South Korea approves reforms to shore up $830 bln state pension fund
South Korea's parliament on Thursday passed a bill to reform the country's $830 billion pension fund and delay the depletion of the state fund that has been on track to run out by the mid-2050s due to a rapidly ageing population. The bill's passage marks the first time parliament has agreed to a major shake-up in the state pension fund in 18 years and could delay depletion by 15 years. Under the legislative amendment, contributions and payouts will rise, the former...
