Government Launches Inter-Ministerial Task Force to Support Pension Special Committee

The government has activated an inter-ministerial collaboration system to support the discussions of the National Assembly's Pension Reform Special Committee.

According to the Ministry of Economy and Finance, the government held the first meeting of the "Inter-Ministerial Support Task Force for the Pension Reform Special Committee" on the 15th. The meeting was attended by Kim Beom-seok, First Vice Minister of Economy and Finance, Lee Gi-il, First Vice Minister of Health and Welfare, as well as representatives from the Office for Government Policy Coordination, Ministry of Education, Ministry of National Defense, Ministry of Employment and Labor, Ministry of Personnel Management, and Financial Services Commission.

At this meeting, the current status of the operation of national, basic, retirement, and personal pensions, as well as public servant, military, and private school pensions, was shared, and administrative support measures for the National Assembly's Pension Special Committee were intensively discussed. The government plans to organically support the structural reform discussions of the Pension Special Committee going forward.

Kim Beom-seok, First Vice Minister of Economy and Finance, stated at the meeting, "The core of the reform is to establish a sustainable old-age income security system through the introduction of an automatic adjustment mechanism and organic linkage between pensions," adding, "We will mobilize all government capabilities to ensure the Special Committee's discussions yield results."

Lee Gi-il, First Vice Minister of Health and Welfare, said, "This third pension reform is half a reform and the starting point of structural reform," and added, "The government will fully support the National Assembly's discussions to ensure the stable old age of the people."