Core Insights - The number of individuals in South Korea applying for early pension benefits has surpassed 1 million, reflecting the financial pressures faced by retirees due to factors like "income cliff" and healthcare system adjustments [1][2] Group 1: Early Pension Claims - As of July 2025, the number of early pension claimants reached 1,000,700, marking the first time this figure has exceeded 1 million since the pension system's inception in 1988 [1] - The gender distribution shows that male claimants account for 660,000, approximately double that of female claimants [1] - Early pension claims have increased significantly since 2020, rising from over 670,000 to 1 million, a growth rate of about 49%, representing 16% of all pension recipients [1] Group 2: Financial Pressures and Policy Changes - The pension eligibility age has been gradually raised since 1998, with the latest increase from 62 to 63 years in 2023, contributing to the surge in early claims due to the "income gap" phenomenon [2] - A significant change in the healthcare subsidy eligibility criteria in September 2022 has led many retirees to opt for early pension withdrawals to avoid increased healthcare costs [2] - The trend of early pension claims has expanded beyond traditional low-income groups, with those earning over 5 million won per month increasing to 3.2 times compared to 2021, while those earning below 1.5 million won have decreased [2] Group 3: Implications for Pension System - Early pension claims can reduce benefits by up to 30%, potentially exacerbating elderly poverty [2] - The increasing number of involuntary early claimants, alongside the retirement of the baby boomer generation, may place additional strain on the national pension system [2]