(EDITORIAL from JoongAng Daily on Nov. 5)

Pension reform a farce

The president???s cabinet approved a bill to amend the Government Employees
Pension Act in a meeting yesterday.

The bill was unchanged from the original that
the committee for developing pension programs had proposed earlier, even though
it was criticized for being too generous to public employees. The Ministry of
Public Administration and Security explained that the bill was unchanged because
public opinion supported it.

But the committee meetings were plagued by complaints. One member said that it
was difficult to express his opinions in the civil servant-dominated committee.
In hearings on national pension program reform on Oct. 14, unionized civil
workers even stormed the place and caused chaos.
Participants said it was difficult to even hold the hearings, let alone listen to
public opinion. Experts complain that efforts to reform the public pension system
never had a chance. Some say that the reforms shouldn???t have been left to civil
workers. Civil workers from the Ministry of Public Administration and Security
served as committee organizers and representatives from civil workers???
organizations participated as members. This made it hard to argue that benefits
for civil workers should be reduced.
Now it is up to the National Assembly. Reform of the public employee pension
program is important because it will be followed by reform in pension programs
for teachers at private schools and for professional soldiers.
The ruling and opposition parties must present a new bill to reform the pension
program. The keys are sustaining equality and resolving deficits in the fund.
The committee says its bill is designed to increase individual fees and to lower
benefits but civil workers still receive much bigger benefits after retirement
than pensioners in general.
If the fund is managed the way it is now, in 10 years the deficit will be five
times bigger than now. As the Korea Development Institute requires, individual
fees must be increased by more than 10 percent and benefits must be lowered
substantially in order to resolve the two key issues.
As the world economy suffers, all tighten their belts. Civil workers must do the
same. They should be thankful that citizens have protected their jobs so far.
They should stop asking for the impossible - that their lives after retirement be
protected with taxpayer money. Civil servants must not even think of disrupting
discussions at the National Assembly. The people???s patience is running out.
(END)