President Lee Jae-myung speaks during a Cabinet meeting at the presidential office on March 10. /Yonhap

President Lee Jae-myung on March 16 called for reform of South Korea’s basic pension system to provide stronger support for elderly people living in poverty.

In a post on social media platform X, Lee said the current system needs to be adjusted so that benefits are distributed more generously to low-income seniors.

“Growing old together as a married couple should not be a disadvantage,” Lee wrote, referring to the current rule that reduces pension benefits for couples who both receive the payment. “Some couples reportedly even resort to sham divorces to avoid the reduction.”

He added that the reduction was introduced due to fiscal constraints but suggested it should be corrected where possible.

Lee shared a news report stating that the government plans to gradually reduce the pension deduction applied to elderly couples starting in 2027, prioritizing low-income households.

South Korea has one of the highest suicide rates among both the general population and the elderly in the world, Lee noted, adding that poverty is the leading cause of suicide among seniors.

“To reduce elderly poverty, which can even drive people to suicide, the basic pension system needs to change,” he said.

Lee also pointed out that seniors with monthly incomes of several million won currently receive the same pension amount as those with no income.

“Shouldn’t we now consider providing more generous payments to elderly people who are actually living in poverty?” he said.

According to government officials, the Ministry of Health and Welfare is preparing reforms aimed at strengthening retirement income security in response to South Korea’s rapidly aging population.

One proposal under review would prioritize improvements to the rule that reduces pension payments by 20 percent when both spouses receive the benefit.

ⓒ "젊은 파워, 모바일 넘버원 아시아투데이"