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    • We Invest Today for
    People's Better Tomorrow
    NPSIM : at a Glance

    The National Pension Fund (NPF) is managed by the National Pension Service (NPS) on behalf of the Minister of Health and Welfare in accordance with investment policies and asset allocation plans approved by the National Pension Fund Management Committee, the highest decision-making body, with an aim of maximizing returns and ensuring the long-term financial stability of pension funds.

    Tatal Fund (As of end-Apr 2026)
    1670.7KRW tn
    Investment Income (As of end-Apr 2026)
    1177.9KRW tn
    Return Since Inception (1988~2025)
    8.04%

    Fund Status

    As the world's third-largest pension fund by total assets, the NPF amounted to KRW 1,670.7 trillion, which is calculated by substracting pension benefits and general & administrative expenses of KRW 452.8 trillion from contributions and investment income of KRW 2,123.5 trillion.

    As of end-Apr 2026, in trillion won

    total2,123.5KRW tn

    Revenues

    • Contributions945.5
    • Investment Income1177.9
    Total452.8KRW tn

    Expenses

    • Pension Benefits439.1
    • G&A Expenses, etc.13.7
    total1670.7KRW tn

    Reserve Fund

    • Financials1669.2
    • Welfare & Others1.5

    Fund Growth

    Since its inception in 1988, the NPF has grown significantly to reach KRW 1,670.7 trillion at the end of Apr, 2026.

    As of end-Apr 2026 | in trillion won

    View more
    국민연금기금의 적립금을 보여주는 그래프 - 1988년부터 시작해서 2003년 : 적립금 100조 원 돌파, 2010년 : 적립금 300조 원 돌파, 2015년 : 적립금 500조 원 돌파, 2019년 : 적립금 700조 원 돌파, 2023년 : 적립금 1,000조 원 돌파. 연도별 적립금 추이 그래프 - 1988년 : 0.5조 원, 1999년 : 47.2조 원, 2003년 : 116.7조 원, 2007년 : 219.5조 원, 2011년 : 348.9조 원, 2015년 : 512.3조 원, 2019년 : 736.6조 원, 2026년 4월 : 1,670.7조 원

    Fund Growth

    • 1988: 0.5 KRW tn
    • 1999: 47.2 KRW tn
    • 2003: 116.7 KRW tn
    • 2007: 219.5 KRW tn
    • 2011: 348.9 KRW tn
    • 2015: 512.3 KRW tn
    • 2019: 736.6 KRW tn
    • 2024.12: 1212.9 KRW tn

    Investment Performance

    Amid growing economic and financial uncertainties and challenges at home and abroad, the NPS has constantly exerted utmost efforts to deliver sustainable value over the long term in a bid to ensure the financial stability of pension funds.

    As of end-Apr 2026 | in trillion won

    View more

    1988-2026 Cumulative Investment Return

    1,177.9 KRW tn

    1988~2025 Annualized Average Rate of Return

    8.04 %

    기금운용 연도별 수익금 그래프 - 2021년 : 91.2조 원, 2022년 : -79.6조 원, 2023년 : 126.7조 원, 2024년 : 159.7조 원, 2025년 : 231.6조 원, 2026년 4월 : 208.6
    • 2020: 72.1 KRW tn
    • 2021: 91.2 KRW tn
    • 2022: -79.6 KRW tn
    • 2023: 126.7 KRW tn
    • 2024: 159.7 KRW tn
    • 2025.1: 10.4 KRW tn
    Global Equity 36.5%, Domestic Equity 21.0%, Altematives 16.2%, Global Fixed Income 6.9%, Domestic Fixed Income 19.2%, Short-term Assets 0.2%, Welfare/Others 0.1%

    Investment Portfolio As of end- Apr 2026, Unit : trillion won, %

    Investment Portfolio table
    Financials 1669.2KRW tn 99.9 %
    Domestic Equity 419.5KRW tn 25.1 %
    Domestic Fixed income 293.6KRW tn 17.6 %
    Global Equity 604.5KRW tn 36.2 %
    Global Fixed Income 103.1KRW tn 6.2 %
    Alternatives 245.7KRW tn 14.7 %
    Short-term Assets 3.6KRW tn 0.2 %
    Welfare/Others 1.5KRW tn 0.1 %
    1670.7KRW tn
    View more

    Global Investment (Financials)

    Given the rapid increase in fund size, the NPS places great emphasis on increasing exposure to overseas investments and diversifying the portfolio by geography to generate stable returns over the long run.

    As of end-Apr 2026

    Domestic Investment44.3%(739.3 KRW tn)
    Global Investment55.7%(930.7 KRW tn)

    detail

    • Equity 65.0%(604.5 KRW tn)
    • Fixed Income 11.1%(103.1 KRW tn)
    • Alternatives 23.8%(221.4 KRW tn)

    External Management (Financials)

    The NPS partners with external managers to harness their extensive expertise and capabilities with a view to maximizing returns and better managing risks.

    As of end-Apr 2026

    Internal Management48.1%(803.7 KRW tn)
    External Management51.9%(866.3 KRW tn)

    detail

    • Equity 60.5%(524.0 KRW tn)
    • Fixed Income 11.5%(100.0 KRW tn)
    • Alternatives 28.0%(242.3 KRW tn)

    Asset Allocation Plan

    Each year, the National Pension Fund Management Committee sets mid-term asset allocation targets with a time horizon of five years, and develops an annual fund management plan that reflects the market outlook and the financial status of pension funds to facilitate the attainment of the mid-term targets.

    Annual Fund Management Plan Target Portfolio by 2026

    • Domestic Equity
      20.8%
    • Global Equity
      34.7%
    • Domestic Fixed Income
      23.1%
    • Global Fixed Income
      7.4%
    • Alternatives
      14.0%

    Mid-term Asset Allocation Plan Target Portfolio by 2031

    • Equity
      ± 55%
    • Fixed Income
      ± 30%
    • Alternatives
      ± 15%