State data showed that the number of people receiving more than two million won per month in the national pension after retirement exceeded five-thousand last year and nearly quadrupled in one year.

According to statistics by the National Pension Service on Sunday, five-thousand-410 people were receiving more than two million in monthly national pensions as of the end of last year.

It marks a nearly four-fold increase from one-thousand-355 people from a year earlier.

The nation saw the first pension subscriber receiving more than two million won in January 2018, 30 years after the nation introduced the state pension system. The number is steadily rising to ten in late 2018, 98 in 2019 and 437 in 2020.

The rise is attributed to steady rises in the number of long-term subscribers and the amount of pension payments in line with the inflation rate.

Of those receiving over two million won, five-thousand-332 people or 98-point-five percent were male subscribers, while just 78 were female as of the end of last year.