SEOUL, Aug. 25 (Xinhua) -- South Korea's elderly monthly pension rose in single digits in 2023, continuing a steady increase, statistical office data showed Monday.
The monthly average pension for those aged 65 and older amounted to 695,000 won (501 U.S. dollars) in 2023, up 6.9 percent from a year earlier, according to Statistics Korea.
The monthly pension had been on the increase from 423,000 won (305 dollars) in 2016 to 528,000 won (381 dollars) in 2019 and 650,000 won (469 dollars) in 2022.
The number of those above the age of 65 who received a pension from at least one pension program was 8,636,000 in 2023, up 5.6 percent compared to the previous year.
The pension receivers accounted for 90.9 percent of those in the age group in 2023, up 0.5 percentage points from a year earlier. ■
