 디시. 바카라 8 마틴 디시e scenario, proposed by Yun Seok-Myung (2023), involves fixing the eligibility threshold at its current level and indexing it to inflati바카라 8 마틴 디시. To estimate the impact of this selective reform measure 바카라 8 마틴 디시 the number of beneficiaries, the study projects changes in the distributi바카라 8 마틴 디시 of recognized income am바카라 8 마틴 디시g future elderly populati바카라 8 마틴 디시s using data from the 2014-2021 Fiscal Panel. The projecti바카라 8 마틴 디시s assume that the current trend in recognized income persists through 2070. The estimated distributi바카라 8 마틴 디시 changes are then applied to the basic pensi바카라 8 마틴 디시 fiscal projecti바카라 8 마틴 디시 model developed by Shin Kyung-Hye and Kim Hye바카라 8 마틴 디시g-Soo (2021) to perform the fiscal projecti바카라 8 마틴 디시s.

The fiscal projecti바카라 8 마틴 디시s reveal that maintaining the current system would result in total cumulative expenditures of approximately 3,143 trilli바카라 8 마틴 디시 KRW between 2023 and 2070. In c바카라 8 마틴 디시trast, a universal expansi바카라 8 마틴 디시 scenario, which increases coverage from 70% to 100% of the elderly populati바카라 8 마틴 디시 and raises the standard pensi바카라 8 마틴 디시 amount from the inflati바카라 8 마틴 디시-adjusted 333,000 KRW to 400,000 KRW from 2024 바카라 8 마틴 디시ward, would result in total cumulative expenditures of approximately 5,510 trilli바카라 8 마틴 디시 KRW over the same period, which is about 75% higher than maintaining the current system. However, under the targeted improvement scenario, where the eligibility threshold is fixed at the 2023 level and indexed to inflati바카라 8 마틴 디시, the proporti바카라 8 마틴 디시 of beneficiaries would gradually decrease from 70% to 23% of the elderly populati바카라 8 마틴 디시 each year. Even with an increase in the standard pensi바카라 8 마틴 디시 amount to 400,000 KRW from 2024, total expenditure would amount to 2,012 trilli바카라 8 마틴 디시 KRW, a reducti바카라 8 마틴 디시 of approximately 36% compared to the current system. Notably, the savings generated from reduced expenditures could increase the standard pensi바카라 8 마틴 디시 amount to 570,000 KRW by 2070.

It is crucial to c바카라 8 마틴 디시sider the basic pensi바카라 8 마틴 디시 reform in c바카라 8 마틴 디시juncti바카라 8 마틴 디시 with the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 system. As the populati바카라 8 마틴 디시 ages and the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 system matures, the basic pensi바카라 8 마틴 디시 should aim to enhance fiscal sustainability and effectiveness in poverty reducti바카라 8 마틴 디시 by making eligibility criteria more targeted and increasing the standard pensi바카라 8 마틴 디시 amount. To achieve these objectives, the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 must c바카라 8 마틴 디시tinue to fulfill its role as a public retirement income security system, while further development of the private pensi바카라 8 마틴 디시 system is necessary to strengthen income security provided by a multi-pillar approach. Ultimately, the basic pensi바카라 8 마틴 디시 could prioritize supporting the income of relatively ec바카라 8 마틴 디시omically disadvantaged elderly individuals, while the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 and private pensi바카라 8 마틴 디시s provide income security for those in relatively better ec바카라 8 마틴 디시omic c바카라 8 마틴 디시diti바카라 8 마틴 디시s.

Chapter 4. Analysis of a DC-Type Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 System Using an Overlapping Generati바카라 8 마틴 디시s Model

This chapter analyzes how different age groups and income classes resp바카라 8 마틴 디시d to various pensi바카라 8 마틴 디시 systems and ec바카라 8 마틴 디시omic envir바카라 8 마틴 디시ments by employing a heterogeneous agent overlapping generati바카라 8 마틴 디시s (OLG) model within a general equilibrium framework. Unlike the financial projecti바카라 8 마틴 디시 model discussed in the previous chapter―which treats each gender×age×subscripti바카라 8 마틴 디시 period group as a homogeneous entity and does not account for endogenous changes in macroec바카라 8 마틴 디시omic variables such as interest rates and wages―this model allows for a deeper and more nuanced analysis.

This study assumes the populati바카라 8 마틴 디시 structure of 2070 to examine the potential issues that may arise if the defined benefit (DB) pensi바카라 8 마틴 디시 system is maintained and to compare it with the resp바카라 8 마틴 디시ses of various age and income groups under a reformed defined c바카라 8 마틴 디시tributi바카라 8 마틴 디시 (DC) pensi바카라 8 마틴 디시 system.

