The ‘standard median income’, which is the standard for various welfare projects such as the basic livelihood security system, will increase by 6.09% next year for a family of four.
This is the largest increase since the transition to a customized benefit system, and the scope of welfare programs has expanded accordingly. The threshold for selecting beneficiaries for each benefit was also lowered, and the livelihood benefit, which was received by 30% or less of the standard median income, was expanded to 32% or less.
The Ministry of Health and Welfare held the 70th Central Livelihood Security Committee on the 28th to deliberate and decide on the median income, selection criteria for each salary, and minimum security level as of 2024.
The standard median income is the income of the household in the middle when all households are lined up in order of income. It is used as a selection criterion for 73 projects in 13 ministries (as of this year).
The median income for next year was set at 5,729,913 won, a 6.09% increase from this year’s 5,409,964 won based on a family of four. Based on one-person households, it was set at 2,228,445 won, up 7.25 percent from this year’s 2,077,892 won.
The rate of increase is the highest since 2015, when it was converted to a customized benefit system.
The growth rate of median income compared to the previous year was 4.00% in 2016, 1.73% in 2017, 1.16% in 2018, 2.09% in 2019, 2.94% in 2020, and 2.68% in 2021. Since then, it has risen significantly by 5.02% and 5.47% in 2022 and 2023, respectively, and has increased even more this year.
In principle, the standard median income is determined by multiplying the median income based on the previous year by the basic increase rate, which is the average increase rate of the Household Financial Welfare Survey over the past three years, and a separate additional increase rate (temporarily applied until 2026). A basic increase rate of 3.47% and an additional increase rate of 2.53% were applied to the median income as of next year.
The selection criteria for each benefit are set at a certain percentage of the standard median income, and this standard ratio was raised for livelihood benefit and housing benefit to lower the threshold of receipt.
Those eligible for livelihood benefits who earned less than 30% of the standard median income were raised to 32% or less, and those eligible for housing benefits who earned less than 47% were raised to 48% or less.
It is the first time in seven years since 2017 that the standard for온라인카지노 selecting livelihood benefits has risen from 30%.
Next year, a monthly income of 1,833,572 won (1,620,289 won this year) or less for a household of 4 or less, and a monthly income of 713,102 won or less (623,368 won this year) or less for a single-person household can receive livelihood benefits next year. .
The amount of livelihood benefit provided to eligible households is the amount obtained by subtracting the household’s recognized income from the selection standard amount, and this amount becomes the maximum payment amount.
The increase in the standard median income and the upward adjustment of the ratio of the median income to the standard for selecting livelihood benefits overlapped, resulting in an increase of 13.16% for four-person households and 14.40% for single-person households, or the maximum payment amount (amount for selection of beneficiaries).
According to the Ministry of Health and Welfare, the maximum amount of livelihood benefit for a four-person household rose by about 196,000 won between 2017 and 2022, and the increase (213,000 won) for next year compared to this year is even greater.
As a national task, the government is promoting a plan to gradually raise the standard for selecting livelihood benefits to 35% of the standard median income within the term of office.
Meanwhile, the number of recipients of housing benefit will widen from 2,538,453 won or less to 2,750,358 won or less based on a four-person household.
As in this year, medical benefits and education benefits are set at 40% and 50% of the standard median income. Based on a four-person household, next year’s medical benefit recipients will earn less than 2,291,965 won per month, and those eligible for education benefits will earn less than 2,864,956 won. In the case of housing benefit, the standard rent (upper limit on rental benefit payment) by class and number of household members was increased by
11,000 won (3.2%) to 27,000 won (8.7%). As for education benefits, it was decided to raise the educational activity support cost from 90% to 100% of the minimum education cost (461,000 won for elementary school, 654,000 won for middle school, and 727,000 won for high school).
The Ministry of Health and Welfare said, “In accordance with the current government’s policy of strengthening welfare for the weak, despite the difficult economic conditions at home and abroad, the median income for next year has been raised to the highest increase rate ever.” will be significantly strengthened,” he said.
However, some point out from civil society that more efforts are needed to make the median income a reality.
In a statement, the civic group Joint Action to Correct the Basic Law pointed out, “There is still a difference from the National Statistical Office’s Household Financial Welfare Survey. The welfare baseline is about three years behind the actual, so efforts are needed to realize it.”