연금복권 실수령액How much is the actual amount for lotto and pension lottery?
A lottery is a ticket issued to collect money from a large number of people and pay the prize money to a winner determined through a lottery. There are various lotteries in Korea, but the ones that most people purchase are the lotto and pension lottery. I also buy it often 🙂
In this article, we will summarize the method of calculating the actual amount of lottery and pension lottery, which are representative lotteries.
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Lotto is a lottery with no limit on the maximum winning amount, and its official name is ‘Online Joint Lottery’. In Korea, it started in December 2002, and from December 2, 2018, the lotto consignment business was changed from Nanum Lotto to Donghaeng Lottery.
Lotto tickets cost 1,000 won per game, and generally, asking for one lottery ticket means paying 5,000 won. It is sold 24/7, 365 days a year, but sales are suspended from 8 PM on the day of the draw (Saturday) to 6 AM the next day (Sunday).
Lotto actual winnings and winnings are determined by sales volume. The prize money for 1st, 2nd, and 3rd place is not fixed and is determined by the total sales amount for that round. The winnings will be paid in a lump sum, and prizes exceeding 2 million won must be received in person at a Nonghyup Bank branch for 3rd to 1st place winners.
To find out the actual lottery winnings, you must first understand the concept of taxes and fees. Taxes and fees are costs borne by the acquirer at the time of acquisition. Below, we will look at the formula for calculating the actual lottery winnings.
Please refer to the following for your reference as we have organized the actual lotto winnings according to the winning range.
Unlike the lottery, the pension lottery is a lottery that is paid out in monthly installments over a period of time rather than a lump sum like a real ‘pension’. Sales began in Korea on July 1, 2011. With the launch of Pension Lottery 720+ from May 2020, the previously sold Pension Lottery 520+ has been abolished.
The pension lottery pays out 7 million won per month for 20 years based on the first place winner. If the winner dies during the winning period, the remaining winnings will be inherited according to civil law. The odds of winning are about 1.6 times higher than the lottery, and if you purchase all 5 groups with the same number, but the group is different from the 1st prize winning number, you will win both 1st and 2nd prizes.
A 33% tax rate is applied when receiving a large amount of winnings exceeding 300 million won at once, such as in the lottery, but a 22% tax rate is applied to the first prize in the pension lottery because it is based on winnings paid monthly. Therefore, there is an advantage that the actual amount of pension lottery is higher compared to the lottery.
Below, we will calculate the actual pension lottery amount for each rank.
So far, we have learned how to calculate the lottery actual amount and the pension lottery actual amount.
Everyone buys a lottery ticket and imagines that they wish they would win this week. However, even if you win, you may be a little disappointed because you will be taxed more than you expected. Please do not forget that taxes are levied on all temporarily acquired amounts, and please refer to the lotto and pension lottery actual receipts that we announced today.
I will come back with a more useful article next time 🙂
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