The emergency living expense loan project, 'Silver Loan,' for pension recipients will be resumed. This is in response to the increase in the budget that was prematurely depleted due to a surge in applications.
The Ministry of Health and Welfare held a National Pension Fund Management Committee meeting on the 1st and deliberated and approved the '2025 Fund Management Plan Revision' to increase the Silver Loan project budget from the previous 38 billion won to 63 billion won.
This year, the Silver Loan project was prematurely depleted due to a surge in applicants influenced by interest rate reductions and the expansion of support recipients. With this revision to the fund management plan, applications will be resumed starting from the second week of August.
The Silver Loan project provides low-interest emergency living assistance loans to pension recipients over 60 years old, using the National Pension as collateral for ▲jeonse or monthly rental deposits ▲medical expenses ▲spousal funeral expenses ▲disaster recovery expenses. Since its implementation in 2012, it has lent a total of 566.9 billion won to 105,404 people as of June.
Minister Jeong Eun-kyeong stated, "With the funds established this time, emergency financial support for the elderly will be resumed," adding, "We will continue to work hard to contribute to the stabilization of pension recipients' livelihoods in the future."