"Steady 1 Million Won a Month"... Number of National Pension Recipients Receiving Over 1 Million Won Monthly Surpasses 1.1 Million

The number of people receiving more than 1 million won per month from the National Pension Service

has surpassed 1.1 million.

According to statistics released by the National Pension Service on the 19th, as of January this year,

the number of people receiving more than 1 million won per month from the National Pension Service stands at 1,104,231.

In January last year, the figure was 924,278.

As the number of people with longer subscription periods to the National Pension Service has increased,

the number of recipients receiving more than 1 million won has also grown.

By monthly amount, the largest group is those receiving between 1 million won and less than 1.3 million won per month,

with 466,406 people.

Next, 281,051 people receive between 1.3 million won and less than 1.6 million won,

and 240,608 people receive between 1.6 million won and less than 2 million won.

The number of people receiving more than 2 million won is also counted at 116,166.

There is a significant difference by gender.

Among those receiving more than 1 million won per month, men make up 1,030,259,

while women account for 73,972.

This is attributed to the fact that more men participated in economic activities in the past,

and that men generally had longer subscription periods to the National Pension Service.

By type of pension, the majority are recipients of the old-age pension.

Among those receiving more than 1 million won per month, 1,085,769 people receive the old-age pension.

The old-age pension is the main type of National Pension paid to subscribers when they reach a certain age

to ensure income security in retirement.

Disability pension recipients number 3,073,

while survivor pension recipients stand at 15,389.

The disability pension is paid when a disability occurs due to illness or accident,

while the survivor pension is paid to the family left behind after a subscriber passes away.

The highest monthly benefit received by an old-age pension recipient was 3,175,300 won.

Excluding recipients of divided and special old-age pensions,

the average monthly benefit for general old-age pension recipients was 700,427 won.

For the disability pension, the maximum was 2,274,790 won, while the average monthly benefit was 552,291 won.

For the survivor pension, the maximum was 1,564,590 won, with an average monthly benefit of 389,134 won.

As of the end of January this year, the total number of National Pension Service subscribers was 21,641,066.

Among these, there were 14,598,051 workplace-based subscribers, the largest group,

while there were 6,238,350 individually insured subscribers.

There were 342,530 voluntary subscribers and 462,135 voluntary continued subscribers.

By age group, those aged 50 and over but under 60 were the largest group, numbering 6,707,446.

This was followed by 5,764,017 subscribers aged 40 and over but under 50, 5,301,809 subscribers aged 30 and over but under 40,

3,405,659 subscribers under 30, and 462,135 subscribers aged 60 and over.

The National Pension Service is an income security system that collects insurance premiums while there is income,

and provides monthly pension payments in the event of old age, disability, or death.

All Korean residents aged 18 and over but under 60 are eligible to join.

The minimum subscription period is 10 years, and once the eligible age is reached, subscribers can receive the old-age pension.

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