<b>A Policy Proposal to Strengthen the Income Redistribution Function of the National Pension Scheme in South Korea: An Analysis of South Korea's 5th National Pension Comprehensive Plan (Draft)</b>

In this paper, we elucidate the income redistribution effects of the Korean Bend Points Scheme (KBPS) through micro-simulation analysis using individual data from the Korean Labor &amp; Income Panel Study (KLIPS). In addition to examining the effects of introducing the KBPS into the current National Pension Scheme (NPS), we also consider the impact when this scheme is combined with the 5th National Pension Comprehensive Plan (Draft), announced by the Korea’s Ministry of Health and Welfare on October 30, 2023.