Handonghun "Pension Reform, Generation 86 Enjoys Benefits While Youth Bears Burden... Veto and Reconsideration Needed"

"If the Amount Received Had Stayed the Same, the Amount Paid Could Have Been Raised"
Veto Should Be Exercised and the Matter Reconsidered
Na Kyung-won: "This Reform Is a Conditional Agreement, Fundamental Reform Must Be Discussed by the Pension Special Committee"

Former People Power Party leader Han Dong-hoon argued on the 23rd that a 'veto' should be exercised against the National Pension Act amendment passed through bipartisan agreement. Regarding this pension reform bill, Han said, "The 86 generation, who receive more pension benefits, are enjoying the sweet rewards, while the younger generation, who must pay the increased amount for decades to receive pensions, are bearing the burden alone," adding, "The veto should be exercised and the matter should be discussed again."

Han stated on social media (SNS) that "the passed bill raised not only the 'amount paid' but also the 'amount received' (income replacement rate)," and "the 'amount paid' was increased slowly over eight years, while the 'amount received' was raised immediately." He pointed out, "Considering the original purpose was to amend the law due to a shortage of funds, increasing the amount received is strange," but also noted, "If the 'amount received' had remained the same, the 'amount paid' could have been raised less."

He criticized, "Even in this situation where pain should be shared, the 86 generation gains benefits instead of suffering, and the younger generation suffers more for that."

Regarding pension reform, Han criticized the evaluations of Lee Jae-myung, Democratic Party leader, who said "the National Assembly and political circles have done something worthy of praise from the people for the first time in a while," and Hong Joon-pyo, Daegu mayor, who said "they oppose just because the old generation opposes; it's unfortunate that they say such things without understanding." Han called these remarks "shameful" and "regrettable," adding, "They try to teach the younger generation as if there is some profound meaning that the younger generation cannot understand, but I can say with certainty that there is no such deep meaning."

Woo Won-shik, Speaker of the National Assembly, Kwon Seong-dong, Floor Leader of the People Power Party (left), and Park Chan-dae, Floor Leader of the Democratic Party of Korea (right), are announcing the agreement on the National Pension reform plan in the Speaker's office of the National Assembly on March 20, 2025. Photo by Kim Hyun-min

He also expressed skepticism about whether structural reform could be promoted through this reform. Han said, "The discussion on structural reform is realistically unlikely in the current chaotic political situation," and criticized, "The Democratic Party has taken care of everything for the Korean Confederation of Trade Unions and the 86 generation and passed the rest to the pension special committee. Having taken care of everything, the Democratic Party has no reason to properly engage in additional structural reform."

Han added, "After a difficult agreement reached in 18 years, should the younger generation bear the burden alone and just accept it?" and "Why can't we do properly what hasn't been done for 18 years and 3 months?" He proposed reestablishing the pension reform plan through discussions over the next three months.

On the other hand, Na Kyung-won, a People Power Party lawmaker who abstained during the National Pension Act amendment vote, expressed through SNS that this reform should be accepted as a conditional reform. Na said, "This patchwork reform should not be the end," and "The special committee must immediately start discussions on fundamental reform plans." She added, "This reform should be a conditional agreement, and the special committee must achieve sustainable follow-up pension reform within this year that does not shift the burden onto future generations," emphasizing, "A pension system that allows people to prepare for retirement with peace of mind without imposing unbearable burdens on future generations is a sustainable pension reform where everyone wins."