In 2024, the amount of retirement pension funds increased by 12.9% compared to the previous year, reaching 431 trillion won. The composition ratio by system type was 49.7% for defined benefit plans, 26.8% for defined contribution plans, and 23.1% for individual retirement pensions, with the proportion of individual retirement pensions increasing by 3.1%p compared to the previous year.
In 2024, the total number of workplaces that introduced the retirement pension system was 442,000, an increase of 1.3% compared to the previous year. Among the introduced workplaces, defined contribution plans accounted for 68.0%, defined benefit plans for 19.0%, and mixed plans for 7.4%, with an introduction rate of 26.5%. The introduction rate by industry was 60.4% for health and social welfare, 57.0% for finance and insurance, and 36.7% for manufacturing.
In 2024, the total number of workers enrolled in the retirement pension system increased by 2.9% compared to the previous year, reaching 7.354 million. Among the enrolled workers, defined contribution plans accounted for 54.6%, defined benefit plans for 42.6%, and mixed plans for 2.0%, with an enrollment rate of 53.3%. The enrollment rate by gender was 54.0% for men and 52.3% for women, with the 30s age group having the highest rate at 60.7%.
In 2024, the number of people enrolled in individual retirement pensions increased by 11.7% compared to the previous year, reaching 3.592 million, and the amount of funds increased by 30.3% to 99 trillion won. The number of mid-term withdrawals increased by 4.3% compared to the previous year, and the withdrawal amount increased by 12.1%. The main reason for mid-term withdrawals was home purchases, accounting for 56.5%.