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http://dx.doi.org/10.5351/KJAS.2015.28.4.781

Why were National Welfare Pension Act of 1973 and the National Pension Act of 1986 Legislated?: From the Viewpoint of Response to the Demographic Bonus  

Park, Yitaek (Institute of Economic Research, Korea University)
Lee, Hun-Chang (Department of Economics, Korea University)
Publication Information
The Korean Journal of Applied Statistics / v.28, no.4, 2015 , pp. 781-805 More about this Journal
Abstract
The National Welfare Pension Act of 1973 and the National Pension Act of 1986 were legislated for an anticipative response to future population ageing. But the enforcement of these acts gained momentum as they became effective tools to realize the present potential demographic bonus. This article investigates the history related to the enactment of these two acts, focusing on these acts' role in raising funds managed by the government (National Investment Fund and National Housing Fund). This article shows the historical origin of full-dress debates on the sustainability of the National Pension Fund.
Keywords
National Welfare Pension Act; National Pension Act; population ageing; demographic bonus; pension sustainability;
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