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Pension questions

South Korea pension questions

These are the questions people search about a pension left in South Korea. Each page answers its question in the first two sentences, and we show those two sentences below, read from the official source with the date we read it. We identify where a pension is likely held and the route to it. We do not give advice.

English

  • Can foreigners get a Korean pension refund?

    Departing foreigners are instead paid a lump sum refund of contributions plus interest, set by the three year fixed deposit rate, but only if their nationality qualifies. NPS pays a lump sum refund only where your country grants Korean nationals an equivalent benefit, or an agreement covering lump sum refunds exists, or you held an E-8, E-9 or H-2 visa.

    • Source: nps.or.kr, moel.go.kr, law.go.kr, read 4 October 2026
    • Source: nps.or.kr, read 4 October 2026

  • Do foreigners get a Korean national pension?

    Work a few years in South Korea and 9 per cent of your monthly base income went to the National Pension Service, half from you and half from your employer. A pension needs ten years of coverage; under ten years and nothing is payable monthly.

    • Source: nps.or.kr, moel.go.kr, law.go.kr, read 4 October 2026

  • Do foreigners get severance pay in Korea?

    Separately, your employer or a financial institution still holds your severance, at least thirty days of average wage for each year of continuous service. The right to severance pay under the Employee Retirement Benefit Security Act expires after three years without exercise.

    • Source: nps.or.kr, moel.go.kr, law.go.kr, read 4 October 2026
    • Source: law.go.kr, read 4 October 2026

  • How do I apply for the Korean pension refund?

    Since 29 Aug 2007 the refund on grounds of returning home is paid only once departure is confirmed; an application may be lodged before departure with proof of departure within one month. Application is in person by default, and documents signed abroad need notarisation plus Korean consular attestation.

    • Source: nps.or.kr, read 1 September 2026
    • Source: nps.or.kr, read 4 October 2026

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