The analysis is conducted by considering the main characteristics of the national pension, which determines the pension level according to one's labor income during the working period. Considering the life cycle, such as the extension of life expectancy, it is necessary to analyze lifetime income until retirement and expected pension assets until death.
The analysis results showed that although the national pension is a representative old-age income security system, it is not sufficient to prepare for retirement income with the national pension alone. Although the pension level is insufficient, it appears to be a good system in terms of profitability. For individuals, it is necessary to give priority to the national pension system for old-age income. In order to secure a more generous old-age income, it is necessary to consider other old-age systems such as retirement pensions. To ensure fiscal sustainability, we may want to consider parametric reforms that could further ease the current benefit-cost structure. In addition, it is necessary to review further maximize the fund management return rate and alleviate the overall financial burden.