By Do Je-hae
A political impasse is jeopardizing President Park Geun-hye's drive to overhaul the civil service pension system, an issue that has gained urgency amid the government's growing deficit.
The National Assembly failed to vote on a revision bill in a plenary session Wednesday after rival parties failed to narrow their differences over the revision.
Aside from the pension bill, the Assembly missed out on approving a host of urgent bills for boosting the economy. The main opposition New Political Alliance for Democracy (NPAD) refused to attend the plenary session Wednesday night unless their demands on pension reform were met.
Experts say that the deadlock over pension reform reflects the parties prioritizing their own interests over people's livelihoods.
They added that the National Pension Fund (NPF) emerging as a roadblock to the pension deal was not a valid excuse.
"It was the civil service pension system that the government has sought to reform," said Shin Yul political science professor of Myongji University. "And yet, the Assembly failed to pass the revision bill because of their differences over the NPF. This is like putting the cart before the horse."
He said that reforming the NPF is a separate issue that should be pursued based on public consensus. "The Assembly should focus solely on civil service pension reform," Shin added.
Former National Assembly Speaker Lee Man-sup said he was deeply frustrated with the proceedings on the final day of the plenary session.
"The right thing for the Assembly to do was to pass bills that have relevance to the people, despite differences over the civil servants' pension," Lee told The Korea Times. "The good of the nation should come before party interests."
Parties will continue discussions and seek to pass the bill in May. A month-long extraordinary session will start May 11.
"The Assembly should not rush the bill," said Prof. Chung Goon-gi at Hongik University. "By delaying the vote, the Assembly has gained more time to properly examine pension revisions."
Last-minute disagreements on the pension bill delayed a full session at the legislature, cancelling voting on a series of urgent economy-related bills.
Rival parties have conflicting positions on pursuing the civil servants pension bill in connection with revising the NPF.
The Saenuri Party and the NPAD had tentatively reached a consensus on a controversial plan to raise the income replacement ratio of the NPF. But Saenuri Party Chairman Kim Moo-sung and several other members of the party's Supreme Council scrapped the agreement at the last minute, leading the NPAD to boycott the plenary session altogether.
"The Saenuri Party has abandoned its agreement with the opposition to appease Cheong Wa Dae," NPAD Chairman Moon Jae-in said Wednesday.
President Park Geun-hye has said that she is against civil servants pension reform in connection with the NPF for fear of an increased tax burden.
"Parties should stick to any agreement they made," Lee said. "This is a political principle they must adhere to."
According to the new law, a civil servant whose monthly salary is three million won ($2,800) will have to pay a 270,000 won pension premium per month, up from the current 210,000 won.
The pension they would receive after retirement will also fall to 1.53 million won from 1.71 million won.
A political impasse is jeopardizing President Park Geun-hye's drive to overhaul the civil service pension system, an issue that has gained urgency amid the government's growing deficit.
The National Assembly failed to vote on a revision bill in a plenary session Wednesday after rival parties failed to narrow their differences over the revision.
Aside from the pension bill, the Assembly missed out on approving a host of urgent bills for boosting the economy. The main opposition New Political Alliance for Democracy (NPAD) refused to attend the plenary session Wednesday night unless their demands on pension reform were met.
Experts say that the deadlock over pension reform reflects the parties prioritizing their own interests over people's livelihoods.
They added that the National Pension Fund (NPF) emerging as a roadblock to the pension deal was not a valid excuse.
"It was the civil service pension system that the government has sought to reform," said Shin Yul political science professor of Myongji University. "And yet, the Assembly failed to pass the revision bill because of their differences over the NPF. This is like putting the cart before the horse."
He said that reforming the NPF is a separate issue that should be pursued based on public consensus. "The Assembly should focus solely on civil service pension reform," Shin added.
Former National Assembly Speaker Lee Man-sup said he was deeply frustrated with the proceedings on the final day of the plenary session.
"The right thing for the Assembly to do was to pass bills that have relevance to the people, despite differences over the civil servants' pension," Lee told The Korea Times. "The good of the nation should come before party interests."
Parties will continue discussions and seek to pass the bill in May. A month-long extraordinary session will start May 11.
"The Assembly should not rush the bill," said Prof. Chung Goon-gi at Hongik University. "By delaying the vote, the Assembly has gained more time to properly examine pension revisions."
Last-minute disagreements on the pension bill delayed a full session at the legislature, cancelling voting on a series of urgent economy-related bills.
Rival parties have conflicting positions on pursuing the civil servants pension bill in connection with revising the NPF.
The Saenuri Party and the NPAD had tentatively reached a consensus on a controversial plan to raise the income replacement ratio of the NPF. But Saenuri Party Chairman Kim Moo-sung and several other members of the party's Supreme Council scrapped the agreement at the last minute, leading the NPAD to boycott the plenary session altogether.
"The Saenuri Party has abandoned its agreement with the opposition to appease Cheong Wa Dae," NPAD Chairman Moon Jae-in said Wednesday.
President Park Geun-hye has said that she is against civil servants pension reform in connection with the NPF for fear of an increased tax burden.
"Parties should stick to any agreement they made," Lee said. "This is a political principle they must adhere to."
According to the new law, a civil servant whose monthly salary is three million won ($2,800) will have to pay a 270,000 won pension premium per month, up from the current 210,000 won.
The pension they would receive after retirement will also fall to 1.53 million won from 1.71 million won.
