The National Pension is a social security system implemented in Korea to guarantee income for old age. It is compulsory for citizens between the ages of 18 and 60 to join the National Pension Scheme. If you work at a business that is not covered by the 4 major insurances, or if you are a housewife or a student with no income, you are not eligible for subscription.
You have to pay 9% of your income as insurance premiums. Of course, the employer pays for half of it, so you only have to pay 4.5%, but it’s not a small amount. In addition, young people today say that they cannot receive national pension benefits when they are old, so they will have less and less desire to continue paying.
So, is there any way to cancel the national pension? 국민연금 해지
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How to cancel the national pension 좋은뉴스
Can I cancel my national pension?
As mentioned above, the National Pension Scheme is compulsory. If you have income and have Korean nationality, you must join the National Pension Plan. Although there are a few exceptions, it can be seen that it is impossible to cancel the national pension.
How to cancel the national pension
The people who can cancel the national pension are as follows:
Those who do not reside in Korea or do not have Korean nationality
If a member of the National Pension Scheme emigrate or relocates abroad, he or she can receive the premiums paid back. If you report that you have moved abroad, you will request a lump-sum refund from the branch of the National Pension Service, and you will receive interest and a lump sum. By receiving a refund in this way, the national pension is terminated.
In principle, the beneficiary must apply for a claim in person, but if he or she has already moved abroad, a representative can visit the branch office or file a claim by mail. However, if you don’t do it yourself, the process can be a bit cumbersome, so I recommend doing it yourself if possible.
upon subscriber death
If the National Pension is not included in the bereaved family pension after the death of the subscriber, the National Pension is immediately terminated and the heir receives interest and a lump sum. [Survivor’s Pension] is a system that allows surviving family members to live when a National Pension subscriber dies, or a recipient of a disability pension with a disability level 2 or higher or an old-age pension recipient dies.
If the period of contribution to the national pension is less than 10 years and you reach the age of 60,
The national pension is required to fill the minimum payment period of 10 years until the age of 60. Only then can you receive the national pension from the age of 65. Yes. If you have reached the age of 60 without completing the minimum payment period of 10 years, you will receive a payment in the year you turn 60 with an amount including interest.