National Pension Service
The National Pension Service of Korea is a public pension fund in South Korea. It is the third largest in the world with $600 billion in assets, and is the largest investor in South Korea.
South Korea's National Pension Service, which oversees $580 billion in assets, is looking to buy a portfolio of blue-chip stocks from emerging markets.
On January 30, 2017, NPS opened up an office in New York City's One Vanderbilt.Timeline
- December, 1986 – Promulgated the Nation Pension Act
- September, 1987 – Established the National Pension Corporation
- January, 1988 – Implemented the national pension system
- January, 1992 – Compulsory coverage included workplaces with five or more full-time employees
- January, 1993 – Commenced Special Old-age Pension benefit payment
- April, 1995 – Established the National Pension Research Institute
- July, 1995 – Compulsory coverage was extended to farmers and fishermen in rural areas
- August, 1995 – Compulsory coverage was extended to workplace-based foreigners
- April, 1999 – Compulsory coverage expanded to majority population in Korea
- November, 1999 – Launched the National Pension Fund Management Center
- July, 2003~2006 – Gradually expanded compulsory coverage to corporations and workplaces with less than five full-time employees
- July, 2007 – Renamed as the "National Pension Service"
- May, 2009 – Commenced the Retirement Planning Service
- May, 2009 – Launched NPS International Service Center
- January, 2011 – Established NPS International Center
- January, 2011 – Consigned the affairs in relation to collection of contribution to the National Health Insurance Service
- April, 2011 – Implemented a system for assessment and registration of the disabled, in accordance with the Welfare of Disabled Persons Act
- October, 2011 – Commenced support programs for the disabled
- December, 2012 – Determined the scope of income of an insured under the National Basic Living Security Act
- July, 2014 – Support for the Basic Pension operation
- January, 2015 – NPS headquarters relocation to Jeonju
- December, 2015 – Implementation of Retirement Planning Service
- February, 2017 – NPSIM relocation to Jeonju
