View of the Ministry of Health and Welfare located at the Government Complex SejongFrom this year, the national pension benefit amount will increase by 0.5%.
The Ministry of Health and Welfare announces an administrative notice of the amendment to the public pension revaluation rate and pension amount adjustment by the 14th, which reflects the inflation rate (0.5%) of the previous year from this month through the resolution of the National Pension Review Committee.
The National Pension Plan raises the pension amount by reflecting the increase in inflation every year to prevent a decline in the real value of the pension amount and ensure an appropriate level of benefits. The revised notice is applied until December.
The basic pension amount for all 4.43 million annual pensioners is increased by 2,690 won on average. The basic pension amount for subscribers over 20 years increases by 4650 won on average.
As of October last year, a total of 550,000 old-age pension recipients who have been enrolled for more than 20 years will increase their average pension from 93,670 won per month to 9353,320 won per month.
If you have dependents, the amount of additional pensions for dependents will increase. On an annual basis, the pension amount for spouses rose 1300 won to 260,060 won, and for children and parents, 870 won rises to 175,330 won.
Recipients who start receiving the national pension from this year preserve the real value of the pension by calculating the pension amount through a process of reevaluating (converting) the past income to the present value by reflecting the increase in the total average income (A value) of the subscribers.
For example, the revaluation rate applied to subscribers whose monthly income was 1 million won in 2000 is 1.997, and in 2021, the pension amount is calculated by converting the income to 1,997,000 won. Reporter