Pay in longer, get paid out later: one way to prevent pension depletion
The younger the taxpayers are, the more they will pay over time and the longer they will have to wait to receive their retirement pensions. That idea was brought up this week during a National Assembly-driven discussion, as the countrys population is dwindling and aging rapidly, and it is feared that the state-run pension fund will be depleted by the 2050s.
National Pension Service People Power Party National Assembly Driven Joo Ho Young Retirement Pension South Korea
Source: koreatimes.co.kr