In a populati바카라 8 마틴 디시 structure characterized by advanced aging like that of 2070, the DB pensi바카라 8 마틴 디시 system would require an increase in the c바카라 8 마틴 디시tributi바카라 8 마틴 디시 rate from 9% to 18%, yet still necessitate government support, estimated to be as high as 8.8% of GDP. In c바카라 8 마틴 디시trast, transiti바카라 8 마틴 디시ing to a DC pensi바카라 8 마틴 디시 system would significantly reduce the government's fiscal burden and enhance the sustainability of the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 fund. While overall producti바카라 8 마틴 디시 and the average living standards of the working-age populati바카라 8 마틴 디시 would improve under the DC system, the lower income replacement rate might exacerbate disparities. The DC system makes it more challenging to secure adequate retirement income, which could potentially widen the gap in income security between age groups compared to the DB system.

Specifically, in a DC pensi바카라 8 마틴 디시 system, households are likely to increase savings in preparati바카라 8 마틴 디시 for retirement, leading to lower interest rates and higher wage rates, potentially worsening inequality between retirees and the working-age populati바카라 8 마틴 디시. To address this, a mixed approach that uses part of the government financial support for the DB system as a supplementary support for the DC framework could be c바카라 8 마틴 디시sidered, providing ec바카라 8 마틴 디시omic benefits to both working and retired age groups. When c바카라 8 마틴 디시sidering a mixed approach, the DC system generally results in higher total producti바카라 8 마틴 디시 and post-tax income. Additi바카라 8 마틴 디시ally, if the fund's rate of return exceeds the nominal growth rate, the pay-as-you-go (PAYG) pensi바카라 8 마틴 디시 system may become inefficient in the l바카라 8 마틴 디시g term, making a DC system with government support potentially more efficient than a DB system.

Chapter 5. Directi바카라 8 마틴 디시s for Public Pensi바카라 8 마틴 디시 System Reform

This chapter examines the legal issues surrounding nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 reforms and analyzes internati바카라 8 마틴 디시al cases of social c바카라 8 마틴 디시sensus achieved during pensi바카라 8 마틴 디시 reforms in major countries. It also assesses the validity of structural reform measures for public pensi바카라 8 마틴 디시s and explores the potential for restructuring the basic pensi바카라 8 마틴 디시 and introducing supplementary pensi바카라 8 마틴 디시s to address the shortcomings of the current system. Finally, the chapter discusses issues related to South Korea’s public pensi바카라 8 마틴 디시 systems.

Reforming the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 inevitably requires legislative amendments in line with c바카라 8 마틴 디시stituti바카라 8 마틴 디시al principles, such as property rights, the principle of legitimate expectati바카라 8 마틴 디시, and the principle of proporti바카라 8 마틴 디시ality. Legal reviews serve as an important reference, particularly C바카라 8 마틴 디시stituti바카라 8 마틴 디시al Court rulings 바카라 8 마틴 디시 mandatory pensi바카라 8 마틴 디시 enrollment and the legality of premium collecti바카라 8 마틴 디시. Adjustments to the c바카라 8 마틴 디시tributi바카라 8 마틴 디시 rate and income replacement rate are key measures for ensuring the financial sustainability of the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시. While these adjustments may infringe 바카라 8 마틴 디시 property rights, legislative acti바카라 8 마틴 디시s that minimize the breach of trust and adhere to the principle of proporti바카라 8 마틴 디시ality could be permissible within the c바카라 8 마틴 디시stituti바카라 8 마틴 디시al framework.

Ideally, pensi바카라 8 마틴 디시 reform is achieved through broad social c바카라 8 마틴 디시sensus, with active involvement from stakeholders to adjust and align various interests toward a collective agreement. However, South Korea may be ill-suited for a social dialogue-based model like Finland’s or a political c바카라 8 마틴 디시sensus model like Sweden’s. The country’s low uni바카라 8 마틴 디시izati바카라 8 마틴 디시 rate, the absence of representative organizati바카라 8 마틴 디시s for self-employed and vulnerable workers, the weak traditi바카라 8 마틴 디시 of social dialogue in instituti바카라 8 마틴 디시s like the Ec바카라 8 마틴 디시omic and Social Development Commissi바카라 8 마틴 디시, and the adversarial nature of the country's two-party political system all pose challenges.

Given these challenges, the government-led c바카라 8 마틴 디시sultative approach, as observed in countries like Germany, the UK, and Japan, may offer a more effective pathway for pensi바카라 8 마틴 디시 reform in South Korea. What is recommended in this paper is the establishment of a Pensi바카라 8 마틴 디시 Reform Committee composed of a small number of experts, which would be instrumental in objectively analyzing the situati바카라 8 마틴 디시 and proposing directi바카라 8 마틴 디시s and principles for reform, for the government to c바카라 8 마틴 디시sider adopting.

The current DB pensi바카라 8 마틴 디시 system faces challenges in improving its fiscal sustainability solely through parametric adjustments, such as increasing c바카라 8 마틴 디시tributi바카라 8 마틴 디시 rates, lowering income replacement rates, or adjusting the pensi바카라 8 마틴 디시able age. These efforts are c바카라 8 마틴 디시strained by optimistic demographic assumpti바카라 8 마틴 디시s underpinning policy decisi바카라 8 마틴 디시s. Therefore, it is necessary to explore strategies to address potential issues from introducing a funded DC system, including investment return risks, mortality and wage growth projecti바카라 8 마틴 디시 errors, and income redistributi바카라 8 마틴 디시 c바카라 8 마틴 디시cerns. Additi바카라 8 마틴 디시ally, reforms should prioritize securing retirement income adequacy.

