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Number of high pension payment recipients increase after inflation adjustment

All Headlines 09:25 February 18, 2019

SEOUL, Feb. 18 (Yonhap) -- Twenty-two people were receiving top-rate national pension payouts exceeding 2 million won (US$1,776) a month as of end-January, with the highest amount of 2.07 million won, according to the National Pension Service on Monday.

The first pension payment of more than 2 million won was recorded in January last year.

The latest number is an increase from 10 at the end of December as the amount was raised in step with the rate of inflation for 2018.

A 66-year-old Seoul resident was the biggest recipient after subscribing to the pension for 300 months and paying a total of 72.69 million won.

Some 540,000 people received an average monthly pension of 910,000 won last year.

Number of high pension payment recipients increase after inflation adjustment - 1


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