National pension recipients top 8 million, but 7 in 10 receive less than 600,000 won a month

The number of national pension recipients has surpassed 8 million, yet retirement finances remain tight for many. As of July, roughly 7 in 10 recipients received less than 600,000 won ($449) a month. The recipient count has doubled in 11 years since crossing the 4 million mark in 2015 and is projected to exceed 10 million by 2030.

According to the National Pension Service's published statistics, 8,062,142 people received at least one pension payment between January and the end of July this year. The figure is a cumulative count combining old-age pension and lump-sum recipients, and includes those who died after receiving payments during the period.

The tally compares with 4,028,671 annual recipients in 2015 — the first year the count surpassed 4 million — meaning the rolls have doubled in 11 years. With the elderly population continuing to grow, the number of national pension recipients is expected to keep rising for now.

A medium-term fiscal outlook for 2026–2030 released by the National Pension Research Institute in August projects about 8.28 million recipients this year, with total benefit payments reaching 56 trillion won. The eligibility age for old-age pensions rises from 63 to 64 in 2028, which is expected to slow growth somewhat, but the recipient count is still projected to reach about 9.001 million in 2028 and about 10.06 million in 2030.

Even as the recipient base expands rapidly, actual pension amounts remain low. As of July, the most common monthly benefit bracket was 200,000 won to under 400,000 won, covering 2,991,230 people — 38.0 percent of the 7,863,299 total recipients that month. Those receiving 400,000 won to under 600,000 won numbered 1,666,760, or 21.2 percent.

Another 535,279 people, or 6.8 percent, received less than 200,000 won a month. Combined, 66.0 percent of July recipients received less than 600,000 won monthly. While the recipient rolls continue to grow, securing pension amounts sufficient to support a decent retirement remains an unresolved challenge.