'National Pension, Pay More and Receive Less?'... Boiling Public Opinion

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[Asia Economy Reporter Kim Jong-hwa] As the reform of the National Pension Service is gaining momentum, the direction toward a 'National Pension where people pay more and receive less' has become clear, causing public opinion among netizens to boil over.

According to the National Assembly's Special Committee on Pension Reform on the 5th, the private advisory committee under the special committee reported to the committee the following plans: ▲ gradually raising the current 9% contribution rate to 15% over 10 years while maintaining the current 40% income replacement rate ▲ increasing the contribution rate by about 12-15% and raising the income replacement rate to 50% ▲ raising the pension starting age, and will negotiate later to derive a single plan.

Regarding this decision by the private advisory committee, it is reported that within the special committee, "there is generally a positive attitude toward raising the contribution rate, but there is considerable reluctance about raising the income replacement rate to 50%." Ultimately, this means the trend is set toward increasing contributions and receiving less pension.

Joo Ho-young, floor leader of the People Power Party, attended a study meeting hosted by Public Sympathy held at the National Assembly on the 1st and is seen talking with Assemblyman Jung Woo-taek. Photo by Yoon Dong-joo doso7@

In response, related articles on portals such as Naver reporting on the direction of National Pension reform have been flooded with comments criticizing the political circles and government.

A commenter named 'Yun Beop-gyu' wrote, "The conditions for joining the National Pension are worsening over time, and only the contribution rates are increasing. Although it is said to increase from 9% to 15%, it is by no means a small amount," adding, "Considering those who have contributed for decades, the payout rate should also be raised as the contribution rate increases. What crime have the contributors committed? It is the government's crime to deceive the people."

The user with the ID 'herb****' said, "Stop using tricks, don’t pass the burden onto future generations, and do it properly," and criticized politicians by saying, "Politicians must shake off their behavior of only caring about votes."

A netizen using the ID 'samm****' exclaimed, "Where is the workplace that lets you work until 64 years old?" and "I barely manage at 59 years old. I strongly oppose raising the pension age," expressing frustration toward the special committee and advisory members who seem out of touch with reality.

Some netizens also proposed alternatives. The user 'jang****' suggested, "Rather than postponing the pension starting age, one method could be to reduce the pension payment amount to 80% after age 80 or 75."

There were also many claims that other pensions such as the public officials’ pension and private school teachers’ pension should be reformed. 'Jeong Bang-ho' argued, "Pension reform must include the public officials’ pension, military pension, and private school teachers’ pension, and these pensions should be integrated with or reformed alongside the National Pension," adding, "If the government reforms only the National Pension, it will face national resistance."