(C) BORGEN Magazine

SEOUL – The Ministry of Health and Welfare announced on January 1, 2026, that the income eligibility threshold for the basic pension has been adjusted upward. Under the new guidelines, single senior households with a monthly "recognized income" of 2.47 million won or less are now eligible to receive benefits.

Updated Eligibility Criteria
For senior couples, the threshold has been set at 3.952 million won, marking a significant increase from the previous year. Specifically, the criterion for single-person households rose by 190,000 won compared to 2025.

The adjustment reflects a general increase in the income and asset levels of the elderly population. While earned income among those aged 65 and older saw a slight decline of 1.1%, other financial indicators showed robust growth:

Public Pension Income: Increased by 7.9%
Business Income: Rose by 5.5%
Asset Values: Housing and land values climbed by 6.0% and 2.6%, respectively.

Bridging the Income Gap
The selection threshold is designed to ensure that approximately 70% of the elderly population receives the pension. However, data from September 2025 reveals that the vast majority of current recipients—roughly 86%—are concentrated in the low-to-middle income bracket, with a recognized income of less than 1.5 million won.

Notably, as the financial status of seniors improves rapidly, this year's threshold has reached 96.3% of the median income, indicating a narrowing gap between the pension eligibility line and the national average income.

Future Policy Directions
In response to these demographic and economic shifts, the Ministry plans to discuss further institutional improvements. These discussions will be held within the National Assembly’s Special Committee on Pension Reform, focusing on both strengthening retirement income security and ensuring the long-term sustainability of the system.

"We will actively promote and provide guidance on the application process to ensure that all eligible seniors who need the basic pension can receive it without exception," stated Son Ho-jun, Director General for Pension Policy at the Ministry of Health and Welfare.