The National Pension Service of Korea (NPS; ) is a public

pension A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ...

fund in

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

. It is the third largest in the world with $800 billion in assets, and is the largest investor in South Korea. South Korea's National Pension Service (NPS), which oversees $800 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 One Vanderbilt is a 93-story supertall skyscraper at the corner of 42nd Street and Vanderbilt Avenue in the Midtown Manhattan neighborhood of New York City. Designed by Kohn Pedersen Fox, the building was proposed by developer SL Green Realty ...

Timeline

* December, 1986 – Promulgated the Nation Pension Act * September, 1987 – Established the National Pension Corporation * January, 1988 – Implemented the national pension system (Limited to workplaces with 10 or more full-time employees) * 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 (compulsory coverage in urban areas) * 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 (Integrated the former International Cooperation Department and the NPS International Service Center) * January, 2011 – Consigned the affairs in relation to collection of contribution to the National Health Insurance Service (NHIS) * April, 2011 – Implemented a system for assessment and registration of the disabled (all levels), 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 Jeonju () is the 16th largest city in South Korea and the capital of North Jeolla Province. It is both urban and rural due to the closeness of Wanju County which almost entirely surrounds Jeonju (Wanju County has many residents who work in Jeonju) ...

* December, 2015 – Implementation of Retirement Planning Service * February, 2017 – NPSIM relocation to

Notes

External links

National Pension Service(In English)
{{SouthKorea-company-stub Companies based in Seoul Financial services companies of South Korea Sovereign wealth funds Government-owned companies of South Korea 1987 establishments in South Korea Public pension funds