Fewer Contributors, More Recipients... Average National Pension Payout Reaches 680,000 Won

Number of Contributors Drops by 260,000 in Just Six Months

While the number of contributors paying into the National Pension Service is declining, the number of recipients drawing benefits continues to rise. This trend indicates that demographic changes caused by low birth rates and an aging population are directly impacting the National Pension Service.

Yonhap News Agency reported, citing official statistics released by the National Pension Service on October 3, that as of the end of June this year, the number of National Pension contributors stood at 21,720,777.

This figure represents a decrease of 263,226 from the end of last year, when there were 21,984,003 contributors. The number of contributors peaked at 22,497,819 at the end of 2022 and has been declining for two consecutive years.

By type of contributor, the number of workplace contributors fell by 16,344, from 14,675,745 at the end of last year to 14,659,401. The number of regional contributors also declined by 230,081, from 6,513,108 to 6,283,027. The number of voluntary contributors and voluntary continued contributors decreased by 2,388 and 14,413, respectively.

Although the overall number of contributors is decreasing, voluntary contributions among young people in their 20s and younger are on the rise. As of the end of June, there were 25,449 voluntary contributors under the age of 30, an increase of 687 from the end of last year.

Yonhap News Agency

According to data received by Assemblywoman Kim Sunmin of the National Assembly Health and Welfare Committee from the National Pension Service, during the same period, the number of 18-year-old contributors increased by 17, 19-year-olds by 388, and those aged 20 to 29 by 282. Compared to 2020, the number of voluntary contributors under 30 has surged by as much as 64%.

Assemblywoman Kim analyzed, "The increase in youth participation even after the pension reform in March indicates that trust in the security of the National Pension Service has grown."

In contrast, the number of recipients actually drawing pension benefits continues to rise. As of the end of June, the number of National Pension recipients reached 7,477,660, an increase of 105,621 from the end of last year. The average monthly benefit for old-age pension recipients was 679,331 won, with the highest benefit recorded at 3,185,040 won.

Meanwhile, according to the '2025 KB Golden Life Report' published by KB Financial Group in September, Koreans consider the appropriate monthly living expenses for retirement to be 3.5 million won, with minimum living expenses at 2.48 million won. However, the actual amount they expect to be able to secure is only 2.3 million won per month, which is just 65.7% of the appropriate living expenses.

This report was based on a survey conducted from May 30 to June 18, targeting 3,000 men and women aged 25 to 74 living in major cities across the country, including Seoul, and included in-depth focus group interviews with a separate panel.