The maximum amount of national pension received monthly is 2.27 million won… Can I get this much too?

The person who received the most national pension last year received 2.269,000 won per month, and the maximum cumulative receipt amounted to a total of 218.87 million won.

On the 16th, the National Pension Service released the ‘2020 National Pension Payment Statistics’, and announced that as of December last year, the highest amount of national pension was 2.27 million won per month, and the oldest recipient was 107 years old.

In the past year, the Corporation provided a total of 5.55 trillion won in national pension payments of 25.65 trillion won. Among them, the average pension amount for recipients of the old-age pension was 541,000 won, and the maximum amount of the old-age pension was 2.269,000 won per month. Recipients who received the largest amount cumulatively received a total of 21.8 million won. The oldest beneficiary is 107 years old and is receiving survivors’ pension due to the death of a child who was a member of the national pension.

According to the National Pension Plan, as the system matures, the number of subscribers for more than 20 years is steadily increasing. Old-age pension recipients who have been enrolled for more than 20 years are 838,000, up 25.2% year-on-year at the end of the year, and the average pension amount is 930,000 won per month. In 2015, it was only 32,2498 people, but this is an increase of about 2.6 times compared to five years ago.

The number of subscribers for more than 30 years is 55,000, and their average pension amount is 1368,000 won per month.

If such long-term national pension recipients receive their pension until their life expectancy, it is expected that they will be able to receive at least KRW 100-200 million more than the premium paid so far. For example, A (age 65) is a beneficiary who paid 24.69 million won in pension insurance for 330 months from 1988 and received 820,000 won per month from February 2017 (age 61).

Since August 2019, the amount of pension received so far has been higher than the premium paid. Assuming that the pension will continue for 23 years until the next age of 84 (male life expectancy published by the National Statistical Office in 2019), the total amount of benefits will be over 226 million won, which is more than 9.1 times the total amount of premiums paid.

The number of recipients of old-age pensions over 1 million won per month is also increasing. As of the end of last year, the number of recipients of over 1 million won per month reached 340,369, an increase of 27.7% from the previous year. Compared to five years ago, this is more than three times higher.

In particular, the number of recipients of over 2 million won per month is increasing rapidly. From 10 in 2018 to 437 in 2020, an increase of 44 times in two years.

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