국민연금 환급According to the National Pension Service in May of this year, the number of subscribers and 5 million beneficiaries exceeded 22 million in the 33 years since its establishment. In the future, the number of national pension recipients is expected to increase rapidly as the baby boomer generation begins to retire in earnest.
The biggest goal of the national pension is to guarantee retirement income for future generations. Therefore, the Pension Service must create a welfare state in which basic retirement income is guaranteed only through public pensions such as the national pension and basic pension. However, with the era of one million recipients approaching, the number of people worried about not getting their money back due to pension depletion is increasing. So, is there a way to cancel the pension early and receive it?
The national pension is a type of social insurance created domestically by introducing insurance principles. Korean citizens can receive pension from the age of 62. Benefits provided through the national pension system include old-age pension to compensate for loss of earned income due to old age, survivor’s pension for loss of income due to the death of the main earner, and disability pension for loss of long-term work ability due to illness or accident. there is.
The fund’s annual return on investment in 2019, the most recent, is 6.81%, and it remains in surplus except for 2008 and 2018. Currently, more than 4.05 million people are receiving pensions through the National Pension Service, and the accumulated funds are approximately 512 trillion won. As the national pension is an insurance managed by the government, it has the advantage of requiring relatively little money for management fees and operating expenses. In addition, it offers great benefits so that you can sign up in advance, and is well-received in that it is the most basic insurance for problems such as disability or death.
National pension can only be refunded in the form of a lump sum. There are three conditions for receiving the lump sum refund. First of all, this is when a person whose subscription period is less than 10 years turns 60. This is because you must complete 10 years of national pension contributions until the age of 60 to receive the pension from the age of 65. However, the aforementioned cases do not apply to special old-age pension recipients.
The second is when the subscriber dies but is not eligible for survivor pension. At this time, the national pension is automatically terminated and the heir can receive the principal and interest in a lump sum. Even if you lose your nationality or move abroad, you can receive the national pension as a lump sum. However, it is not refunded automatically; you must apply to receive a lump sum from the National Pension Service to receive a refund. If you do not apply within 5 years of the occurrence of this reason, you must receive the pension after maturity.
Some exceptions also exist. Even if you are currently ineligible for the national pension, if you earn income before reaching the age of 60, you will be automatically re-enrolled, so you will not be able to receive a lump sum refund immediately. According to the national pension amendment in February 2020, the income standard is a lower limit of 310,000 won and an upper limit of 4.86 million won. Additionally, if the purpose of moving abroad is for other reasons such as employment or study, you cannot receive a lump sum refund regardless of the period.
If you have received a lump sum refund upon reaching the age of 60, you cannot re-enroll in the national pension. However, if the pension cannot be paid due to insufficient subscription period upon reaching the age of 60, it is possible to continue subscription by applying for subscription according to the individual’s wish without receiving a refunded lump sum. If you receive a refunded lump sum, your subscription period expires and you cannot receive any other pension. However, when you become a national pension subscriber again, the subscription period can be restored by returning the pension with a certain amount of interest added.
If you meet the aforementioned conditions, it is possible to receive your pension back as a lump sum. However, since there is a refund period, if you do not claim the lump sum refund within this period, your right to claim it will disappear. In principle, if a claim is not made within 5 years, the statute of limitations is considered to have expired and no lump sum is given.
Accordingly, there have been 2,370 cases in the past five years in which the five-year statute of limitations for lump-sum refunds has expired, amounting to 3.3 billion won. According to the National Pension Service, it is necessary to carefully review the subscriber information guide to avoid not receiving money back due to ignorance of the lump-sum return and statute of limitations systems.
Despite its purpose of providing for the welfare of the people, the reality is that the national pension is not free from criticism and controversy. The public’s doubt, ‘Why can’t the national pension be canceled early?’ frequently appears in petitions to the Blue House. It appears that the government will have to collect public criticism from the public and come up with a realistic alternative. Although the national pension itself was created to prevent people from aging without income, this future can be viewed as an option rather than an obligation for the people.
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