Business · Economy · 6 hrs ago
Most South Korean civil servants expect an income gap before pensions
A survey found 91.9% of South Korean civil servants expect an income gap between retirement and the start of their pension.
The survey covered 2,657 current and 158 retired civil servants, and was presented at a National Assembly discussion in Seoul.
Retired civil servants who faced a gap reported serious financial strain: about half said their household income fell at least 2 million won short of essential monthly expenses.
The standard retirement age for government officials is 60, while the pension starting age is rising and will reach 65 for people retiring from 2033.
Officials in the survey most preferred extending the retirement age as a way to reduce the gap.
Extending retirement to 65 could cost an estimated 3.76 trillion to 6.03 trillion won a year for general civil servants and teachers, depending on pay arrangements.
Speakers said any changes should consider the work and hours involved, protect younger workers' hiring prospects, and address people who retire before new rules take effect.
A survey found that 91.9% of 2,657 serving South Korean civil servants expect an income gap between retirement and the start of pension payments.
Among retired civil servants who had experienced such a gap, 50.8% said household income had fallen at least 2 million won short of essential monthly living costs.
The findings were presented at a National Assembly discussion on November 10.
Serving civil servants most favored extending the retirement age to address the income gap, but researchers estimated that extending it to 65 could add 3.76 trillion to 6.03 trillion won in annual personnel costs.
- Who
- Serving and retired South Korean civil servants were surveyed. The findings were presented by Chae Jun-ho, a professor at Jeonbuk National University.
- What
- A survey found that most serving civil servants expect an income gap before pension payments begin.
- When
- The findings were presented on November 10, 2026. The survey was conducted from August 13 to September 30.
- Where
- At a National Assembly discussion in South Korea.
- Why
- The 2015 civil service pension reform is gradually raising the age at which pension payments begin, while the general retirement age is 60.
This story does not have two clearly opposing sides.
The survey of 2,657 serving and 158 retired civil servants was conducted.
The findings were presented at a National Assembly discussion on civil service pension income gaps and retirement-age extensions.
- Serving civil servants surveyed
- 2,657
- Expecting an income gap
- 91.9% of serving respondents
- Retired civil servants surveyed
- 158
- Monthly shortfall
- 50.8% of 63 respondents with an income gap reported a shortfall of at least 2 million won in essential household costs.
- Current general civil service retirement age
- 60
- Estimated added annual personnel costs
- 3.76 trillion-6.03 trillion won if general civil servants and teachers’ retirement ages are gradually extended to 65
1 source
What people are saying
If wages are greatly reduced while the retirement age is extended, an income gap may simply be replaced by a state of low income.
Early retirement pensions can fill an immediate income gap, but reductions of up to 25% may apply for life.
Pay standards should be designed according to each job’s duties, responsibilities and working hours.