National Pension Insurance Premium Increase, Up to 24,300 Won per Month... Adjustment of Standard Monthly Income

 

 

 

Starting this month, the upper limit of the standard monthly income for the National Pension has been adjusted to 6.17 million won and the lower limit to 390,000 won, resulting in an increase of up to 24,300 won in insurance premiums for some subscribers.

The Ministry of Health and Welfare and the National Pension Service announced on the 8th that they have adjusted the standard monthly income by reflecting the average income fluctuation rate of 4.5% for all subscribers over the past three years.

This measure reflects the improvement in the income levels of all subscribers to the National Pension and aims to ensure an adequate level of pension benefits.

With this adjustment, the insurance premium for subscribers with a monthly income of 6.17 million won or more will increase by 24,300 won per month, and the self-contribution for workplace subscribers will increase by 12,150 won per month.

The insurance premium for subscribers with a monthly income of less than 390,000 won will also increase by up to 1,800 won.

However, there will be no change in the insurance premium for subscribers whose income falls between the previous upper limit and the new lower limit.

Although the increase in insurance premiums may be a burden on subscribers, it will enhance the average lifetime monthly income of individual subscribers, resulting in higher pension benefits in the future.

The National Pension Service stated, "The adjustment of the standard monthly income is an unavoidable measure to ensure the sustainability of the National Pension system and to strengthen the retirement income security of subscribers," and requested "the understanding and cooperation of the subscribers."

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National Pension Insurance Premium Increase, Up to 24,300 Won per Month... Adjustment of Standard Monthly Income