Choi Sang-mok urges pension reform

[Anchor]

In our ongoing coverage of the super-aged society, today (Feb.11) we will examine the issue of the National Pension.

Currently, about half of National Pension recipients receive less than 400,000 won a month.

As the number of contributors to the National Pension decreases while the number of beneficiaries increases, concerns about the depletion of the fund are consistently raised.

Acting President Choi Sang-mok has stated that pension reform is urgent and has called for bipartisan agreement.

Hong Seong-hee reports.

[Report]

Elderly individuals met at a welfare center express that they rely solely on the National Pension, yet they are struggling to make ends meet.

[Mr. A/78 years old: "I receive about 270,000 won. I paid into the National Pension for a short period of time and the amount is small, so that's what I'm getting."]

[Mr. B/81 years old: "I'm just getting by on that (National Pension). Medical expenses are a bit burdensome, but I have to go to the hospital."]

There are approximately 6.95 million National Pension recipients nationwide.

Among them, about half, or 3.49 million, receive less than 400,000 won each month.

Moreover, the actual income replacement rate, which indicates how much the pension amount corresponds to the average lifetime income, is 31%, which is more than 10 percentage points lower than the OECD average.

Due to the effects of low birth rates and aging, the number of contributors has decreased by 570,000 compared to a year ago, while the number of recipients has increased by 410,000.

If pension reform continues to be delayed, this trend is bound to accelerate.

[Joo Eun-sun/Professor of Social Welfare at Kyonggi University: "Even with the National Pension, it falls significantly short of 50% of the median income, meaning it is quite difficult to effectively prevent old-age poverty with the National Pension."]

Acting President Choi Sang-mok also emphasized that pension reform is urgent and urged the National Assembly to present an agreement by the end of this month.

[Choi Sang-mok/Acting President: "If the National Pension continues to be operated as it is now, it will turn into a deficit in 2041 and the fund will be completely depleted by 2056."]

While both parties agree on the urgency, they are engaged in a political tug-of-war amid the impeachment situation, failing even to schedule discussions.

There are concerns that if this continues, the pension reform, which has been awaited for 18 years, may fall through.

This is KBS News, Hong Seong-hee.