Pilot Program to Begin for State Management of Dementia Patients' Assets

Starting on the 22nd, a pilot program will launch to assist elderly individuals who struggle with asset management due to dementia or mild cognitive impairment. This service involves the state taking custody and managing the assets of the elderly, primarily targeting basic pension recipients. Low-income individuals experiencing financial difficulties or early-onset dementia patients under the age of 65 will also be eligible.

The 'Dementia Security Asset Management Service' will operate through trust contracts with the National Pension Service. Manageable assets are limited to liquid assets such as cash, debt instruments, and reverse mortgages, with an upper limit of 1 billion won.

Following the commencement of the trust contract, the National Pension Service will disburse monthly living expenses and care costs according to a personalized financial support plan for each beneficiary. Special expenditures not included in the plan or requests for contract termination will be subject to approval by a committee including external experts.

The government plans to introduce the full-scale program in 2028 after a two-year evaluation period, with plans to pursue project assessment and amendments to the Dementia Management Act starting in the latter half of the year.