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Top Office: Pension Reform Should be Pursued in 22nd National Assembly

Written: 2024-05-26 16:20:19Updated: 2024-05-26 16:38:32

Top Office: Pension Reform Should be Pursued in 22nd National Assembly

Photo : YONHAP News

The presidential office said on Sunday that it is appropriate to discuss and pursue the country's pension system in the 22nd National Assembly.

A senior official at the top office told reporters that the nation needs to make a decision on the matter after sufficiently reflecting the opinions of the general public, especially the young generation, rather than having the ruling and opposition parties rush to make a decision.

The official in question said that pension reform requires adjustments to the income replacement rate and the premium rate, as well as structural reforms of the basic pension, government employees’ pension and retirement pension.

The official added that these reforms are believed to have an extensive impact on youth and future generations, so it is important to have a compromise process and reflect the opinions of all citizens before making any decision.

The office said that only three days are left for the current 21st National Assembly with no time to make a great compromise on the matter, adding that it would be appropriate for the 22nd National Assembly to discuss and pursue the reform based on the discussions that the rival parties have had so far.

After several rounds of negotiations, the two main rival parties agreed on a 13 percent premium rate but failed to narrow their differences on the income replacement rate and other issues.

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