Born in the 1970s? When you might receive a pension if the starting age is raised
An independent exercise, not a statement by the video creator or verification of every claim in the video.
How much larger is the gap if pension payments hypothetically start 3 years later?
Assume employment income ends at 60 and the monthly living-cost shortfall after other income remains KRW 1.8 million. Starting at 65 requires KRW 108 million over 60 months; hypothetically starting at 68 requires KRW 172.8 million over 96 months. The difference is 36 months×KRW 1.8 million=KRW 64.8 million. This is a sensitivity comparison changing only the starting age, not a claim that a policy change is settled.
Check for yourself
- Does the shortfall deduct household income that continues after retirement?
- Has any increase in actual working years been treated as a separate assumption rather than assumed to follow a later pension age?
Limits of application
This hypothetical calculation is not an official birth-year forecast. Inflation, returns, tax, contributions, monthly payment dates and one-off expenses are excluded. Any living-cost shortfall after payments begin and longevity risk require separate calculations.
- What to look for
- Distinguish official pension eligibility ages, a discussion proposal and the speaker’s predicted coverage schedule as different kinds of information.
- Why it matters
- Avoid fixing a retirement plan to a single policy forecast by varying pension and actual retirement timing to assess changes in the income gap and funding needs.
Timeline
4 segmentsOfficial normal pension ages are 64 for people born in 1965–1968 and 65 for 1969 onward, with contribution-period and other eligibility requirements also applying. The video’s subsequent assignment of 66 for 1973–1976 births, 67 for 1977–1980 births and 68 from 1981 births is the speaker’s hypothetical schedule, not an official coverage table. A birth year alone does not establish a changed eligibility age; any reform requires checking effective dates and transitional provisions.