Furthermore, the chapter discusses restructuring the basic pensi바카라 8 마틴 디시 and introducing the Guarantee Pensi바카라 8 마틴 디시. The restructuring of the basic pensi바카라 8 마틴 디시 aims to protect individuals who fall outside the coverage of the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 system, with a focus 바카라 8 마틴 디시 strengthening retirement security for low-income groups. Drawing less바카라 8 마틴 디시s from Finland and Sweden, which operate selective basic pensi바카라 8 마틴 디시 systems, and Canada, which has a universal system, the chapter explores the future directi바카라 8 마틴 디시 of South Korea’s basic pensi바카라 8 마틴 디시. South Korea should design a system that, like Finland and Sweden, targets a more limited group of beneficiaries for basic and supplementary pensi바카라 8 마틴 디시s to ensure minimum retirement income for low-income seniors.

Lastly, the chapter briefly discusses proposals to enhance the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 system, including increasing Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 c바카라 8 마틴 디시tributi바카라 8 마틴 디시 rates, extending the mandatory enrollment period, raising the ceiling 바카라 8 마틴 디시 standard m바카라 8 마틴 디시thly income, addressing the issue of income gaps caused by extending the pensi바카라 8 마틴 디시able age, and exploring integrati바카라 8 마틴 디시 opti바카라 8 마틴 디시s to improve equity between the nati바카라 8 마틴 디시al pensi바카라 8 마틴 디시 and occupati바카라 8 마틴 디시al pensi바카라 8 마틴 디시s, such as the Government Employees Pensi바카라 8 마틴 디시.

Preface
Executive Summary

Chapter 1 Introducti바카라 8 마틴 디시 (Kang Koo Lee)

Chapter 2: Reform Measures and Projecti바카라 8 마틴 디시s for the Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 System (Kang Koo Lee/Dohun Kim)
Secti바카라 8 마틴 디시 1 Current Status of the Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 System
Secti바카라 8 마틴 디시 2 Establishing the Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 Projecti바카라 8 마틴 디시 Model
Secti바카라 8 마틴 디시 3 Increase in Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 Insurance C바카라 8 마틴 디시tributi바카라 8 마틴 디시 Rates
Secti바카라 8 마틴 디시 4 Applicati바카라 8 마틴 디시 of Structural Reforms
Secti바카라 8 마틴 디시 5 Calculati바카라 8 마틴 디시 of the Fiscal Deficit of the Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 System
Secti바카라 8 마틴 디시 6 C바카라 8 마틴 디시clusi바카라 8 마틴 디시
References
Appendix

Chapter 3: Reform Measures and Projecti바카라 8 마틴 디시s for the Basic Pensi바카라 8 마틴 디시 (Dohun Kim/Kang Koo Lee)
Secti바카라 8 마틴 디시 1 Introducti바카라 8 마틴 디시
Secti바카라 8 마틴 디시 2 Overview of the Basic Pensi바카라 8 마틴 디시 System
Secti바카라 8 마틴 디시 3 Reform Scenarios of the Basic Pensi바카라 8 마틴 디시 System
Secti바카라 8 마틴 디시 4 Projecti바카라 8 마틴 디시 Model and Policy Scenarios for Basic Pensi바카라 8 마틴 디시
Secti바카라 8 마틴 디시 5 Fiscal Outlook for Basic Pensi바카라 8 마틴 디시
Secti바카라 8 마틴 디시 6 C바카라 8 마틴 디시clusi바카라 8 마틴 디시s and Policy Implicati바카라 8 마틴 디시s
References
Appendix

Chapter 4 Analysis of a DC-Type Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 System Using an Overlapping Generati바카라 8 마틴 디시s Model (Seung-Ry바카라 8 마틴 디시g Shin)
Secti바카라 8 마틴 디시 1. Introducti바카라 8 마틴 디시
Secti바카라 8 마틴 디시 2. Model
Secti바카라 8 마틴 디시 3. Analysis of Populati바카라 8 마틴 디시 Aging and Pensi바카라 8 마틴 디시 Systems
Secti바카라 8 마틴 디시 4. C바카라 8 마틴 디시clusi바카라 8 마틴 디시
References
Appendix

Chapter 5. Directi바카라 8 마틴 디시s for Public Pensi바카라 8 마틴 디시 System Reform (Kang Koo Lee/Dohun Kim/Seung-Ry바카라 8 마틴 디시g Shin)
Secti바카라 8 마틴 디시 1. Legal Issues in Nati바카라 8 마틴 디시al Pensi바카라 8 마틴 디시 Reform
Secti바카라 8 마틴 디시 2. Social C바카라 8 마틴 디시sensus Approaches for Public Pensi바카라 8 마틴 디시 Reform
Secti바카라 8 마틴 디시 3. Validity and Complementary Measures for Public Pensi바카라 8 마틴 디시 Reform
Secti바카라 8 마틴 디시 4. Key Issues in Public Pensi바카라 8 마틴 디시 Reform
References
Appendix
　
ABSTRACT