content
Governance
The National Pension Fund (NPF) is governed by the National Pension Act and administered by the Minister
of Health and Welfare. Key matters on fund management are approved by the National Pension Fund Management
Committee (FMC), chaired by the Minister. As sub-committees of the FMC, the National Pension Fund
Management Practice Evaluation Committee and three Special Committees provide advice and make
recommendations.
Under the National Pension Service, commissioned by the Minister to manage the NPF, the National Pension
Service Investment Management performs a wide array of activities in accordance with investment policies
and guidelines approved by the FMC, ranging from investments in domestic and global equities, fixed income
and alternatives, to risk management and stewardship activities. An in-house research institute, National
Pension Research Institute, conducts extensive research on matters pertaining to public pension plans and
assesses the performance of the NPF.
Governance Model
Ministry of Health and Welfare
-
- National Pension Fund Management Committee
(Chair: Minister of Health and Welfare) -
- Committee members: a Chair, 5 ex officio members and 14 persons including external experts and individuals representing employers, employees and contributors
- Role & Responsibility: Set and give directions on investment policies; make decisions on key matters relating to fund management, including performance assessment, the development of guidelines and asset allocation plans, etc.
- National Pension Fund Management Committee
-
- National Pension Fund Management Practice Evaluation Committee
(Chair: Vice Minister of Health and Welfare) -
- Committee members: a Chair, 5 ex officio members, and 14 persons including external experts and individuals representing employers, employees and contributors
- Role & Responsibility: Conduct a preliminary review of agendas to be submitted to the National Pension Fund Management Committee
- National Pension Fund Management Practice Evaluation Committee
-
- Special Committee on
Investment Policy
(Chair: Person elected
among full-time members) - Provide advice on major policy agendas in relation to fund management
- Special Committee on
Responsible Investment &
Governance
(Chair: Person elected
among full-time members) - Review key matters concerning shareholder activities, responsible investment, etc.
- Special Committee on Risk
Management and
Performance Evaluation &
Compensation
(Chair: Person elected
among full-time members) - Provide advice on performance assessment policies and examine compensation policies
- Special Committee on
National Pension Service
-
- National Pension
Research Institute - Conduct research on public pensions, financial accounting, fund management, etc.
- National Pension
-
- National Pension Service
Investment Management - Manage and invest the National Pension Fund, conduct responsible investment and risk management, etc.
- National Pension Service
-
- Audit
- Compliance