Jun Hyo-sung takes TV brain test

[Graphic News] Tax burden on basic pension

kh close

 

Published : 2014-05-06 21:03
Updated : 2014-05-06 22:04

Korea is expected to face an increasing annual tax burden of some 2 million won per capita by 2040 and about 5 million by 2060 as the country is set to increase its monthly basic pension for those over 65.

The National Assembly passed a bill allowing the poorest 70 percent of senior citizens to receive a monthly pension of up to 200,000 won beginning in July. It replaces a benefit that paid out up to 96,000 won a month.

This is raising concerns, as Korea is suffering a shortfall in tax revenue and a shrinking economically active population amid a rapidly aging society.

The number of people of working age ― those from 15-64 years old ― is expected to fall from about 37 million in 2015 to 22 million in 2060.

Photo News

티아라 효민 멋진 뒤태에 남심 흔들

섹시백 선발대회 몸매 뽐내는 참가자들

카자흐 女배구선수 초특급 미모, 전세계 ‘깜짝’