By Lee Min-hyung
Cheong Wa Dae plans to apply new measures to overhaul the nation's pension system.
On Friday, the National Pension Service (NPS) plans to conduct a public hearing where it is to unveil a series of its reform packages to lay out a comprehensive pension management plan by the end of next month.
The planned reform drive is facing a strong public backlash, as the government is reportedly considering plans to raise the burden of its subscribers amid concerns for the pension's depletion.
For this reason, political circles are stepping up their criticism of the government even before the Ministry of Health and Welfare unveil their tentative reform plans.
Kim Sung-tae, floor leader of the Liberty Korea Party (LKP), criticized President Moon Jae-in for failing to take more effective action on the issue.
“President Moon should not merely look at the issue,” Kim said, calling on Moon to seek a breakthrough to end the years-long controversy surrounding the national pension system.
The remarks came in response to the President's comment on Monday when Moon said it is difficult for him to comprehend the ministry's ongoing reform plan. Moon said the reform plan will only be confirmed after the National Assembly enacts relevant bills following thorough social discussions.
“The reported reform drive sounds unconvincing,” Moon said. “The government will never reform the pension system without consent from the public.”
Kim Kwan-young, floor leader of the Barunmirae Party, also took issue with the President's attitude.
“The controversy surrounding the pension reform is due to inept policy drives from the welfare ministry, but the President speaks in a way to shift the responsibility to the National Assembly,” Kim said.
Under the reported reform plan, the government is also seeking to extend the subscription period to the age of 65 from the current 60, and allow the subscribers to receive their pensions from the age of 68. At the moment, subscribers begin getting their pensions from the age of 65.
Following the reports, the young generation particularly in their 20s and 30s are expressing complaints, as they have to assume a larger burden if the reported reform packages go into effect.
The reformed pension system will force young subscribers to pay more and receive pensions later than under the current system.