The number of South Koreans receiving public pension payments will rise by 8.2 percent next year, according to a government report submitted to the National Assembly.
The public pension system consists of four pension programs, including the state pension and separate programs for public servants, military officers and public school teachers.
According to the report, 4.69 million Koreans will receive public pension payments next year, while only 4.33 million received them this year. In total, some 35 trillion won ($32.5 billion) will be spent by the government on the payments.
The number is rising mainly because more Koreans will receive national pension premiums next year. More than 4 million people will receive national pension payments, according to the report.
