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South Korea Plans to Ease Retirement Pension Collateral Rules, Allow Borrowing

GateNews
According to Money Today on July 12, South Korea's government plans to reform its retirement pension system by allowing subscribers to borrow against their pension funds and gradually increasing risk asset limits. The Financial Services Commission, Financial Supervisory Service, and Ministry of Employment and Labor are reviewing amendments to enable private financial institutions to offer collateralized pension loans. Currently, pension receivable rights cannot be transferred or seized as collateral, limiting product development. Risk asset caps, currently capped at 70%, are expected to be gradually raised to 80–90% starting with individual and defined-contribution pension accounts. The government plans to announce these reforms alongside a new fund-type pension plan next month. Retirement pension reserves reached 501.4 trillion won as of end-2024, more than double the 255.5 trillion won in 2020.
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