South Korea: Poverty rate for the elderly is the highest in the OECD:
-Since “born in 1990”, no pension payment-
Old man’s poverty problem:
In South Korea, the aging of the population is advancing, and the poverty of the elderly is becoming a serious social problem.
At such times, it is more urgent to secure income in old age.
Pension payments born in 1990:
However, if the current system of the national pension continues as it is, there is a warning that the pension will not be received from the 1990s. It was
Korean media
Kukmin Ilbo
Korea Economic Research Institute:
Analysis of data from the Organization for Economic Co-operation and Development (OECD) and the Statistics Korea on the 13th.
He raised the actual situation of aging and the necessity of reforming the national pension.
Korea’s poverty rate for the elderly:
The poverty rate for the elderly as of 2020 is
Of the 37 OECD countries surveyed
South Korea was the top with 40.4%.
This is three times the G5 average of 14.4%.
The bigger problem is the rapid aging of the population.
Korean public pension system:
It is operated in a form of “pay less and receive earlier” than G5, and pension depletion is accelerating.
The basic pension subscription period is also 20 years, which is more than 10 years shorter than the G5 average (31.6 years).
National pension financial balance:
Fiscal balance obtained by subtracting expenditure from national pension income.
The fiscal balance will turn into a deficit in 2039, and the reserve will bottom out in 2055.
Born in 1990, he will be eligible for the national pension in 2055.
However, the national pension will be exhausted and you will not be able to receive any money.
= Korea-Korea Newspaper / Society / Culture
https://www.wowkorea.jp/news/Korea/2022/0115/10331293.html
Korea’s poverty rate for the elderly is the highest in the OECD
-If nothing is done, the pension will be exhausted-
South Korea’s population over 65:
As of 2022, South Korea’s population aged 65 and over is 17.3%, which is lower than the G5.
20.3% in 2025, overtaking the United States (18.9%)
In 2045, it will be 37.0%, surpassing Japan (36.8%).
Korean internet users:
“Pensions cannot be received by people in their 20s and 30s”
“Korea is coming to an end with President Moon”
“It’s the result of choosing the Democratic Party.”
“What was President Moon doing for five years?”
There are many criticisms of the Moon administration.
= Korean Internet “Because of the Moon Administration”