The purpose of this Act is to contribute to the enhancement of national welfare by defining the rights of citizens and the responsibilities of the State and local governments on social security and by prescribing basic matters on the establishment and implementation of social security policies and their related systems.

The basic ideology of social security is to realize a social integration and a happy welfare society in order to allow all citizens to lead a happy living worthy of human dignity without various social risks, by supporting their self-reliance and establishing necessary systems and conditions for social participation and self-realization.

(1) The State and local governments shall bear responsibility for maintaining and promoting a decent life for all citizens.

(2) The State and local governments shall reasonably share their responsibilities and roles concerning social security.

(3) The State and local governments shall meet the level of development of the State, preemptively respond to changes in social environments, establish a sustainable social security system, and raise funds necessary therefor each year.

(4) In order to operate a social security system in a secure manner, the State shall biannually calculate estimated financial needs for a mid- to long-term social security projects and publicly announce them.