Osan City Accepting Applications for Basic Old-Age Pension

Osan City in Gyeonggi Province (Mayor Gwak Sang-wook) announced on the 19th that it is accepting applications for the Basic Old-Age Pension targeting residents who have reached 65 years of age, elderly individuals living alone (primarily low-income), persons registered as unlocated residents, and those who failed to meet the selection criteria last year.

The Basic Old-Age Pension is a nationwide system implemented to promote stable living and enhance welfare for elderly people facing financial difficulties. Pensions are provided to the lower 70% of elderly citizens based on income and assets levels.

Based on the income and asset levels of elderly households, this year's selection criteria for the lower 70% of elderly pension recipients is 1.392 million won per month for elderly couples and 870,000 won for single-person households—an increase of 640,000 won and 40,000 won respectively from last year. Elderly couples or single elderly individuals with recognized income below the selection criteria amount are eligible to apply for the Basic Old-Age Pension.

Monthly pension amounts for single elderly households range from a maximum of 96,800 won to a minimum of 20,000 won. For couples receiving pensions simultaneously, the monthly amount is a maximum of 154,900 won and a minimum of 40,000 won.

Required documents for the Basic Old-Age Pension application include the application form, income and asset declaration form, consent form for financial information provision, identification card, bank account copy, and income and asset-related documents. Applicants should visit the neighborhood community center in their residential district. For proxy applications, a power of attorney and the proxy's identification card must be submitted additionally.

For inquiries regarding Basic Old-Age Pension applications, applicants can contact the neighborhood community center in their district or the Social Welfare Division of Osan City (031-8036-7446).