The average life expectancy of Koreans is 83.6 years.
(as of 2021) It is said that the 90-year-old and 100-year-old era is coming soon.
After I retire, I have to live for decades, but in most cases, it is not easy to maintain my previous standard of living without a fixed income.
Even with the basic pension, the national pension, and the personal pension, it is not enough to cover living expenses, so there are many elderly people looking for jobs, but the jobs themselves are limited, so this is also not easy.
It is a housing pension that was introduced to help elderly people who do not have a job but own a house in their old age.
It is a kind of long-term mortgage loan where you entrust your house as collateral and receive a certain amount of money every month like an annuity.
If one of the couple is over the age of 55, they can join, and if they own a house with a public price of 900 million won or less, they are eligible.
However, the monthly payment is calculated based on the market tax, not the public price, and the market tax is recognized up to the limit of 1.2 billion won, which is the standard for expensive housing under the Income Tax Act.
In 2007, when it was introduced, only 515 people signed up, but recent statistics show that it has steadily maintained about 10,000 new subscriptions every year, and last year, it recorded a record high of 14,580.
Since launch, the number of subscriptions has exceeded 100,000.
The sudden rise in popularity of housing pension last year is closely related to the trend of house prices.
Although it depends on the type of design, the housing pension is usually paid monthly as the amount calculated at the time of subscription, so the prospect of future house price increase is important.
If the house price is likely to rise further, it is disadvantageous to sign up for the pension at the current house price, and on the contrary, if the house price is falling, it is more profitable to sign up as soon as possible.
In fact, in 2021, when house prices rose significantly, the number of cancellations of housing pensions reached an all-time high.
As the house price soared so rapidly, it was better to cancel midway and realize profit or re-register later, even if you pay a fee.
The house price will fall further, it was the exact opposite situation from last year when the number of subscriptions hit the maximum.
Here, it seems that the change in perception of 'home' also plays a part.
There must be a reason why the atmosphere that considers the house to be passed on to my children as in the past, that is, the atmosphere that considers the house as a means to be used for my stable old age rather than as an object of inheritance has increased.
Above all, it seems that the advantage of being able to spend a comfortable old age without worrying about fluctuating house prices, living in one's own house, and raising children's hands seems to have appealed more than anything else.
71-year-old Kim Byeong-bok, who signed up for a housing pension in November of last year, also said, "I had no worries until I died" after signing up for a housing pension.
He said that he couldn't be so relieved at the thought that he sometimes gave pocket money to his grandchildren and was able to live well without worrying about living expenses.
In Mr. Kim's case, he joined the housing pension when the apartment in Siheung, Gyeonggi-do, which he purchased in 2005, more than doubled. I think I made up my mind when I got there.
As a result of the examination, Mr. Kim's apartment was evaluated at a market price of 510 million won, and he received a monthly pension of 1.26 million won.
He seemed satisfied with his other pensions, saying that he was maintaining the same level of income as before his retirement.
Regarding the housing pension, the most frequently asked question by prospective subscribers is, "What will happen to my house if I die while receiving the housing pension?"
(This is a question I received from some of my company colleagues after I actually went to the coverage site. ^^) In conclusion, once the subscriber dies, the house is disposed of and the pension and interest paid so far are calculated and settled.
At this time, even if the total amount of payment is greater than the house price because the house price has fallen since the time of subscription, the difference will not be collected.
If there is any money left, it is said that the remaining amount will be returned to the heirs.
Yesterday (February 1), when I went to the central and southern branches of Korea Housing Finance Corporation in the afternoon, there were quite a few people who came to consult.
There were a lot of calls coming in from each pension counseling office, asking for inquiries or making reservations for counseling.
According to the person in charge of the Housing and Pensions Department at the head office, since the second half of last year, inquiries have been pouring in. In the case of rural areas, it takes about two weeks, and in Seoul and the metropolitan area, it is said that you have to wait for more than a month to visit and consult.
It is said that the number of consultations per day has increased by nearly 50% on average.
The background of the hot fever, as you know, is probably because of the judgment that the external situation is not good and can get worse.
Korea Housing Finance Corporation is also updating the standard for calculating the amount of payment once a year in order to stably pay pensions and manage risks for the rest of the subscriber's life.
When setting the standard, three things are mainly considered. First, the prospect of house price increase, second, interest rate trend, and third, life expectancy.
In the trend of rising interest rates, falling housing prices, and increasing life expectancy, unfortunately, from March, the payment will be reduced by an average of 1.8% compared to previous subscribers.
For example, if a 60-year-old subscriber subscribes to a mortgage with an apartment with a market price of 900 million won as collateral, he can receive 1.924 million won per month as of now, but since March, it has decreased by about 80,000 won, and the pension amount is 1.843 million won. becomes
Since the existing calculation standards are applied only to those who signed up on February 28, I wonder if there are more requests for consultation.
(However, in the case of Seoul and the metropolitan area, there is a lot of delay, so even if you apply now, face-to-face counseling is only possible after a month... It seems likely that the changed standards will be applied.)
Thanks to the popularity of the housing pension, the government also announced that it is pushing to expand the target so that more people can subscribe to the housing pension. it seems to be