Pension Contribution Discrepancies: 600,000 Seniors See Cuts in Basic Pension Despite Contributing Faithfully
A report reveals that nearly 600,000 seniors in South Korea have experienced reductions in their basic pension due to receiving National Pension benefits. A report reveals that nearly 600,000 seniors in South Korea have experienced reductions in their basic pension due to receiving National Pension benefits. This report highlights the impact of pension regulations and raises questions about fairness in pension policies. In South Korea, approximately 600,000 seniors aged 65 and older from the lower 70% income bracket had their basic pensions reduced last year due to receiving National Pension benefits. On the 11th, Kim Seon-min, a member of the National Assembly's Health and Welfare Committee from the Justice Party, released data from the Ministry of Health and Welfare on "the status of recipients receiving both basic and National Pension benefits." This report shows that with the rapid aging of the population and the increase in the number of seniors in the lower 70% inc...