South Korea state pension 2026: how it is calculated
The public pension in South Korea follows national rules that usually look at your years of work or contributions, your pay and the age at which you claim it. The calculator above applies the 2026 rules to your own working life. Below you will find the rules in brief, an example by claim age and what your contributions buy.
The rules in brief
- National pension: After at least 10 years of contributions you get an old-age pension from 65 if you were born in 1969 or later. From 2026 each year of contributions earns a pension of about 1.075% of the average of your own pay and the average pay of all insured people (43% for 40 years). You can claim up to 5 years early with 6% less per year, or defer up to 5 years with 7.2% more per year.
- Basic pension: People aged 65 and over in the lower 70% of income and assets can get the basic pension, up to 349,700 won a month for a single person in 2026, reduced for higher national pensions.
Example: pension by claim age
| Age | Status | Gross / month | Net / month |
|---|---|---|---|
| 60 | −30.0% | ₩977,293 | ₩977,293 |
| 61 | −24.0% | ₩1,095,062 | ₩1,095,062 |
| 62 | −18.0% | ₩1,218,425 | ₩1,218,425 |
| 63 | −12.0% | ₩1,347,434 | ₩1,347,434 |
| 64 | −6.0% | ₩1,482,143 | ₩1,482,143 |
| 65 | Full pension | ₩1,622,605 | ₩1,622,605 |
| 66 | Full pension | ₩1,739,433 | ₩1,739,433 |
For someone aged 35 today who has worked 10 years so far, with an average of ₩3,500,000 gross a month until now, earning ₩4,000,000 from now with pay rising 1% a year above inflation, who works 30 more years. Amounts in today’s money, 12 payments a year. Enter your own career in the calculator for your figure.
How the example is made up
National pension estimate: 43% of the average of your pay (₩4,353,489) and the average pay of all insured people (₩3,193,511) for 40 years, in proportion to your 40 years. Years before 2026 used higher rates for older periods, so your National Pension Service statement may show more. The means-tested basic pension (up to 349,700 won a month in 2026) is not included.
What your contributions buy
Over the whole career you would pay ₩99,259,553 in pension contributions (₩198,519,105 including your employer’s share). With a net pension of ₩19,471,260 a year and about 19.5 years in retirement at average life expectancy, you would receive about ₩379,689,578 in all, 3.83× your own contributions. The pension replaces 36.9% of your final net salary.
Frequently asked questions
How much pension will I get in South Korea?
In the example, ₩1,622,605 net a month (₩1,622,605 gross) when claiming at 65 after 40 years of work. Your own amount depends on your years of contributions and your pay: enter them in the calculator above.
Can I retire early in South Korea?
In the example, yes: from 60, with a lower pension (−30.0%). The net pension is ₩977,293 a month at 60 instead of ₩1,622,605 at 65. The conditions for early retirement are listed in the rules above.
What if I work longer?
The pension goes up: at 67 it would be ₩1,856,260 net a month in the example, against ₩1,622,605 at 65.
Is this my official pension?
No, it is an estimate under the 2026 rules. Your official pension statement from the pension authority in South Korea is the final word.
Rules and official sources: see “Rules applied (2026)” above. Last checked: October 2026. The amounts are estimates for information, not financial or legal advice.