Pension Future Forum: "The National Pension Fund Must Not Be Squandered as Petty Cash for Exchange-Rate Intervention"
- #국민연금법
Pension Future Forum Issues Emergency Statement
"New Framework Blindfolds and Deafens the Public"
The Pension Future Forum convened its 9th Seminar in the afternoon of December 3 near Jung-gu, Seoul, and issued an emergency statement declaring that "the National Pension Fund must not be squandered as petty cash for exchange-rate intervention."
The Forum further stated: "The root cause of the current sharp rise in the exchange rate is largely attributable to a decline in relative value driven by an excessively large money supply. An internal disorder has produced the external symptom of a currency plunge — yet the notion of attempting to treat it by applying the National Pension Fund as an ointment must be abandoned immediately."
The Pension Future Forum added: "The National Pension Fund Management Committee — duly established under the National Pension Act with the Minister of Health and Welfare as its chair — already exists. Why, then, is a consultative body being created to deliberate on the direction of fund management? The government is attempting to conceal the truth from the public by dressing this up as a 'New Framework.'"
They further stated: "If the government or the state regards the National Pension Fund — which constitutes citizens' retirement income and the individual property rights of every citizen — as petty cash to be spent at will, it will face fierce resistance from the youth of the Republic of Korea, future generations, and the people at large."
