[2022 National Audit] Deepening Exodus of National Pension Fund Management Personnel ... Transition to Financial and Investment Institutions

Assemblywoman Kang Sun-woo "Measures Needed to Prevent Workforce Attrition"

[Office of Assemblywoman Kang Seon-woo]

It has been revealed that 20 people resigned from the Fund Management Headquarters, the overseas and alternative investment department of the National Pension Service, by August of this year. This is 7 more resignations compared to the same period last year, raising concerns that the intensified personnel turnover could make it difficult to manage the nation's retirement assets stably.

According to the 'Fund Management Headquarters Resignation and Reemployment Status' data submitted by the National Pension Service to Kang Sun-woo, a member of the National Assembly's Health and Welfare Committee from the Democratic Party of Korea, the number of resignations from the Fund Management Headquarters stood at 20 as of the end of August this year, a 54% increase compared to 13 resignations during the same period last year. Since resignations of fund managers typically cluster at the end of the year, it is analyzed that the total number of resignations this year will exceed last year's 26.

Notably, among the 20 people who left the company this year, 5 were at the team leader, manager, or director level. In 2020 and last year, 3 and 4 people resigned respectively, indicating that the loss of specialized personnel is worsening day by day. From 2020 to August this year, a total of 77 people resigned from the Fund Management Headquarters. Among them, 90% (69 people) were reemployed, and 73% (56 people) moved to financial and investment-related institutions.

Assembly member Kang Sun-woo stated, “The issue of core investment management personnel turnover being the Achilles' heel of the National Pension Service is not new. To enhance the stability of fund management for the hundreds of trillions of won in national retirement funds, fundamental measures to prevent personnel turnover must be established.”

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