[The Public = Daniel Park] Experts point out that the national pension issue needs to be resolved as soon as possible. The key to the problem is to reach a national consensus.
Kim Yong-ha, a professor of IT finance and management at Soonchunhyang University, who served as a member of the Social Welfare and Culture Division of the Presidential Takeover Committee, said, "There is a lot of concern that the current generation in their 2030s will not receive a pension. said.
Professor Kim said, "Korea is a super-aged country with a total birth rate of only 0.81 and the proportion of the elderly population reaching 46.4% as of 2070. It is an urgent matter,” he said.
"To solve these problems, we need a broad social consensus," he added.
"In order to raise the income replacement rate from the current 40% to 60%, the national pension premium rate, which is currently 9%, needs to be doubled," said Rep. Yoo Gyeong-jun, from People's Strength. “Insurance premiums need to be raised. At least, sustainable pension reform is needed to maintain the current replacement rate,” he said.
Rep. Yoo also said, "It is a big problem that the vulnerable class falls out due to the large blind spots in insurance. In addition, there is a problem in which civil servant pension and private education pension must be integrated." "If the government is really willing to reform, it must show a blueprint for this." he said.
The National Assembly Budget Office said, "If continuous efforts are not made to improve the system, the sustainability of public pensions will not be guaranteed and the burden on future generations is expected to increase rapidly." It is necessary to discuss for a solution and set a direction for financial improvement,” he pointed out.
Kim Won-sik, a professor of economics at Konkuk University, said, "The committee should be composed of people who can voice in this reform."
Kim Do-heon, a research fellow in the Department of Fiscal and Social Policy Research at the Korea Development Institute (KDI), said that if the Yun Seok-yeol government plays a role in raising the premium rate even by just 1%, it will be a positive signal for pension reform.
Researcher Kim said, “I think the role of the current government will be the starting point for pension reform.
“In a situation where the number of people contributing to the pension is decreasing and the number of recipients is increasing, an increase in the insurance premium will be inevitable as the baby boomer generation is also joining. It is high, so we need to act quickly,” he said.
◆ Expectations for the role of the Public Pension Reform Committee... The four major public pensions must be trimmed together
While experts shared the view that the role of the public pension reform committee is important, there were also voices that the four major public pensions should be reformed together.
Researcher Kim explained, “The national pension premium rate is lower than that of civil servants. If the two pensions are unified, the public servant premium rate will decrease and income will also decrease. In the end, unification of the national pension and civil servant pension could increase the burden on the government, so it should be considered in detail.
He said, "The cost of system conversion is likely to occur in the short term. If new public officials join the National Pension Service, the national pension finances may improve, but the existing civil servant pension will have to be compensated with taxes." "In addition to unification, there are ways to reduce the salary of civil servants' pensions or to revitalize what is lacking in retirement pensions instead," he advised.
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