Ruling Party "Rising Income Replacement Rate Clashes Pension Sustainability"

The People's Power Pension Reform Special Committee held a debate with young people at the National Assembly to discuss pension reform measures.

Floor leader Choo Kyung-ho attended the debate and said young people seem to have doubts about whether the current pension structure will be a security device for their retirement and distrust will grow.

He then pointed out that while the government recently proposed sustainable measures such as adjusting the replacement rate and premium rate as an alternative, some politicians tried to be lenient by only increasing the replacement rate, which conflicts with sustainability.

Song Eon-seok, chairman of the National Assembly's Strategy and Finance Committee, also attended and stressed that structural reform is essential rather than simple parameter reform, saying that there is no pension in our future unless we fundamentally take care of it.