This year’s national pension receipts will increase by 05

This year’s national pension receipts will increase by 0.5%, reflecting the increase in consumer prices last year. From this month, you will receive an average of 2,690 won more each month.

The Ministry of Health and Welfare announces an administrative notice of the amendment to the public pension revaluation rate and pension amount adjustment, which will increase the amount of the national pension from this month through the resolution of the National Pension Review Committee. The national pension is raising the pension amount by reflecting the inflation rate every year to prevent a decline in the real value of pension receipts and to ensure an appropriate level of benefits.

According to the amendment, the basic pension amount for all 4.43 million annual pensioners will increase by 2,690 won per month on average. Among beneficiaries, the basic pension amount for subscribers over 20 years increases by 4650 won per month on average.

In detail, as of October last year, 550,000 elderly pensioners who have been enrolled for more than 20 years. Their average pension amount will increase by 4,650 won from 93,670 won per month to 935320 won per month from this month. If the beneficiary has a family who is responsible for living, the additional pension amount for dependents will increase. On an annual basis, the pension amount for spouses increases by 1300 won to 260,360 won, and for children and parents, it increases by 870 won to 175330 won.

Recipients who receive the national pension from this year calculate the pension amount through a process of reevaluating (converting) the past income to the present value by reflecting the increase in the average income (A value) of the total subscribers. To preserve the real value of pensions. 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 1997,000 won.

The Ministry of Health and Welfare also announced that all disabled pension recipients will receive a monthly basic salary of 300,000 won starting this month. The Ministry of Health and Welfare has paid 300,000 won per month to the recipients of housing and education benefits and the next higher class in 2019, starting with an increase in the basic benefit of pensioners for the disabled who receive living and medical benefits from 250,000 won per month to 300,000 won per month. This year, the target of basic benefit will be expanded to all disabled pension recipients.

Reporter Kim Ik-hwan [email protected]

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