As of January this year, the number of National Pension recipients who receive at least 2 million won per month surpassed 110,000 for the first time, data showed on the 3rd.
According to the National Pension Service on this day, as of January this year, the number of people receiving a monthly pension of 2 million won or more was 116,166, up 69% from a year earlier. That is more than 20,000 higher than a month earlier in December last year (93,350).
Of those receiving 2 million won or more per month, 97.8% (113,589) are men and 2.2% (2,577) are women. The likelihood of currently receiving 2 million won or more is higher for long-term subscribers who began work more than 30 years ago, because women's labor force participation at that time was not high.
Two million won per month is a benchmark income for what people in their 50s and older consider a stable life. According to the 10th supplementary survey of the 2024 National Old-age Security Panel Survey by the National Pension Research Institute, the appropriate monthly living cost per person for those in their 50s and older is 1,976,000 won.
Meanwhile, the National Pension fund stood at a provisional 1,540.4298 trillion won as of January. Buoyed by gains in the domestic stock market, it rose 26% from a year earlier.