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Basic Pension for Senior Citizens to be Provided Starting Today

노인 기초연금 오늘 첫 지급, 광주전남 41만여명

Basic Pension for Senior Citizens to be Provided Starting Today

 

Senior citizens nationwide will receive their first basic pension starting today and in Gwangju, more than 102,000 senior citizens will benefit from the new pension program along with 309,000 senior citizens in Jeollanamdo.

The revised basic pension program is expected to benefit senior citizens older than 65 whose income is in the poorest 70 percent through a monthly allowance ranging from 100,000 won to 200,000 won based on their income.

The program was in dispute as nationwide municipalities are predicted to suffer problems securing sufficient funds to finance the program and also because the poorest seniors who are recipients of the basic living allowance are expected to see their income automatically reduced with the new program.

The city of Gwangju has reportedly prepared 18.5 billion won for the basic pension for senior citizens this month while Jeollanamdo has allotted 55.6 billion won, but municipalities with low financial independence rates are predicted to experience difficulties in securing adequate funds for the revised pension program for the year.

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