Gyeonggi-do Launches Program to Encourage First-Time Youth National Pension Enrollment

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi-do is launching the "First-time Youth National Pension Enrollment Promotion Project" to guide young people to enroll early in the National Pension.

Previously, Gyeonggi-do Governor Lee Jae-myung attempted to support early National Pension enrollment for youth by having the province pay the first pension contribution, but the project was abandoned due to legal and institutional shortcomings.

On the 31st, Gyeonggi-do announced that in the first year of the project, it will recruit approximately 227,000 participants aged 19 to 34 residing in Gyeonggi-do on a first-come, first-served basis until the end of this year for the First-time Youth National Pension Enrollment Promotion Project.

Participants who complete the life planning and educational content related to early National Pension enrollment on the project’s official website, "Smart Life Planning," will receive a mobile book and cultural gift certificate worth 30,000 KRW as an educational subsidy through the Integrated Job Application System.

The gift certificate distribution may end early if the budget is exhausted. The status of participant recruitment will be updated in real-time on the Integrated Job Application System.

Currently, all citizens aged 18 and older can enroll in the National Pension regardless of employment or income. Early enrollment in the National Pension has the advantage of increasing the total contribution period, resulting in higher pension benefits later. The province explained that many young people are unaware of this fact, which led to the launch of the project.

The educational content was developed based on feedback from local youth, focusing on safe asset formation through savings, improving awareness of the National Pension, and providing investment advice.

Through this project, the province expects to offer young people an opportunity to rethink the National Pension while preparing for their future with relatively small amounts of money.

Jung Hyun-ah, head of the Youth Welfare Policy Division of Gyeonggi-do, emphasized, "We will improve young people's awareness of the National Pension, who generally have little interest in retirement preparation, and support their desirable future planning through participation in life planning programs and other projects."

This content was produced with the assistance of AI translation services.