The Debate over National Pension Contribution Rate Increases at the Third Financial Estimation Committee in 2013

Moon Hyung-pyo, the Minister of Health and Welfare-designate, proposed that "the National Pension contribution rate should be raised to 13% (from the current 9%)," bringing the question of contribution rate increases to the forefront of public debate. The proposal has generated sharply divided opinion: one side argues that "increases are necessary to prevent depletion of the pension fund and to restore equity between the current generation and future generations," while the opposing view holds that "simply expanding the scale of the fund is unlikely to constitute a fundamental remedy." Both perspectives are examined below. [Source: JoongAng Ilbo] https://www.joongang.co.kr/article/13030110

https://www.joongang.co.kr/article/13030110