Housing Pension, 10,000 New Subscribers Last Year... Total Subscribers 71,000
[Asia Economy Reporter Kwon Haeyoung] The number of new subscribers to the Housing Pension exceeded 10,000 last year.
The Korea Housing Finance Corporation announced on the 6th that the number of new Housing Pension subscribers last year was 10,982, bringing the total number of Housing Pension subscribers to 71,034.
As of the end of last year, the average age of Housing Pension subscribers was 72 years old, the average housing price was 297 million KRW, and the average monthly receipt amount was 1.01 million KRW.
As a follow-up measure to the Housing Pension revitalization plan (Economic Vitality Meeting) to support asset formation for retirement preparation, since December last year, the Korea Housing Finance Corporation has been paying up to 20% more monthly receipt amounts to new applicants subscribing to the preferential Housing Pension than the general Housing Pension. The preferential Housing Pension is a product that pays a higher monthly receipt amount compared to the general Housing Pension to one-house owners whose housing price is less than 150 million KRW and who are basic pension recipients.
The amendment process of the Enforcement Decree of the Korea Housing Corporation Act to lower the Housing Pension subscription age from 60 years or older based on the elder spouse to 55 years or older is also underway, aiming to be completed in the first quarter of this year.
A Korea Housing Finance Corporation official said, "The Korea Housing Finance Corporation will continue to promote institutional improvements so that the Housing Pension can play a solid role as a reliable protector of old age by increasing income and ensuring stable retirement life for the elderly."
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Meanwhile, on the 3rd, the Korea Housing Finance Corporation adjusted the monthly payment of the Housing Pension for new applicants. For general housing, the monthly receipt amount for Housing Pension applicants increased by up to 4.7% (average 1.5%) compared to before.
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