Gyeongnam Province Accelerates the Introduction of the 'Gyeongnam Citizens Pension'... Actively Promoting Public Opinion Collection
Gyeongsangnam-do will conduct a public opinion survey from February 18 to 24 for the introduction of the 'Gyeongnam Citizens Pension'. This survey aims to gather information on citizens' intent to enroll, appropriate support levels, and the scope of eligible participants to inform the policy implementation.
Gyeongnam Citizens Pension, Supporting Stable Retirement Preparation
The 'Gyeongnam Citizens Pension' is a system designed to help citizens maintain a stable lifestyle after retirement. This system operates in conjunction with the Individual Retirement Pension (IRP), whereby citizens contribute a certain amount monthly, and Gyeongsangnam-do supports retirement preparation through financial assistance.
The current legal retirement age is 60, but the age for receiving the National Pension is set at 63, meaning workers experience approximately three years of income gap. Furthermore, the retirement age for the National Pension is set to increase to 65 starting in 2033, which is expected to exacerbate the income gap issue.
In this context, a system like the Gyeongnam Citizens Pension can provide significant financial assistance to citizens. Active planning for retirement preparation is essential.
Conducting Citizen Surveys, Participation Available Through Official SNS Channels
The survey will be conducted online from February 18 (Tuesday) to February 24 (Monday). Citizens can participate through Gyeongsangnam-do's official SNS channels, including Facebook, Twitter, KakaoStory, KakaoChannel, and Naver Blog.
Those wishing to participate can access the survey through the link below.
[Survey Participation Link](https://naver.me/GQ1QzG9U)
This survey will investigate critical items for policy establishment, such as intent to enroll, appropriate support levels, and eligibility scope. Based on this information, plans are set to provide practical benefits to citizens. We ask for your extensive participation.
Support System Linked to Individual Retirement Pension (IRP)
The Gyeongnam Citizens Pension operates as a support program using the Individual Retirement Pension (IRP). Under this system, when citizens contribute a specified amount monthly, Gyeongsangnam-do provides a partial support amount to assist with the income gap and retirement preparation.
For example, if a citizen deposits 90,000 won monthly in a regular deposit with a 2% annual compound interest for ten years, they receive a support of 10,000 won per month. Including tax deduction benefits, an interest rate effect of approximately 7.2% can be achieved. If the province supports 20,000 won per month and the individual contributes 80,000 won monthly, an interest rate effect of approximately 9.2% occurs.
This support is expected to greatly assist citizens in their retirement preparation. The Gyeongnam Citizens Pension is an essential system that enhances economic stability and helps prepare for a better future.
Realization of Citizens’ Happiness Era, Strengthening Continuous Welfare Policies
Gyeongsangnam-do plans to strengthen support for citizens' retirement preparation and income gap periods through the introduction of the 'Gyeongnam Citizens Pension'. This initiative is an important policy to realize the core value of 'Opening a Happiness Era for Citizens' in the second half of the 8th term. In the future, various welfare policies to improve citizens' quality of life will continue to be pursued.
A Gyeongsangnam-do official mentioned, "The Gyeongnam Citizens Pension is the first income gap support program implemented nationwide" and stated that, “We plan to provide substantial benefits to citizens through thorough preparation.” They also emphasized that the opinions of the citizens would be actively reflected through the upcoming survey to swiftly finalize the implementation plan.
Such policies are expected to significantly improve the quality of life for citizens and support stable retirements.
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