퇴직연금 정착을 위한 제도 개선방안 연구

The retirement pension system was implemented in 2005 with great expectations, but it has produced trivial results over the past two years due to the lack of recognition of sponsors and employees, stringent investment regulations of pension fund, and unsatisfactory tax benefits for pension plan. We suggest the solutions for development of the private pension schemes in this study as follows; First, there is a need to review a gradual investment deregulation of pension funds based on the other supplementary measures. This implies that quantitative regulations and prudent-person principles should be carefully reassessed, having regard to both the fiduciary duty and the protection of vesting right. Second, the abolition of the interim payment, execution of the strict qualification to receive a lump-sum payment, and the provision of substantial tax incentives are highly demanded as the short-term plans, and also mandatory retirement pension schemes and the abrogation of the current retirement benefits systems should be reviewed thoroughly as the long-term countermeasure. Third, regulators should consider the set of minimum funding requirement as 100% to the solvency of pension funds. Fourth, to provide diverse retirement pension products should be introduced to satisfy demands of various sponsors and employees. In conclusion, it is imperative that we should structure the effective multi-pillar system through contracting-out of the public pension to develop the retirement pension scheme.