국민연금재정의 관리ㆍ운용체계에 대한 법적고찰

National Pension System of South Korea has maintained a financing method with a large scale of the accumulated fund since introduction. The accumulated national pension fund has already grown as one of the top three funds in the world, and it is predicted that it will keep on growing and then rapidly decline from 2044. For sustainable administration and management of this national pension fund, various reform plans have been proposed, and yet substantial improvement of the system has not been made. The fund administration and operation system corresponding to the changed economic and social circumstances should be improved reflecting the purpose and nature of its management. In other words, its nature as liability reserve as specified in the law and the stability of the fund should be considered, expertise should be strengthened to help enhance its profitability. For this purpose, the roles and functions of the institutions related to the administration and operation of the fund are important, and to reflect the intention of the subscribers, the actual owners of the pension, representability of members of the institution is problematic. Also, representativeness of the institution is linked to the expertise of the fund management and actually comes down to the establishment of the Fund Management Corporation. However, it is difficult for this issue to be implemented without a preceding national consensus. Therefore, this study attempts to suggest improvements of institutional problems by closely reviewing the current fund administration/operation system and reform plans. This study can ultimately contribute to the improvement of the domestic trust in the national pension system and laying the legal foundation for the realization of a Korean welfare state.