Three Major Public Pension Systems Move to Lower Barriers ... Sharing Fund Management Experience Draws Attention [fn Market Watch]

[Financial News] The National Pension Service, the Government Employees Pension Service and Teachers’ Pension, South Korea’s three major public pension institutions, are working to establish a framework for cooperation and share their experience in fund management and system operations. They plan to jointly leverage the pension-management expertise each institution has accumulated and broaden cooperation to include training on public pension systems overseas.
According to the investment banking (IB) industry on the 3rd, Teachers’ Pension signed a memorandum of understanding with the National Pension Service and the Government Employees Pension Service that day at the NPS Happy Pension Hall in Jeonju. The agreement is titled “Memorandum of Understanding on Public Pension System Training and Knowledge Sharing.”
The agreement’s central aim is to make joint use of the expertise each institution has accumulated. The three institutions plan to share information on areas including fund management, member management and examples of pension system operations, and to expand global training programs and exchanges of specialized personnel.
They will also pursue cooperation linked to global official development assistance (ODA) projects. This will involve using the operational experience of South Korea’s public pension institutions in overseas training and education programs.
This cooperation follows the formation last December of a working-level committee on training in public pension systems. The institutions aim to deepen cooperation by moving beyond sharing their respective training schedules and resources to jointly developing programs and conducting training.
The IB industry viewed the agreement as an opportunity to share the institutions’ expertise and broaden the foundation for international cooperation. However, the assessment is that actual results will depend on how concretely joint training and information exchange take shape.
Kim Chang-soo, chairman of Teachers’ Pension, emphasized, “I hope this will help strengthen confidence in South Korea’s public pension system, drawing on each institution’s capabilities and infrastructure, and develop it into a world-class model of excellence.”
[email protected] Kim Gyeong-a Reporter