Table 5 The main points from relevant stakeholders and policy experts
Current | Ruling Party | Government | Kim Tae-Il Plan | Kim Yong- Ha | Opposition Party+Civil Union | |
|---|---|---|---|---|---|---|
Contribution Rate | 1.9% | Tenure:1.25% New: 1% | Tenure:1.5% New: 1% | Tenure:1.25% New: 1% (+Saving Account) | 1.65% | 1.9% |
Entitlements | 7% | Tenure: 10% New: 4.5% | 10% | 9% | ||
Retirement Allowance | About 39% in Private Organization | Up to Private Organization | Tenure: Current New: Up to Private Organization | Up to Private Organization | Supporting Current Level | |
Income Replacement | 64.5% | Tenure:52.4% New: 44.9% | Tenure:52.5% New: 49.1% | Tenure:52.4% New: 56.1% | 57% | 64.5% |