Handonghun "Oppose the National Pension Act Amendment... A Structure Where the Older Generation Benefits at the Expense of Youth"

"Young People Should Not Suffer More Losses Than the Older Generation"

Former People Power Party leader Han Dong-hoon raised his voice, saying he "opposes the amendment to the National Pension Act."

Former People Power Party leader Han Dong-hoon is attending the book concert for his autobiography "The People Come First" at the Youth Culture Space JU in Mapo-gu, Seoul on March 5, 2025. Photo by Jo Yong-jun

On the 20th, Han said on his Facebook, "It is because the structure allows the older generation to benefit at the expense of the youth."

He added, "It is true that there is no correct answer to this issue, but young people should not suffer more losses than the older generation. Even if it is advantageous in terms of vote calculation, politics should not be like that," emphasizing his point.

He continued, "Young people need to take the lead and find better ways," and said, "Real reform for the future of the Republic of Korea is necessary."

On the same day, the National Assembly held a plenary session and passed the amendment to the National Pension Act, which includes the reform plan to raise the contribution rate from 9% to 13% and the income replacement rate from 40% to 43%. The contribution rate refers to the amount subscribers pay monthly, and the income replacement rate refers to the ratio of the pension amount received compared to the average income during the pension subscription period.

This National Pension reform is the first in 18 years since 2007 based on the income replacement rate, with the core principle being "pay more, receive more." According to data received by Assemblyman Kim Seon-min of the Party for National Innovation from the National Pension Service, a salaried worker earning 3.09 million won who newly subscribes next year and pays contributions for 40 years will pay 54.13 million won more than the current system and receive 21.7 million won more.