Former Korean Pension Association President Yoon Seok-myung: "Even the Slightest Increase in the Income Replacement Rate Would Be Deterioration, Not Reform" (February 14, 2025)
- #연금특위
(As of February 2025)
During the 21st National Assembly, the ruling and opposition parties agreed on raising the contribution rate to 13%, but diverged on the income replacement rate: the People Power Party advocated for 43%, while the Democratic Party called for 45%. Accordingly, there was speculation that if parametric reform were to take place this time, it would be negotiated within a range of 43–45% for the income replacement rate. Nevertheless, Yoon Seok-myung, Honorary Research Fellow at the Korea Institute for Health and Social Affairs (KIHASA) and former President of the Korean Pension Association, emphasized that "raising the income replacement rate by even 0.001 percentage points would constitute 'deterioration,' not 'reform,'" and that "what the ruling and opposition parties agreed upon was solely the increase in the contribution rate."
(omitted)
The Pension Future Forum, led by Fellow Yoon, held an emergency press conference at the National Assembly on February 4, and subsequently convened a seminar on February 11 to discuss the desirable direction of pension reform. Fellow Yoon, a pension specialist who places particular emphasis on the sustainability of the system and the need for intergenerational equity, was interviewed on February 12 in Jung-gu, Seoul.
https://weekly.chosun.com/news/articleView.html?idxno=39929
