SEJONG, Nov. 25 (Korea Bizwire) — The national pension fund said Monday that the number of its recipients reached 7 million this month, marking the first time the milestone has been reached since its launch in 1988. “More than half of South Koreans aged 65 and above are currently receiving national pension,” the National Pension [...]
SEOUL, Oct. 23 (Korea Bizwire) – A recent survey has revealed that 60% of South Korean adults support stabilizing the national pension system to ensure future generations can receive benefits at least equal to their contributions. The poll also showed that young people, particularly those in their 20s and 30s, harbor deep skepticism about the sustainability [...]
SEOUL, Oct. 14 (Korea Bizwire) – A recent survey reveals growing discontent among young South Koreans regarding the country’s national pension system, with nearly 30% of those in their 20s and younger advocating for its abolition. The Youth Action for Pension Reform commissioned a poll conducted on October 7 and 8, surveying 1,001 South Koreans aged [...]
SEOUL, Aug. 19 (Korea Bizwire) – As the South Korean government prepares to unveil its national pension reform plan, a recent survey has revealed that younger generations, particularly those in their 20s and 30s, are more concerned about the likelihood of receiving pension benefits in the future than the system’s financial stability. The survey, conducted by [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s state pension operator said Friday its fund is anticipated to be depleted in 2055 should the country maintain the current system amid the critically low birth rates and the aging population. The fund is also set to post a shortfall starting in 2041, according to the latest [...]
SEOUL, Dec. 14 (Korea Bizwire) — Amid concerns that the financial condition of the National Pension Service will continue to worsen at a faster pace, the presidential candidate of the minor opposition party pointed out the problem in the national pension’s investment strategy. During an internal meeting held at the National Assembly on Monday, Ahn [...]
SEOUL, Apr. 23 (Korea Bizwire) — The Hana Institute of Finance, a research unit of Hana Financial Group Inc., has suggested in its “Report on the Retirement Life of South Korean National Pensioners” published on Monday that nearly half of the recipients of the national pension plan see a 50 percent drop in their purchasing [...]
SEOUL, Mar. 27 (Korea Bizwire) — An increasing number of South Korean divorcees are sharing the national pension received by their ex-spouses due to rising gray divorces, data showed Wednesday. According to the data from the National Pension Service, 28,259 people were receiving part of their ex-spouse’s pension as of end-2018, a sharp increase from [...]
SEOUL, Dec. 24 (Korea Bizwire) — The government is pushing to revise a law that will permit divorced people to immediately claim part of the national pension received by their ex-spouses if the couple were married for at least one year, officials said Monday. Under the current system, a couple needs to be married for [...]
SEOUL, Dec. 17 (Korea Bizwire) — The welfare ministry said Monday it is reviewing a regulatory change that would allow divorcees to claim part of the national pension received by their ex-spouses after just one year of marriage. Eligibility for pension sharing currently comes with a number of prerequisites, including minimum five years in marriage [...]