MZ Generation's Distrust in National Pension System Revealed

A recent report from the National Pension Service (국민연금공단) has revealed that a significant portion of the MZ generation (born from the early 1980s to the early 2000s) is expressing deep skepticism regarding the national pension system. The report, titled 'Keyword Analysis on Public Perception of the National Pension,' indicates a dramatic increase in discussions about the pension system within online communities frequented by this demographic.

The analysis, which examined posts from university student forums such as SnooLife (스누라이프), Gopas (고파스), and Seodam (서담), as well as general open communities like DC Inside (디시인사이드) and Nate Pann (네이트판), covered two periods: July 2017 to June 2019 and July 2022 to June 2024.

Findings showed that the number of posts related to the national pension in university communities surged from 117 to 996, an increase of 8.5 times, while open communities saw a rise from 143 to 613 posts, approximately 4.3 times.

In university forums, keywords such as 'abolition,' 'emigration,' 'exhaustion,' 'Ponzi scheme,' and 'withdrawal' were frequently mentioned, indicating significant anxiety and concern about the pension system. Conversely, open communities highlighted terms like 'savings,' 'citizen,' 'pension reform,' 'refund,' 'generation,' and 'birth rate,' reflecting a shared worry about the depletion of pension funds and a strong interest in reform.

In March, a pension reform proposal was passed, raising the contribution rate to 13% and the income replacement rate to 43%, marking the first reform in 18 years. However, this proposal has faced backlash, particularly from the MZ generation, who had already harbored distrust towards the national pension system, as confirmed by the report.

The researchers noted that while the report is based on data from specific sites and may not represent the views of the entire MZ generation, it could be complemented by future in-depth interviews targeting this demographic.