How it is calculated
| Period | Contribution rate (you + employer) | Insured income floor – cap |
|---|---|---|
| until Dec 2025 | 9% (4.5% + 4.5%) | ₩400,000 – ₩6,370,000 (from Jul 2025) |
| 2026 | 9.5% (4.75% + 4.75%) | ₩410,000 – ₩6,590,000 (from Jul 2026) |
| 2027 | 10% (5% + 5%) | new cap from Jul 2027 |
Example: ₩2,800,000 a month for 32 months (Mar 2024 – Oct 2026) → contributions of about ₩8,204,000 before interest. Interest follows the 3-year time-deposit rate for each month's contribution, so the calculator's 3% is a rough assumption.
Who is eligible
- By visa, any nationality: E-8, E-9, H-2 (EPS and seasonal workers)
- Social security agreement (24 countries): e.g. USA, Canada, Germany, France, Australia, India, Philippines, Brazil, Türkiye, Switzerland
- Reciprocity (26 countries): e.g. Indonesia, Thailand, Malaysia, Sri Lanka, Cambodia, Kazakhstan, Hong Kong — some require 6 or 12 months insured
- Not eligible: nationals of Ireland, Denmark, Spain, Sweden, Finland, New Zealand (their treaty excludes it), and countries not on the list — but insured periods may count toward a pension in your home country
The full, current list is on the NPS English page (list dated 15 Jun 2026). Vietnam, Nepal, Bangladesh, Myanmar and Uzbekistan workers usually qualify through the E-9 visa route rather than by nationality.
Don't close your bank account first
NPS needs an account to pay into if the airport cash option fails (weekends, holidays). Give an account that stays open after you leave — an overseas account is safest.
FAQ
Can foreigners get their Korean National Pension back?
Yes, as a lump-sum refund (반환일시금) when you leave Korea for good — if you held an E-8, E-9 or H-2 visa (any nationality), or if your country has a social security agreement or reciprocity with Korea. Nationals of e.g. Ireland, Denmark, Spain, Sweden, Finland and New Zealand cannot claim it.
Do I get the employer's half too?
Yes. The refund is the total contributions paid for your insured period — your 4.75% and the employer's 4.75% in 2026 — plus interest. It is not only what was deducted from your payslip.
When and where do I apply?
Within 1 month before departure at any NPS branch (bring passport, ARC, bank statement and a flight ticket), or from abroad by mail. Departing from Incheon you can choose to receive it in cash at the airport (USD, EUR, JPY or CNY) on a weekday.
Is the refund taxed?
Part of it can be withheld as retirement income tax. NPS calculates this; the figure above is before tax [check with NPS 1355].
Sources: National Pension Act art. 77 (lump-sum refund) and 126 (foreigners); NPS notice on 2026 insured income caps; Ministry of Health and Welfare 2025 pension reform. Estimate only — NPS (1355, English available) gives the official amount.