The National Pension Service of South Korea has submitted a proposal to the National Assembly’s Health and Welfare Committee regarding the expansion of the national pension system. The initiative aims to include married homemakers and young adults currently lacking a steady income by classifying them as local subscribers. Under this new framework, these individuals would be granted contribution-exempt status, allowing them to participate in the pension scheme despite their lack of earnings. Current regulations generally mandate enrollment for citizens aged 18 to 59, but those without personal income have faced barriers to participation. This policy shift is intended to broaden the social safety net by providing pension access to groups previously excluded from the mandatory contribution requirements.
Source : The Korea Herald
Photo : The Korea Herald
