Linear Programming Model and Forecasting for Financing Operation of civil Service Pension Fund

공무원 연금기금의 중장기전망과 재정운용 성현계확 모형

The outlook for the Civil Service Pension (CSP) program in Korea indicates several problems. First, the balance of the benefit among the pension recipients is not well maintained. Second, the program is running out of funds as benefit increases exceed the growth in revenues. In this article, we analyze these problems by using linear programming model and discuss the alternatives. We propose an addition of the age limit to the benefit eligibility and a reconsideration of the government subsidy's level.