The number of people subscribing to the National Pension Service(NPS) is expected to decline starting from next year in line with a drop in the working age population.
 
According to the National Pension Research Institute on Thursday, the number of people subscribing to the NPS is expected to grow from some 21-point-six million at the end of last year to around 21-point-eight million this year. However, the institute said the figure is likely to fall to roughly 21-point-seven million next year and to 21-point-two million in 2020 as the working age population is expected to decline due to low birthrates. 
 
As a result, the growth rate of the overall pension premium is expected to stand at six-point-one percent this year, two-point-81 percent in 2018 and two-point-84 percent in 2020.
 
However, the institute estimates that the total amount of pension premium will likely grow steadily from this year’s 37-and-a-half trillion won to 42-point-two trillion won in 2020.