Real Reality
Joined: 10 Jan 2003
Location: Seoul
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 Posted: Tue May 25, 2004 5:47 am Post subject: Pension: Increasing Burden, Declining Benefits |
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Pension Contribution to Rise Sharply
People Worry About Increasing Burdens, Declining Benefits
Individuals will have to shoulder the growing burden for payment of the national pension plan while pension benefits are to decline, as the government on Tuesday approved long-term measures to collect more contributions and cut pension payments... pension benefits will be lowered to 55 percent of a contributor's average wage from the current 60 percent starting from 2005, and drop further to 50 percent from 2008.
http://times.hankooki.com/lpage/nation/200405/kt2004052518013510510.htm |
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