Slight Increase in Housing Pension from March... Average Rise of 0.42%

Monthly Housing Pension Payments Adjusted
Up to 30,000 KRW Increase Per Month
Applies to New Applicants Starting in March

The monthly payment amount for the Housing Pension will increase by an average of 0.42% starting next month for new applicants.

The Korea Housing Finance Corporation announced on the 5th that it will adjust the monthly payments accordingly. In accordance with relevant laws, the corporation recalculates variables such as housing price increase rates, interest rate trends, and changes in life expectancy each year to adjust the monthly payments.

This year, with an increase in life expectancy and a decrease in interest rates, the monthly payments have been adjusted to increase by an average of 0.42% compared to before. The rate of change varies between -0.32% and 1.58% depending on housing prices and age. For example, for those aged 55 to 65 with housing priced at 1.2 billion KRW or less, the monthly payment will increase by 30,000 KRW.

The adjusted Housing Pension payment amounts will apply to applicants from March onward. Existing subscribers and customers who apply by the 28th of this month will continue to receive the previously calculated amounts.

President Kim Kyunghwan stated, "As of the end of last year, the total number of subscribers exceeded 136,000 due to efforts such as expanding the preferential Housing Pension for low-priced housing owners among the elderly to increase their income," adding, "We plan to continue supporting a secure retirement through efforts to expand the subscriber base."

Meanwhile, the Housing Pension is a system where homeowners aged 55 or older provide their home as collateral and continue living in their own house while receiving monthly pension payments for their retirement living expenses for life.

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