On the 3rd, it was shown for the first time that the number of National Pension recipients receiving at least 2 million won per month topped 90,000 last year.
According to the National Pension Service that day, as of December last year, the number of annual pension recipients receiving at least 2 million won a month was 93,350, up 84% from the previous year. Of these, men accounted for 97.9% (91,385) and women 2.1% (1,965). The likelihood of currently receiving at least 2 million won is higher for long-term subscribers who started their careers more than 30 years ago, because women's labor force participation at the time was not high.
Two million won a month is the income benchmark that people in their 50s and older consider necessary for a stable life. According to the 10th supplementary survey of the 2024 Korea Retirement and Income Panel Study by the National Pension Research Institute, the appropriate personal living cost that people in their 50s and older consider is 1,976,000 won per month.
Meanwhile, the National Pension fund's size was provisionally tallied at 1,457.9963 trillion won as of the end of last year. Helped by gains in the domestic stock market, it rose about 17% from a year earlier.