South Korea’s pension fund is expected to be exhausted in 2055, and the “post-95s” may have no pension to receive?

Population aging, birth rate decline, and corresponding social problems such as pension gap and delayed retirement are already problems faced by many countries around the world. The general strike in France at the end of last year was to oppose the postponement of retirement. my country’s population began to show negative growth last year. As early as March 2019, the Korean Statistical Agency issued an early warning that it was determined that the natural population decline in South Korea would begin that year, that is, the South Korean population began to experience negative growth. At the beginning of this year, South Korea issued a warning that the pension will be exhausted in 32 years. This kind of worry is indeed disturbing.

According to World Bank data, South Korea’s per capita output value has increased by about 17 times in the past 40 years. South Korea has sustained rapid economic development for so many years, and the economic recession in the next few years due to population decline is indeed a big impact. The historical population policy development of South Korea is similar to that of China, both of which first had the “family planning” policy to restrain population growth, and then adjusted it to encourage birth.

By 2005, South Korea’s fertility rate was 1.08, even worse than that of Japan, a recognized low-fertility country. Beginning in 2006, South Korea’s plan was to use five five-year plans to reverse the declining fertility rate, but by 2018, South Korea’s fertility rate had fallen below 1, setting the lowest record in the world. In recent years, South Korea’s high unemployment rate and changes in people’s concept of fertility have made it difficult to increase the fertility rate in South Korea. This is also a very headache for the government.