After February 1, the monthly pension amount that new subscribers aged 69 or older who subscribe to the flat-rate housing pension will receive a little less than now.
On the other hand, for those aged 55 to 68, the monthly payments increase slightly, so those who are contemplating enrolling in a housing pension should consult during this month to decide when to join.
The Korea Housing Finance Corporation announced on the 12th that it will apply the changed monthly payment system from the applicant on the 1st of next month, taking into account the rate of increase in housing prices, the trend of interest rates, and changes in life expectancy.
Existing subscribers who subscribed to the housing pension by the end of this month will receive the original pension amount regardless of this adjustment.
Looking at the changes, if you subscribe to a housing pension with a house worth 500 million won at the age of 60 as collateral, the monthly receipt will be 106,570 won, an increase of 21,920 won (2.1%) from the previous one.
On the other hand, if an 80-year-old subscribes to a housing pension with a house of 500 million won as collateral, the monthly receipt is 2392,000,940 won, which is 53,980 won (2.2%) less than before.
An official from the Korea Housing Finance Corporation said, “The fluctuations in monthly payments vary by age group,” and said, “It is advantageous for those who are 69 years of age or older to hurry to join through consultation in January.”
The housing pension is a system in which one’s house is entrusted as collateral and a monthly state-guaranteed pension. You can continue living in your own home and generate cash flow without paying interest.
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