The National Pension Service (NPS) is a public pension fund in South Korea that provides financial support to citizens during retirement. Established in 1988, it aims to ensure a stable income for retirees by collecting contributions from workers and employers. The fund is managed by the National Pension Corporation, which invests the collected funds to grow the pension assets. The NPS covers a wide range of individuals, including employees, self-employed workers, and certain non-working individuals. It operates on a pay-as-you-go system, where current contributions are used to pay benefits to existing retirees. This system helps promote financial security for the aging population in South Korea.