Pension Special Committee Private Advisory Committee Heading Toward Conclusion — Report Expected by July at the Latest (May 20, 2026)

With the Private Advisory Committee of the National Assembly Special Committee on Pension Reform (the advisory committee) set to hold its final session on the 29th of this month before concluding its activities, the report containing the advisory committee's opinions is expected to be released by July at the latest.

According to the advisory committee on the 20th, the Special Committee's advisory committee is scheduled to conclude its activities following its 10th and final session on the 29th of this month.

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However, the advisory committee has failed to reach consensus on any of these topics. At the 9th advisory committee session on the 8th, member Jeong Se-eun even walked out of the meeting room during the proceedings.

The committee was also unable to put forward any particular proposal regarding the Basic Pension, which President Lee Jae-myung has emphasized. President Lee stated that reform was needed on a "heavier at the bottom, lighter at the top" basis — providing concentrated support to elderly people living in poverty while reducing benefits for upper-income recipients. However, advisory committee members were unable to narrow their differences on this matter.

A representative of the advisory committee explained, "There is substantial conflict over the automatic adjustment mechanism, and in the case of the Basic Pension as well, since there are opinions in favor of providing more to the elderly, no consensus was reached."

The advisory committee, having failed to reach consensus on any agenda item, is scheduled to conclude its activities following the meeting on the 29th. The advisory committee plans to compile the discussions held to date into a report to be released as early as July.

A representative of the advisory committee noted, "Given that consensus cannot be reached, it is difficult to coordinate differing views and produce a report as was done with the 21st National Assembly," adding,

"However, since the discussions cannot be drawn out indefinitely, it is anticipated that the report will be compiled by appending summarized minutes from each meeting session at the front, followed by the individual presentation materials."

The representative explained, "If proceedings advance in this manner, there is no reason for the report to take more than a month, and it will be released before July."

As the advisory committee approaches its conclusion, criticism has also been raised regarding the fact that a committee established for the purpose of structural reform is ending without having fulfilled that objective.

The position holds that structural reform — which fundamentally transforms the basic framework and architecture of the multi-tiered pension system — requires extensive deliberation and time, and that concluding hastily is difficult to comprehend.

A representative of the advisory committee argued, "The very reason the 22nd National Assembly's Special Committee advisory committee was established was structural reform, yet we have not even entered the main deliberations," contending, "There is a need to extend the mandate."

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