National Pension 'Pay More, Receive More'... Income Security Theory Prevails (Comprehensive)

Pension Contribution Upper Age Limit Raised to 64 'Overwhelming'
Debate Over Maintaining Basic Pension vs Reducing Scope and Strengthening Lower Income 'Within Margin of Error'

The public opinion survey on national pension reform showed that the ‘income guarantee theory,’ which advocates paying more and receiving more, is predominant. Regarding the extension of the mandatory national pension enrollment upper age limit from 60 to 64, 8 out of 10 people expressed support. Opinions on the basic pension were divided, with some favoring maintaining the current system and others advocating for narrowing the scope of beneficiaries.

Kim Sang-gyun, Chairman of the National Assembly Pension Special Committee's Public Deliberation Committee, is disclosing the survey results on the National Pension reform plan conducted with a citizen delegation (500 people) at the National Assembly Communication Office on the 22nd. Photo by Kim Hyun-min kimhyun81@

The National Assembly’s Special Committee on Pension Reform Public Deliberation Committee announced the results of a survey conducted on citizen representatives who participated in the pension reform public deliberation on the 22nd. The citizen deliberation group, consisting of 492 participants, showed 56.0% agreement with the income guarantee theory, which proposes raising the contribution rate (amount paid) to 13% and the income replacement rate (amount received) to 50%. Currently, the contribution rate is 9%, and the income replacement rate is 40%. The fiscal stability theory, which supports increasing the contribution rate to 12% while maintaining the income replacement rate at 40%, received 42.6% support.

An interesting point is that over the three rounds of surveys during the public deliberation period, public opinion shifted from the fiscal stability theory to the income guarantee theory. In the first survey, the fiscal stability theory had 44.8% support, while the income guarantee theory had 36.9%. However, through learning and deliberation for public discussion, opinions shifted.

Regarding the upper age limit for mandatory enrollment and the upper age limit for benefit commencement, there was strong support for raising the mandatory enrollment age to 64 and setting the benefit commencement age at 65. In the final survey, 80.4% of respondents supported the reform plan to set the upper age limit at 64 and the benefit commencement age at 65.

Concerning the relationship between the basic pension and the national pension, 52.3% favored maintaining the current level, while 45.7% supported narrowing the scope of basic pension beneficiaries and strengthening income support for lower-income groups. The opinions on both sides were within the margin of error according to the survey.

Regarding retirement pensions, 46.4% favored converting them into quasi-public pensions. This was followed by 27.1% supporting stricter conditions for early withdrawal, and 20.3% advocating maintaining the current system.

Kim Sang-gyun, Chair of the Public Opinion Survey Committee, said, "Now it is the time for the National Assembly," and added, "I ask for much support and encouragement so that the pension reform, a task of the times, can be promptly achieved within this National Assembly term." He also stated, "A detailed report including changes in opinions at each deliberation stage and the effectiveness of learning will be prepared and announced by next week."