Politics · South Korea · 4 hrs ago
South Korea’s top 1% of basic pension recipients had average assets of 340m won
South Korea’s top 1% of basic pension recipients averaged 340m won in general assets at the end of 2025, according to government data.
Their average monthly earnings from work were about 2.2m won before deductions.
The figures come amid debate over whether the pension’s rules allow people with high incomes or valuable property to receive benefits.
For 2026, a single person can qualify with recognized monthly income of up to 2.47m won, but the program deducts more from earnings and assets than South Korea’s basic livelihood support system.
As a result, a person earning 3m won a month has about 1.28m won counted as income under the pension’s formula.
The data also showed that actual top-tier recipients had fewer assets than an example involving a 1.7bn-won apartment that had fueled public debate.
The government plans to keep the eligibility benchmark at the bottom 70% of older people while varying payments according to income.
The top 1% of South Korea’s basic pension recipients had average general assets of 340 million won at the end of 2025.
Their average monthly earned income before deductions was 2.198 million won.
The figures were released amid debate over whether the pension’s broad deductions allow wealthier older people to qualify.
The 2026 monthly eligibility threshold for a single-person household is 2.47 million won.
The government plans to keep the eligibility standard for the bottom 70% of older people while varying payments according to income.
- Who
- The top 1% of basic pension recipients by recognized income.
- What
- Their average general assets were 340 million won at the end of 2025.
- When
- The figures are based on data at the end of 2025 and were reported in October 2026.
- Where
- South Korea.
- Why
- The data were released amid debate over whether broad deductions let high-income or asset-rich older people receive the pension.
Critics of the pension’s eligibility rules
Nam In-soon’s office
Eligibility rules
Critics of the pension’s eligibility rules
Critics say broad deductions allow high-income and asset-rich older people to receive benefits.
Nam In-soon’s office
The office said the actual figures for the top 1% differ from extreme hypothetical cases involving owners of 1.7 billion-won apartments.
The top 1% of basic pension recipients had average general assets of 340 million won.
The monthly selection threshold for a single-person household was set at 2.47 million won.
- Average general assets
- 340 million won
- Average monthly earned income before deductions
- 2.198 million won
- Recipients covered by asset calculation
- Top 1% by recognized income
- 2026 single-person monthly eligibility threshold
- 2.47 million won
- Single-person median household income in 2026
- 2.56 million won
1 source
What people are saying
The reality of actual top 1% basic pension recipients confirmed by this official Ministry of Health and Welfare statistic differs from extreme hypothetical cases such as older people who own 1.7 billion-won apartments
Claims that wealthy older people receive the basic pension appear somewhat exaggerated