Presidential candidates from the People Power Party criticized the pension reform plan on the 11th and promised a re-reform of the National Pension.
The National Pension reform plan agreed upon by the ruling and opposition parties passed the National Assembly plenary session on the 20th of last month. For the first time in 18 years since 2007, the pension reform has been achieved.
The key point is that the insurance premium rate, known as 'the money I pay,' will increase from the current 9% to 13%, and the income replacement rate, which determines 'the money I receive,' will be raised to 43% starting next year. It will change to a system where people pay more and receive more.
Former Minister of Employment and Labor Kim Moon-soo attended the 'Gathering to Condemn Pension Deterioration' organized by the Youth Group for Pension Reform in front of the National Assembly and noted, "Although pension reform has been implemented, it has become a deterioration that imposes an extremely harsh burden on youth," adding that "if it ends like this (without additional reforms such as structural reform), it will pose a serious problem that cannot be accepted."
He emphasized, "We should not become unprincipled adults who impose debts worth trillions on youth just to receive 3% more in income replacement rate," stating that "promising dreams and futures to youth, who have many aspirations and a bright future, should be the first step in politics."
Na Kyung-won, who declares her candidacy for the presidency on this day, stated, "The current reform plan merely delays the depletion of the fund by 9 years; ultimately, it is a structure where you pay pensions that are taken by the older generation."
Na added, "I have argued for a long time that we should create separate new and old pension systems to ensure that the pension you pay is guaranteed to you." She emphasized, "I will align with you to ensure that pension reforms that resonate with youth are properly discussed in the National Assembly Pension Reform Special Committee. I will protect your wallets."
Representative Yoon Sang-hyun criticized, "The pension reform plan is a plan for deterioration and conflict. It is an unfair compromise that sacrifices future generations and youth generations."
He continued, "We must stop this. If we do not stop now, it will become a self-destructive move that robs hope from youth," adding, "Ultimately, it must be a reform that involves youth. It should include a structural reform plan that creates an automatic adjustment mechanism and mandates retirement pension participation."
More than 20 attendees, including Korean history lecturer Jeon Han-gil and co-representative of the Youth Group for Pension Reform Son Yeong-gwang, were present at the gathering.