“I can’t buy it now or not”… 2030, I broke my retirement pension and bought a house

In the Moon Jae-in administration, with the nationwide increase in house prices, especially in the metropolitan area, last year’s 20s and 30s were all found to be related to housing. The number of young people who hurriedly buy a house or make a jeon tax even after breaking the retirement pension has increased.

According to the ‘2019 retirement pension statistics’ data released by the National Statistical Office on the 24th, the number of intermediate withdrawals of retirement pensions last year was 73,000, an increase of 1.8% (about 1,000) from a year ago. The withdrawal amount was also 2.8 trillion won, up 7.6% from a year ago. The current retirement pension-related laws restrict the grounds for withdrawal in the middle of housing purchase, jeon tax, deposit, medical treatment, bankruptcy declaration, individual rehabilitation, university tuition, wedding expenses, and funeral expenses. As it is one of the safety boards that workers send old age, withdrawals are allowed only when there is a specific reason.

Looking at the reasons for withdrawal in the middle, long-term care was the highest at 37.7% per person and 51.8% per amount. In particular, compared to the previous year, long-term care (10.2%) and residential leases (7.0%) increased, while housing purchases (-12.0%) decreased. Overall, it is said that as the income of the middle-aged and the elderly decreases, even basic welfare such as long-term care is difficult to solve.

In terms of age, the reasons for housing arrangements ranked first, centering on the younger generation. The number one reason for mid-term withdrawal in their 20s was housing rental. Those in their thirties had the most withdrawal for the purpose of buying a home. Those in their twenties paid for jeonse or security deposits, and those in their thirties pulled out their severance pay in the so-called ‘spiritual attraction’ process of raising funds to the maximum limit to raise money for home purchases.

Last year, the amount of retirement pension accumulated was 21.9 trillion won. This is an increase of 16.3% from a year ago. Defined benefit type was the most at 62.6%, followed by defined contribution type (25.4%), personal retirement pension (11.6%), and IRP special case (0.4%). The total number of workplaces introduced was 397,000, an increase of 4.8% from a year ago. 27.5% of the 1.43,000 sites to be introduced have adopted the retirement pension system.

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