國民年金制度改善案에 대한 厚生分析

An Evaluation of National Pension Reform Plans

In this paper, an evaluation of the recent reform plans for the National Pension System (NPS) is performed by using a general equilibrium overlapping generations model. The reform plan suggested by the Committee for the National Pension System Reform (the Committee) is found to be more effective for improvement of the welfare of the future generations than the Government’s Plan, because relatively low level of pension benefit payment and contribution rates suggested by the Committee lessens the distortion of the labor supply and capital accumulation. The Government plan including a drastic increase in the contribution rate and maintenance of high level of pension payment is found to cause a substantial welfare cost for most generations alive between 1985 and 2135. And, a more proper selection of source of pension budget such as Central Government tax revenue is suggested in order to enhance welfare of the future generations.