Only one in five recipients of Korea's basic pension, currently about 340,000 won per month, consider the amount adequate, a survey found. Nearly half of recipients said a monthly payment of around 400,000 won would be appropriate.
According to the "2025 Basic Pension Recipient Survey" report released Thursday by the National Pension Research Institute, the institute conducted a survey of 2,000 people aged 65 and older receiving the basic pension from late July to mid-September last year.
The basic pension is paid to the bottom 70 percent by income among seniors aged 65 and older. This year, the maximum basic pension a single senior household can receive is 349,700 won per month.
Only 19.9 percent of respondents considered the monthly level of 342,510 won at the time of the survey to be "adequate." This means only about one in five recipients were satisfied with the current level.
The largest share of respondents cited 400,000 won per month as the appropriate level. Respondents who said 400,000 won per month was suitable accounted for 47.7 percent, nearly half. Those who said 500,000 won per month was appropriate accounted for 20.0 percent, while 12.4 percent chose 450,000 won per month.
The researchers analyzed this, noting that "there is a tendency to perceive the 400,000 to 500,000 won per month range, somewhat higher than the current level, as the appropriate level."
However, apart from the perceived need to raise the basic pension amount, satisfaction with the current payment level was relatively high. When satisfaction with the basic pension amount was surveyed on a 5-point scale, the average score was 3.83.
In detail, "satisfied" was the most common response at 63.2 percent. "Average" accounted for 19.3 percent, and "very satisfied" accounted for 12.7 percent.
Perceptions of life changes after receiving the basic pension were also generally positive. When asked whether they felt they would have more financial breathing room after receiving the basic pension, "somewhat agree" was the most common response at 62.9 percent. "Strongly agree" accounted for 10.5 percent.
The burden of having to depend on family also appeared to decrease. When asked whether they felt they would become less financially dependent on their children or relatives, 55.0 percent said "somewhat agree" and 11.0 percent said "strongly agree."
The research team explained that "the basic pension goes beyond simple financial support and also plays a role in providing psychological stability to the elderly," adding that "it particularly shows significant meaning in reducing the burden and guilt of being financially dependent on family."
