In a significant step towards enhancing Bhutan’s pension system, the National Pension and Provident Fund (NPPF) of Bhutan signed a Memorandum of Understanding (MoU) with the National Pension Service (NPS) of South Korea on March 24, 2025. This collaboration aims to foster mutual growth in pension management through knowledge sharing, research, and training initiatives.
About the National Pension Service (NPS) of South Korea
Established in 1988, the National Pension Service (NPS) of South Korea is one of the world’s largest public pension funds. It plays a crucial role in ensuring financial security for retirees, covering employees, the self-employed, and voluntary contributors across the country. With assets under management exceeding USD 900 billion, NPS is known for its strong investment strategies and well-structured pension schemes that provide retirement benefits, disability pensions, and survivor pensions to its members.
A Step Towards a Stronger Pension System
The MoU reflects the commitment of both NPPF and NPS Korea to improving pension policies, strengthening schemes, and exchanging best practices. Through this partnership, both institutions will collaborate on:
✅ Education & Training – Conducting study visits, training programs, and expert exchanges.
✅ Knowledge Sharing – Exchanging insights on pension policies, legislation, and best practices.
✅ Joint Research & Projects – Working together on pension-related studies and initiatives.
✅ Personnel Exchange – Facilitating staff exchanges to enhance expertise in pension operations.
✅ Conferences & Events – Organizing joint symposiums and forums on pension management.
Insights from NPS: A Learning Opportunity
On March 25, 2025, a day after the MoU signing, the NPS Korea team conducted an insightful presentation on “NPS at a Glance.” The session covered:
🔹 The history and structure of South Korea’s pension system
🔹 The benefits provided to pensioners and beneficiaries
🔹 Best practices and strategies for long-term pension sustainability
The NPS delegation was led by Mr. Taegyu Jeong, Executive Director for Pension Operations, reinforcing the importance of this partnership in advancing Bhutan’s pension framework.
Building a Secure Future Together
This collaboration marks a significant milestone in NPPF’s journey toward strengthening Bhutan’s retirement security. By leveraging international expertise, we aim to develop a more robust and sustainable pension system for our members.
