The majority of college students in South Korea think “parents should prepare for their elderly life on their own,” according to a survey conducted by National Pension Service released on Tuesday.

The organization’s Gwangju headquarters surveyed 486 local college students on their understanding of the country’s pension system. 

Of them, 86 percent said they were unwilling to financially support their parents after retirement.

Reasons for their unwillingness were that their parents should rely on the “national pension” for their elderly lives (52.8 percent of unwilling students), followed by “installment savings” (17.4 percent) and “personal pension” (15.8 percent).

Only 7.8 percent of the respondents felt responsibility to financially support their aging parents.

From news report
(knews@heraldcorp.com)