80% of Citizens Agree on 'National Pension Reform'... 40% Support 'Pay More, Receive More'

Ministry of Health and Welfare Submits National Pension Survey Results to the National Assembly

About 80% of National Pension subscribers believe that reform is necessary, according to a survey. Among the respondents, 40% chose the reform direction of 'pay more and receive more.'

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On the 20th, the National Pension Service announced the results of a survey on perceptions of National Pension reform conducted from July to August this year, targeting 2,025 National Pension subscribers and beneficiaries nationwide aged 20 to 59. When asked about the necessity of reforming the National Pension system, 81.3% agreed (31.2% strongly agreed).

Among the reasons for seeing reform as necessary, the highest response rate was 35.5% for 'because the future financial stability of the National Pension may become uncertain.' This was followed by 'to increase confidence in receiving pensions in the future' (34.9%) and 'to reduce the burden on future generations' (26.9%).

Thirty-eight percent of respondents answered that the system should be reformed to 'pay more and receive more (than now).' Next, 23.4% chose 'pay less and receive less reform,' and 21.0% chose 'pay more and receive the same amount as now reform.'

The top priority task in the process of reforming the National Pension system was 'collecting and participating in the opinions of all citizens through social dialogue,' which accounted for the highest rate at 35.7%.

Forty-six point six percent of respondents said that the pension amount relative to the National Pension contribution rate is 'low.' Among them, 39.3% said it was somewhat low, and 7.3% said it was very low. Only 20.6% responded that it was 'high.'

Regarding trust in the management of the National Pension fund, 40.6% responded that they 'do not trust' it. Those who said they trust it accounted for 21.5%.

The percentage of respondents who agreed that the Basic Pension system needs reform was 69.2%. The Basic Pension is paid to seniors aged 65 and over in the bottom 70% income bracket. Regarding the direction of reform, the most common answer, at 43.0%, was 'to limit the recipients to low-income elderly and increase the benefit amount.'

The government submitted a total of 25 basic data materials necessary for social discussion, including this survey report, to the National Assembly on the same day.