Korea pension refund estimator

How the pension refund works

Foreign residents who worked in Korea and contributed to the National Pension Service (국민연금, gungmin yeon-geum) can claim a lump-sum refund (반환일시금, banhwan ilsigeum) of their employee contributions plus a small amount of interest when they leave Korea permanently. The Korean pension contribution rate as of 2026 is 9.5% of standard monthly income, split equally between you and your employer at 4.75% each. Only your half comes back as the lump-sum refund. Your employer's matching 4.75% stays with NPS.

There are three independent ways to be eligible. First, workers on E-8, E-9, and H-2 visas qualify regardless of nationality, because these visa categories are explicitly covered by the refund rule. Second, citizens of countries with a bilateral social security agreement that includes lump-sum provisions qualify automatically: 24 countries are on the list as of 2026, including the United States, Germany, the United Kingdom (via reciprocity), Canada, the Philippines, India, Australia, and most of the EU. Third, citizens of countries on Korea's reciprocity list, where Korean nationals can receive an equivalent benefit in that country, also qualify; this covers Thailand, Indonesia, Malaysia, Sri Lanka, and several others.

Long-term residents from countries with no agreement and no reciprocity (most commonly F-2, F-4, F-5, and F-6 holders from China and a handful of other countries) do not get the lump-sum refund. They are treated the same as Korean nationals and must reach 10 years of contributions to draw a regular pension.

When and where to claim

You can claim before departure (at any NPS branch with your passport, ARC, and a flight ticket within one month), at the Incheon Airport NPS desk on the day of your flight (which pays in one of 16 foreign currencies in cash at the airport currency exchange), online through the NPS English portal (with simplified authentication via Naver or KakaoTalk, no joint digital certificate required since 2024), or by mail from your home country after departure (with notarized or apostilled documents).

You have five years from your departure date to claim. After that the statute of limitations runs and the money stays with NPS.

What this estimator doesn't do

This is a planning estimate, not a quote from NPS. The actual amount depends on your standard monthly income each year (NPS recalculates it once a year, sometimes slightly different from your gross salary), the 3-year Korean treasury bond rate on the day NPS pays out, and the won-to-home-currency exchange rate if you receive the money overseas. The withholding tax is approximated at 6.75%; NPS applies the pension-income tax formula, which can produce a slightly different number for very long or very short tenures.

For a precise figure once you're ready to claim, log in to the NPS English portal at nps.or.kr or call the foreigner helpline at 1355. The pension refund guide linked below walks through the full process step by step.