Democratic Party's Jin Sung-jun "Pension Parameter Reform, Targeting Processing in March"

Democratic Party Policy Committee Press Briefing on Current Issues
"If the Ruling Party Delays, We May Consider Handling It in the Health and Welfare Committee"

Jin Seong-jun, the Policy Committee Chairman of the Democratic Party of Korea, stated on the 18th regarding pension reform, "If the People Power Party delays the parametric reform by presenting unreasonable conditions, we are also considering handling it through the National Assembly's Health and Welfare Committee."

Jin Seong-jun, Policy Committee Chairman of the Democratic Party of Korea (left), is answering questions from reporters at a press briefing of the Policy Committee on policy issues including pension reform held at the National Assembly in Yeouido, Seoul on the 18th. Photo by Yonhap News

On the same day, Jin held a press briefing of the Policy Committee on policy issues including pension reform at the National Assembly Main Building in Yeouido, Seoul, and said, "We aim to process the pension reform plan within this month."

He added, "Waiting indefinitely for an agreement on the parametric reform is irresponsible," and "I believe it must be processed during the March extraordinary session of the National Assembly."

When asked about the background of the People Power Party's insistence on including the phrase 'bipartisan agreement,' he said, "The biggest argument the government has used to reject bills passed by the National Assembly was that 'a bipartisan agreement was not reached,'" and expressed concern, "I suspect this is an intention to use bipartisan agreement as a justification that goes beyond the constitutional principle of majority rule."

Regarding accepting the phrase of bipartisan agreement, he drew a line by saying, "Since it could cause disruptions to overall floor management, we are viewing it cautiously."

Regarding opinions that pension reform will become difficult due to the political situation after the impeachment trial ruling of President Yoon Seok-yeol, he dismissed them as "groundless concerns."

Currently, the ruling and opposition parties have agreed on the parametric reform plan of the National Pension Service, which includes 'insurance premium rate of 13% and income replacement rate of 43%.' However, there are disagreements between the parties on detailed matters such as the composition of the Pension Reform Special Committee, expansion of childbirth credits, and military service credits.