Public Official Pension Act, Article 87 is provision that comprehensively set forth matters about welfare of retired public officials. Public Official Pension Act, Article 87 paragraph 2 are defined as follows. Article 87(Welfare of Retired Public Officials) (1) The Minister of Public Administration and Security shall take necessary measures for the welfare of retired public officials, such as the establishment, operation, etc. of the Retired Public Official Benefits Society. (2) When the GEPS(Government Employees Pension Service) is entrusted with the cash assets of the Retired Public Official Benefits Society or retired public officials, it may manage and operate such assets. But this provision has not yet been performed because of various conditions. So in this paper, I propose legislative improvement to avoid conflicts with applicable law, for practical and effective implementation of Public Official Pension Act Article 87. First, without revision of Public Official Pension Act, I proposed revision the articles of association of GEPS, Article 37(Management of the Fund). Next, to achieve GEPS`s purpose, I suggested creation of new provisions that GEPS can be profitable business to the extent necessary. Finally, to allow for the execution of mutual aid business, I suggested revision of Public Official Pension Act Article 16 (Business Affairs of the GEPS) paragraph 4(Business affairs for the welfare of public officials).