Starting January 2024, both National Pension and Basic Pension payments have increased by 2.1%, expanding benefits for recipients. On January 9, the Ministry of Health and Welfare held the first National Pension Review Committee meeting of 2026 at the National Pension Service Gangnam office, deciding on pension payment increases, adjustments to income standard limits, and the extension of special provisions for income standard determination. These changes reflect the inflation rate, allowing pensioners to receive higher payments from this month. The basic pension standard amount has also been raised, providing greater support for senior citizens.
The basic National Pension amount and dependent family pension have been increased by 2.1%, reflecting last year\’s consumer price inflation. Approximately 7.52 million National Pension recipients will receive the increased payments starting in January. The committee also set the revaluation rate for new pensioners in 2026; for example, the 1988 revaluation rate is 8.528, meaning an income of 1 million KRW at that time is now valued at about 8.528 million KRW in 2025. The income standard ceiling will rise from 6.37 million KRW to 6.59 million KRW, and the floor from 400,000 KRW to 410,000 KRW, following a 3.4% increase in the average income of all subscribers over the past three years.
In addition to adjusting income standard limits, the committee extended the special provision for income standard determination by three years, supporting workers with significant income fluctuations. This system allows workplace subscribers whose income changes by more than 20% annually to pay insurance premiums based on actual income. The adjusted income standard limits will apply to premiums from July, but about 86% of all subscribers will not be directly affected. The basic pension standard amount also increased from 342,510 KRW per month last year to 349,700 KRW this year, benefiting around 7.79 million seniors from January.
The Ministry of Health and Welfare plans to sequentially revise related notices to reflect the committee\’s decisions and strengthen guidance so that pensioners and subscribers can feel the changes. The basic pension standard amount notice will be amended in January, and support will be expanded so that both National and Basic Pension recipients receive tangible benefits. For inquiries, contact the National Pension Policy Division, National Pension Service Subscription Support Office, Pension Payment Team, or Basic Pension Division. These improvements are expected to play a key role in enhancing retirement security and welfare.