South Korea’s mandatory retirement pension system, with a contribution rate of 8.3%, is facing calls for reform. Currently dominated by employer-led contract-style funds, experts are advocating a shift towards a participation-based fund model involving both employers and employees. This change aims to enhance the system’s effectiveness in providing adequate retirement income after a 30-year period. The current system’s structure limits worker involvement and potentially hinders optimal fund management. Advocates believe a more inclusive model will improve returns and better serve the needs of retirees. The push for reform highlights concerns about maximizing the benefits of the existing, relatively high, contribution rates.