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Insurance premium support criteria Relaxed to 1 million won
Photo: 한국경제
In short
The National Pension Service decided to raise the insurance premium support criteria for low-income self-employed contributors.
Currently, only those with monthly income below 800,000 won receive 50% of their insurance premiums covered.
Starting in the future, those with monthly income below 1 million won may become eligible for support.
Key facts
When
The plan is being pushed to be reflected in the 2027 government budget, with the implementation timing to be determined.
Who
The National Pension Service reported the plan during a parliamentary inspection by the National Assembly Health and Welfare Committee.
What
The plan raises the income criteria for insurance premium support for low-income self-employed contributors from 800,000 won to below 1 million won per month.
How
When criteria are met, eligible contributors can receive up to 50% of their insurance premiums for a maximum of 12 months over their lifetime.
What it means for me
Self-employed contributors with monthly income between 800,000 and 1 million won may see their insurance premium burden reduced.
Self-employed workers with fluctuating income may be eligible for broader insurance premium support.