Basic Pension (기초연금) inflation adjustment for Jan–Mar 2027 — retroactive payment at the April reform being pursued for the bottom 45% by income
Source material is a Korean government announcement (in Korean).
The budget proposal keeps the standard pension amount at 350,000 won for January–March 2027, but the government is pursuing a budget, through National Assembly review, to pay the January–March inflation-linked increase retroactively at the April reform to seniors in the bottom 45% by income.
Key facts
| January–March 2027 | Budget proposal keeps the 2026 standard pension amount (350,000 won) for all recipients — January–March inflation-linked increase not included |
|---|---|
| Reform timing | Basic Pension reform in April 2027 (differentiated-payment system and subordinate regulations) |
| Retroactive payment | Seniors in the bottom 45% by income — retroactive payment of the January–March inflation-linked increase at the April reform being pursued |
| Status | Seeking to reflect the retroactive budget during National Assembly budget and legislative review (not yet finalized) |
Last checked:
In an explanatory note on October 7, 2026, the Ministry of Health and Welfare (보건복지부) explained that, to prepare the differentiated-payment system and subordinate regulations before the Basic Pension reform (April 2027), the government budget proposal keeps the 2026 standard pension amount (350,000 won) for all recipients through March 2027, so the budget for the January–March inflation-linked increase was not included. The government judges that paying the January–March inflation-linked increase retroactively at the April reform to seniors in the bottom 45% by income would better serve the purpose of the reform, and said it would seek to have the retroactive budget reflected during the National Assembly's budget and legislative review. The retroactive payment will be finalized depending on the outcome of the National Assembly review.
Summaries below are factual notes based on government announcements and primary sources — not evaluations or opinions.
FAQ
How much is the Basic Pension for January–March 2027?
The government budget proposal keeps the 2026 standard pension amount (350,000 won) for all recipients through March 2027.
Will I not receive the January–March inflation increase?
The government said it would seek to have a budget reflected in the National Assembly review to pay the January–March inflation-linked increase retroactively at the April reform to seniors in the bottom 45% by income. It will be finalized depending on the outcome of the National Assembly review.