Yoon Sang-hyun: "The Last Agenda of the 21st Session Should Be Pension Reform, Not the Special Investigation Law on Chae Sang-byeong"

Yoon Sang-hyun, a member of the People Power Party, has called for the National Assembly to swiftly process the National Pension reform bill.

On the 22nd, Yoon wrote on Facebook, "The last agenda of the 21st National Assembly should be pension reform, not the Chae Sang-byeong Special Prosecutor Act (Special Prosecutor Appointment Act for the Investigation of Obstruction and Concealment of the Truth Regarding the Death of a Marine in the Line of Duty)." He added, "This is the last golden time for pension reform, but the ruling and opposition parties are wasting precious time in meaningless power struggles."

Yoon Sang-hyun, a member of the People Power Party, is speaking at the seminar titled "The 2024 General Election Defeat and the Path to Conservative Reconstruction" held at the National Assembly Members' Office Building on the 18th. Photo by Kim Hyun-min kimhyun81@

He pointed out, "If the current system is maintained, due to worsening low birth rates, aging population, and economic slowdown, deficits are expected to occur from 2041, and the fund is projected to be depleted by 2055," adding, "Is there any livelihood issue more important than pension reform?"

Earlier, the ruling and opposition parties reached a consensus on raising the insurance premium rate (from 9% to 13%) to strengthen the sustainability of the National Pension at the National Assembly's Pension Reform Special Committee, but they failed to narrow differences over the income replacement rate (the ratio of pension amount to lifetime average income).

The People Power Party advocated raising the income replacement rate from the current 40% to 43%, while the Democratic Party of Korea insisted it should be raised to at least 45%, effectively causing the pension special committee's agreement to collapse.

Regarding this, Yoon said, "The People Power Party has proposed a compromise of '44% income replacement rate,'" and asked, "Should reform be abandoned over a 1 percentage point difference?"

He emphasized, "Allowing the reform bill to be neglected despite the possibility of reaching an agreement is a crime against future generations," and added, "The last plenary session of the 21st National Assembly on the 28th should prioritize passing the pension reform bill, which will be a burden on future generations, rather than procedurally immature legislation like the Chae Sang-byeong Special Prosecutor Act."

Meanwhile, the Democratic Party requested the convening of a full meeting of the Pension Reform Special Committee on the 23rd, but the People Power Party opposed holding the meeting, citing lack of schedule coordination and agenda. The term of the 21st National Assembly ends on the 29th of this month.