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Parties Clash Over Direction, Handling of National Pension Reforms

Written: 2024-05-24 13:16:41Updated: 2024-05-24 13:20:55

Parties Clash Over Direction, Handling of National Pension Reforms

Photo : YONHAP News

Rival political parties clashed over the direction and handling of national pension reforms, with only five days left before the end of the current 21st National Assembly.

Ruling People Power Party(PPP) floor leader Choo Kyung-ho on Friday accused the main opposition Democratic Party(DP) of having a political motive, saying the DP is pushing for pension reforms in order to conduct a revote on a bill on a special counsel probe into a Marine death military report.

Choo said his party considers the handling of a sustainable pension reform bill to be a key task for the 22nd Assembly.

The parties are at odds over increasing the income replacement rate from 40 percent to 44 percent, as proposed by the PPP, versus the DP's 45 percent, with insurance premiums set at 13 percent. Amid the disagreement, DP leader Lee Jae-myung said it would not be desirable to delay the reform over a difference of just one percentage point.

Lee called to mobilize all means to reach an agreement, such as holding a meeting between President Yoon Suk Yeol and himself, before handling the reform bill at a plenary session on Tuesday.

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