7 million recipients after 36 years of implementation of the National Pension Service

The National Pension Service said the number of national pensioners exceeded 7 million in 36 years after the system was implemented.

The 7 millionth recipient of the national pension, 63-year-old Park, started as a business subscriber in April 1988 and paid 43.95 million won in insurance premiums for 298 months, including return and additional insurance premiums.

Park will receive 900,000 won per month, an increase of 47,000 won per month, from this month as a maternity credit benefit given to parents of multiple children.

The National Pension Service pays 3.6 trillion won in pensions every month, with 833,000 recipients of 1 million won or more per month and 44,000 recipients of 2 million won or more per month.