For those in their 50s or older who are about to retire or are already in retirement, assuming an old age without special diseases, an individual needs 1645,000 won per month and a couple 2,678,000 won as an appropriate living expense for old age.



As the 'minimum cost of living for old age', which means the minimum cost of living, I think that an individual should have 1,166,000 won and a couple 1,947,000 won.



These are the results from the 8th survey of the 'National Old Age Security Panel' conducted by the National Pension Research Institute last year on 4,531 households (7,343 individuals) with household members over the age of 50 across the country.



If so, how much money can the National Pension fund cover? According to the National Pension Service today (16th), as of July 2021, the average monthly old-age pension amount per person (calculated excluding special old-age and divided pension) was 551,892 won.



The old-age pension is a general form of national pension that is received in old age after 10 years of subscription.



The special old-age pension is a pension that is paid even if you join for only 5 years before 1999, while the installment pension is a pension that you share with your spouse after divorce.



The average amount of old-age pension received is 3,543 won more than the minimum cost of living for a single household this year (548,349 won) under the National Basic Livelihood Security Act.



Fortunately, the minimum cost of living was barely exceeded, and the mockery of 'pocket money annuity' escaped.



However, if there is no other income, it is true that the current average old-age pension is so small that it is difficult to maintain even the minimum living standards for those in their 50s or older.



As such, although the average amount of the national pension is small, the situation is much better for beneficiaries with a long subscription period.



If you join for 10 years at a young age, you can receive the national pension in old age.



The average pension for subscribers over 20 years is 943,197 won per month (as of July 2021), approaching 1 million won.



It is still far below the appropriate level of living expenses in retirement for an individual, but at least the minimum cost of living in old age can be met to a large extent.



In particular, among old-age pension recipients who have been insured for 20 years or more, the number of pensioners with more than 2 million won, which exceeds the individual's appropriate cost of living in retirement, is rapidly increasing.



More than 30 years have passed since the National Pension System was implemented in 1988, and it is gradually establishing itself as a device for guaranteeing old-age income.



As of July 2021, there are 960 recipients of national pensions of 2 million won or more per month.



There were 944 males and 16 females, overwhelmingly male.



The highest recipient receives 2,367,710 won per month.



It was in January 2018, 30 years after the introduction of the pension system, that the number of beneficiaries of 2 million won or more per month was reached.



After that, it increased to 10 people in December 2018, 98 people in December 2019, and 437 people in December 2020.



Although the number of beneficiaries of more than 2 million won per month is increasing, the amount of the national pension is much lower compared to other occupational pensions such as civil servants pension, private education pension, and military pension.



How do I increase the amount of the National Pension Scheme?

Pension experts advise that if you want to build a foundation for your old-age income with the National Pension, you should either pay more premiums by raising the premium rate or extend the subscription period.



This is because the amount of National Pension receipt increases as the premium you pay increases and the length of your subscription period increases.



However, the current national pension premium rate is stuck at the '10% glass ceiling'.



The pension premium rate started at 3% in 1988, the first year the system was implemented, and rose by 3% points every 5 years.



At the end of 2018, the government introduced the National Pension Reorganization Plan based on the 4th fiscal calculation of the National Pension: ① Maintain the current ② Maintain the current but raise the basic pension to 400,000 won ③ Raise the replacement rate by 45%, increase the premium rate by 12% ④ Income replacement rate by 50% We proposed four measures: an increase in insurance premiums and a 13% increase in insurance premiums.



The insurance premium rate was either tied up or raised, but only increased to a maximum of 13%.