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SEOUL， Nov. 25 (Xinhua) -- Confidence among South Korean consumers over economic conditions worsened to the lowest in over seven years on growing uncertainties at home and abroad， central bank data showed on Friday.


The composite consumer sentiment index (CCSI) stood at 95.8 in November， down from 101.9 in the previous month， according to the Bank of Korea (BOK). It was the lowest since April 2009 when the global financial crisis rattled the world economy.


Concerns emerged about the so-called "consumption cliff，" which means a steep decline in private consumption expected to happen later this year or early next year on uncertainties.


On the domestic front， a scandal involving President Park Geun-hye and her longtime confidante is forecast to weaken consumer spending on rising expectations that the political crisis may disrupt economic policies.


President Park has rejected her voluntary resignation， and the National Assembly plans to impeach the scandal-plagued president. The impeachment process is predicted to take months and last until the first half of next year.


External uncertainties also grew as Donald Trump， who is known to be pessimistic about trade relations with South Korea， was elected as next U.S. president.


Consumers are worried about possible reduction in South Korean exports， which account for about half of Asia's No. 4 economy.


Expectations for consumer price inflation， which reflects outlook among consumers for headline inflation in the next 12 months， came in at 2.5 percent， unchanged from the previous month.


by Juhani Niinisto


HELSINKI Air Max 270 Flyknit Italia , Oct. 20 (Xinhua) -- "If this is permanent, what will be left of my buying power in 10 or 15 years?" asked Kerttu Saarela, a pensioner in her early 70s in Jyvaskyla, Central Finland.


The Nordic country is renowned for its sound pension system, where the purchasing power of pensioners has been partially protected with annual increases based on salaries and prices.


But the government is now defining the increase in 2015 only as 0.4 percent Air Max 270 Tiger Italia , while the true need could be 1.5 percent, according to analysts.


Complaining about rising heating bills and automobile insurance, Saarela was worried that her immunity against inflation may no longer exist.


Pensioners seem to be the first casualty as Finland, already grappling with an aging population, tries to adjust its social safety net in the context of current economic challenges.


Expecting negative gross domestic product (GDP) growth for the third consecutive year Air Max 270 Rosse Italia , Finnish ruling parties have suggested harsh cuts in expenditure.


Heated quarrels over decreased welfare investment caused the left alliance to walk out of the government in March this year.


The international reputation of the Finnish pension system is still good though. Last week, Finland came fourth in the international Melbourne Mercer Global Pension Index. It did well in integrity and transparency. Denmark came first, followed by Australia and the Netherlands.


A recent plan to raise the pension age in Finland from 63 to 65 was accepted by the majority of unions. It is supposed to ease the burden on the system as people live longer.


Last year, the average Finnish monthly pension was 1,550 euros (1 Air Max 270 Bianche Italia ,978 U.S. dollars) before tax. In Finland, pensions amount roughly to a half of the salary earned, while in countries such as Spain and Italy it can be 70 percent.


In terms of value and purchasing power, Finnish pensions are half way in the European scale, slightly worse than in Germany and Sweden.


Denmark and Luxembourg are the most generous. In Eastern Europe Air Max 270 Blu Italia , pensions are much lower, but purchasing power is compensated through the lower cost of living.


Finnish citizens do not have much personal control over their pension plan. The Finnish public work pension system involved no personal accounts and employees were not required to make any payments until the 1990s. Until then, the burden lay with employers alone.