Nearly one thousand South Koreans are set to increase their pension income by giving birth to or adopting two or more children.

According to the National Pension Service on Saturday, the number of recipients of this childbirth credit plan stood at 964 as of June.

The plan, aimed at reversing the decline in birth rates, increases pension payments in later life to those with more than two natural or adopted children.

The number of credit recipients stood at only 42 in 2011, three years after the introduction of the plan. The service believes the figure will top one thousand this year.