Lee Jae-myung, the president, at a New Year's press conference held at the Blue House state guest house on the 21st, was asked about turning retirement pensions into a fund and said, "Usually, funds have an annual return of 7% to 8%, but retirement pensions are in the 1% range," adding, "They don't even reach the level of bank interest, so we cannot keep leaving them as they are."
The president said, "If returns are lower than inflation like this, you end up losing," and added, "Retirement pensions, the National Pension Service, the basic pension, the Government Employees Pension, the Private School Teachers' Pension, and the Military Pension are all too complicated, so I think we may need to integrate them and restructure the system."
The president said, "Retirement pensions are an important asset for preparing for old age, so we need to discuss whether it is right to let them be wasted like this," and added, "Fund-ization is one alternative, but if the majority does not want it, we will not do it."