• The national pension reform plan announced by the government is being criticized for causing generational conflict in that it applies different insurance premium rates to each generation.
• It is unclear whether people in their 20s and 30s will be able to receive pensions, and there are many voices expressing distrust in the government’s plan to introduce an automatic adjustment system that could reduce the pension amount depending on the situation.
• The government is also considering extending the upper age limit for compulsory subscription from 60 to 65 to increase pension stability. There are positive reactions to this as it increases the average life expectancy, but there are concerns that people may be able to work until age 64.
• The government proposed a new insurance premium rate of 13% from the previous 9% and a new income replacement rate of 42%. This is because the finances of the National Pension Fund are bound to worsen as the elderly population increases and the birth rate decreases.
https://n.news.naver.com/mnews/article/022/0003969310