How the refund works
Every month, 9.5% of your salary (2026 rate) goes to the National Pension Service: 4.75% from your pay and 4.75% from your employer. The rate was 9% until 2025 and rises by 0.5 percentage points each year until it reaches 13% in 2033. When an eligible foreigner leaves Korea for good, NPS pays back both halves plus interest calculated at the three-year time deposit rate.
Refund ≈ monthly salary × contribution rate × months + interest
The salary used for contributions is capped: from July 2026 it is at least ₩410,000 and at most ₩6,590,000 a month, so a higher salary gets the same refund as ₩6.59 million.
Who can get the lump-sum refund
- Citizens of countries whose pension law gives Koreans the same right (reciprocity), or whose social security agreement with Korea includes a lump-sum refund clause. This covers many countries, including the United States, Canada and Australia.
- Holders of E-8, E-9 and H-2 visas, regardless of nationality.
- Some nationalities cannot get a lump sum but have their Korean periods counted toward a pension at home instead. Check your country on the NPS website before you leave.
How to claim
- Prepare your passport, alien registration card, flight ticket (or proof of departure) and a bank account to receive the money.
- Apply at an NPS branch office, or at the NPS counter at Incheon or Gimhae airport on the day you leave.
- The refund is usually paid within a few weeks to a Korean or overseas account.
Frequently asked questions
Is the pension refund taxed?
No. The national pension lump-sum refund is not subject to Korean income tax.
Can I apply from abroad after I leave?
Yes. You can send the application to NPS with a copy of your passport and proof of departure, but applying at the airport is the fastest.
Why is my real refund different?
NPS uses the exact salary reported each month and its own interest rates by year. This calculator assumes a constant salary and about 3% interest, so treat it as an estimate.