Applications accepted from youth or parents; no paperwork needed if family ties verified online
The National Pension Service said Thursday it will begin accepting pre-registrations for its "Youth First Pension Premium Support" program, set to take effect next year.
The program is designed to encourage young people to join the national pension system earlier, as many delay enrollment due to studies or military service, giving them a stronger foundation for retirement.
Youth who turn 18 in 2027 or later will receive full government coverage of their first month's pension premium — 41,000 won ($30), equivalent to the contribution based on the minimum standard monthly income under the national pension system.
Applications can be submitted by the youth themselves or by a parent. When a parent applies, the family relationship must be verified, but if it can be confirmed through the National Pension Service's database, no additional documents are required.
Applications are also available through the NPS website or mobile app, with no need to visit a branch in person.
The NPS plans to run tailored outreach campaigns at high schools and other venues to help young people understand the program and complete their pre-registration.
"The Youth First Pension Premium Support will serve as a solid starting point for young people preparing for their future and retirement," NPS Chairman Kim Sung-joo said. "We will continue providing on-the-ground guidance and outreach so that no one misses out on the benefit simply because they were unaware of it."
thlee@heraldcorp.com
