Basic pension recipients short of gov‘t target
Social affairsJul 22, 2017
The number of basic pension recipients who are older than 65 and belong to the bottom 70 percent of income earners totaled 4.72 million as of March this year, government data showed Saturday. The figure represents 66.6 percent of the entire population aged 65 and over, falling short of the government’s payout rate of 70 percent. Of the recipients, 1.62 million people receive both basic and national pension, while the total amount of basic pension payout reached 870.6 billion won (US$778 million)