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Photo = Yonhap news |
[Alpha Biz= Kim Sangjin] Starting this July, the monthly premium for the National Pension will rise by up to 18,000 KRW.
According to News1 on Friday, the Ministry of Health and Welfare and the National Pension Service announced that the upper and lower limits of the National Pension standard income for 2025 were adjusted during the first National Pension Advisory Committee meeting on the 9th.
The standard income is used to calculate both pension premiums and pension benefits, and it is adjusted annually based on the income level of participants. The upper and lower limits of this standard income are also automatically adjusted each year based on the average income change rate (A value) of all National Pension subscribers over the past three years.
As the average income (A value) of all subscribers increased by 3.3% compared to last year, the upper limit for the 2025 standard income will rise from 6.17 million KRW to 6.37 million KRW, and the lower limit will increase from 390,000 KRW to 400,000 KRW.
For those whose monthly income exceeds 6.37 million KRW, the current insurance premium rate of 9% will result in a premium of 573,300 KRW, which is 18,000 KRW higher than the previous year’s 555,300 KRW. For employees, the company and the employee each bear half of the insurance premium, so the increase will be 9,000 KRW. This adjustment will apply from July of this year until June of the following year.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
