National Pension Service: "Over 70,000 Regional Subscribers Apply for Pension Insurance Support"

Support up to 45,000 KRW per year upon payment resumption

The National Pension Service announced on the 5th that the number of applicants for the regional subscriber pension insurance premium support, which provides up to 45,000 KRW per month, has exceeded 70,000.

The regional subscriber pension insurance premium support is a system implemented since July last year, where the government supports 50% (up to 45,000 KRW) of the national pension insurance premium for one year when regional subscribers who were exempt from payment due to reasons such as business suspension, unemployment, or leave of absence resume their payments.

Looking at the application status, by age group, those in their 50s accounted for the largest portion at 38.7% (27,263 people). By region, the number of applicants was highest in the metropolitan area, followed by Busan, Daegu, Gyeongnam, and Gyeongbuk, where there is a large economically active population. By support amount, those receiving the maximum support amount of 45,000 KRW accounted for the majority at 92.6% (65,279 people) of all applicants.

In addition to the regional subscriber pension insurance premium support, the Service operates various support programs such as ▲pension insurance premium support for farmers and fishermen ▲Durunuri pension insurance premium support for low-wage workers ▲unemployment credit for job seekers receiving unemployment benefits. Applications can be made by phone, visit, or fax at any of the Service’s nationwide branches, and detailed information including required documents can be obtained at the nearest branch or customer center.

An official from the Service stated, "The premium support system is a very useful program that reduces the burden of payment while increasing pension benefits," and added, "We will continue to strive to help more citizens secure income for their old age through the premium support system."