Nearly 700,000 people receive more than 1 million won per month in national pension

As of the end of December 2023, 687,183 people… There are 17,810 recipients of more than 2 million won per month.

The longer the subscription period, the larger the pension amount.

(Seoul = Yonhap News) Reporter Seo Han-ki = As the national pension system introduced in 1988 is gradually maturing, the number of beneficiaries receiving pension amounts of more than 1 million won every month continues to increase.

The number of people receiving national pension of more than 1 million won per month has approached 700,000.

According to the National Pension Service’s ‘National Pension Publication Statistics’ on the 26th, as of the end of December 2023, there were 687,183 national pension recipients receiving more than 1 million won per month. There were 655,826 men and 31,357 women.

By type of benefit, most people were receiving old-age pension (a general form of national pension received upon reaching pension age) at 680,646, followed by survivors’ pension at 4,560 people and disability pension at 1,977 people.

Among these, in the case of old-age pension, the number of recipients of more than 1 million won per month first appeared in 2007, then increased to 129,502 in 2016, 201,592 in 2018, 340,369 in 2020, 430,531 in 2021, and 2022. It increased to 567,149 people per year.

More than 70% of recipients of the old-age pension worth more than 1 million won were people who had been enrolled in the national pension for more than 20 years.

As of December last year, among those receiving more than 1 million won per month, 334,792 received between 1 million and 1.3 million won, 195,303 received between 1.3 and 1.6 million won, and 139,278 received between 1.6 and 2 million won. It was.

The number of people receiving more than 2 million won per month reached 17,810.

The first recipient of the national pension of 2 million won per month was born in January 2018, 30 years after the implementation of the national pension system in 1988.

Afterwards, the number increased to 10 in 2018, 98 in 2019, 437 in 2020, and 1,355 in 2021, and jumped to 5,410 in 2022, increasing again by about 3.3 times in one year.

Consistently receiving a national pension of 2 million won or more per month can be of great help in living your life after retirement.

This is because 2 million won per month exceeds the personal standard for optimal living expenses for retirement (1,773,000 won per month as of 2021) considered by middle-aged and elderly people in their 50s or older.

The highest recipient of the national pension was receiving 2,664,660 won per month.

The average amount received was 620,300 won per month for old-age pension, 504,607 won per month for disability pension, and 342,283 won per month for survivor pension.

There are a total of 5,457,689 recipients of the old-age pension. In addition to the old-age pension, recipients of the disability pension, which is received when the subscriber becomes disabled, and the bereaved family pension, which is paid to the bereaved family when the beneficiary dies, are 69,157 and 986,694, respectively. It was a name.

In Korea’s representative public pension system, the National Pension, subscribers must pay premiums for at least 10 years (120 months) to receive old-age pension when they reach the pensionable age.

The pension amount increases the longer the subscription period, the more insurance premiums paid, and the higher the income replacement rate.

The fact that the longer you subscribe to the national pension, the more you will receive in retirement, is also proven by statistical data.

If you look at the National Pension Service’s data on ‘Average subscription period of new recipients of old-age pension by monthly benefit amount’, you can see that the subscription period has a significant impact on determining the amount of old-age pension.

As a result of a detailed analysis of how long the average subscription period is for new beneficiaries by the amount they receive each month, the average subscription period by monthly benefit amount as of 2022 is ▲ 121 months for 100,000 to less than 200,000 won ▲ 127 months for 200,000 to less than 300,000 won ▲ 300,000 won These were: 157 months for less than 400,000 won, 195 months for 400,000 to less than 500,000 won, 230 months for 500,000 to less than 600,000 won, and 254 months for 600,000 to less than 700,000 won.

Then, it lengthened to ▲ 269 months for less than 700,000 to 800,000 won ▲ 285 months for 800,000 to less than 900,000 won ▲ 300 months for 900,000 to less than 1 million won ▲ 341 months for 1 million to 1.5 million won ▲ 385 months for 1.5 million to less than 2 million won.

However, the average subscription period for new recipients receiving more than 2 million won per month is slightly shorter than that for new recipients receiving less than 1.5 million to less than 2 million won per month, such as 373 months for those receiving between 2 and 2.5 million won, and 356 months for receiving between 2.5 and 3 million won.

However, because he was a high-income earner, the premiums he paid during the subscription period were much higher, so his monthly benefit amount was higher.

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2024/04/26 06:01 Sent