The first couple to receive more than 5 million won per month from the National Pension has appeared. What is their secret?

For the first time, a couple receiving a combined total of over 5 million won per month from their National Pension has emerged.

According to the National Pension Service on the 5th, the highest combined amount received by a couple last month was 5,427,630 won per month. This exceeds 60% of the total monthly salary of a working couple, which is 8 million won, and meets the retirement income standards recommended by the International Labour Organization (ILO).

According to the 10th National Retirement Security Panel Survey published by the National Pension Research Institute, the appropriate living expenses needed for a healthy retirement for couples is 2,969,000 won per month. As this couple's pension far exceeds that amount, they are expected to enjoy a stable retirement.

Experts point to three factors that allowed them to receive high National Pensions.

Firstly, it is analyzed that their long-term participation in the National Pension System since its inception in 1988, the application of a high income replacement rate throughout the participation period, and the use of the deferral system to delay pension receipt by five years all contributed to their success.

The couple receiving the highest pension amount resides in Jeju. The husband (69) receives 2,597,670 won per month, while the wife (68) receives 2,829,960 won.

Both have been enrolled in the National Pension since its launch in 1988, with the husband participating for 27 years and 9 months and the wife for 28 years and 8 months. The total contributions made by this couple amount to 174,766,500 won (husband: 85,061,100 won, wife: 89,705,400 won).

In the National Pension System, the amount received varies significantly based on the period of subscription and the amount contributed. In particular, the early National Pension that this couple subscribed to had a higher income replacement rate than it does now.

Initially, the National Pension system provided a high income replacement rate, offering 70% of the average life income based on a 40-year subscription.

However, after two pension reforms in 1998 and 2008, the income replacement rate gradually decreased to about 41.5% currently.

As a result, early subscribers could benefit from relatively high income replacement rates, and eventually, this couple was able to receive their pensions under favorable conditions due to their long-term participation during a period of high replacement rates.

Additionally, the couple actively utilized the pension deferral system to delay their pension receipt as much as possible.

The National Pension System has a policy that increases the pension amount by 7.2% annually (0.6% per month) if the pension receipt period is delayed.

Deferral is possible for up to five years, allowing the pension amount to increase by up to 36%.

The husband was originally eligible to receive a monthly pension of 157,6970 won starting in January 2017, but after deferring for five years, he began receiving it in January 2022, with his first month's pension amount increasing significantly to 2,332,090 won.

The wife was also supposed to receive 180,6260 won per month starting in May 2019, but she opted to start receiving 276,6340 won from May 2024, five years later.

A representative from the National Pension Service stated, "The case of this couple receiving the highest amount illustrates the positive aspects of the National Pension System, particularly the importance of long-term participation and the adjustment of pension receipt timing. We will continue to strive to ensure that citizens can enjoy a stable retirement through the National Pension."

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