A Study on Issues and Plans in the Integration of Public Pensions

This study presents a discussion about the integrating reform of public pensions based on issues in the integration of various public pensions. After analyzing it in three aspects including basic rights, old age income, and social security after the unification of North and South Korea, the study aimed to propose plans for the desirable integration of public pensions. The analysis results of issues in the integration of public pensions identified three factors: first, there is national and social accountability to ensure social integration and welfare society in the Social Security Act as a ground for basic rights, which raises a need for a fair social security system to guarantee the people their basic rights ultimately; second, the elderly in South Korea suffered a shortage of preparations for old age as well as poverty issues; and third, there is a need to integrate public pensions into a single public pension system in preparation of pension conflicts after the unification of North and South Korea since a basis in ensuring income for the elderly in Unified Korea will be a public pension system rather than public assistance. Based on the analysis results, the study proposed the following plans for the integration of public pensions: first, there is a need to design a multi-layer system to ensure income for the elderly as a social security system and prepare public pensions system based on the Minimum Pension Act in the bottom layer; secondly, there is a need to provide a set of criteria for the Minimum Pension Act based on the current Minimum Wages Act in South Korea and make it sure that the government will ensure pension payment in the bottom layer so that all people can have their old age secured in the public pension system; and finally, there is a need to change the perceptions of social costs for public pensions as part of social solidarity and investment and have more social discourses about policy directions to ensure their objectivity.