More than half of South Koreans aged 60 to 64 receive no pension of any kind, according to the 2024 pension statistics released on the 25th by Statistics Korea. Of 4.105 million people in the age group, 1.824 million received at least one of 11 pension types, including the National Pension, occupational pensions, retirement pensions and private pensions, for a coverage rate of 44.4%. Among non-recipients, 1.199 million had jobs recorded in administrative data, while 1.082 million had neither a pension nor a registered job, equivalent to 26.4% of the age group. Across all people aged 65 and older, pension coverage reached a record 91.2%, but the average monthly payment of 737,000 won was about 53% of the 1.392 million won monthly minimum retirement living cost cited by people aged 50 and over. The income gap may widen as the National Pension eligibility age rises to 64 in 2028 and 65 in 2033. Younger workers also face weaker coverage, with the number of subscribers aged 18 to 29 falling to 4.127 million and their enrollment rate declining to 62.0% last year.