The basic pension is a pension given to senior citizens aged 65 or older and living in Korea whose household income is below the selection criteria.As of this year, about 5.95 million people are receiving basic pensions.
What is a basic pension?
The basic pension is a pension given to senior citizens aged 65 or older who live in Korea with Korean nationality and whose income recognition is below the selection criteria.Basic pensions are provided to help the elderly live a comfortable retirement life and distribute pension benefits fairly.
<Receipts>
65 years of age or older
A Korean citizen and a resident of Korea.
(Selection base amount as of 22 years) Single households 1.8 million won (2,88 million won for married households) or less
National Pension Service income of 461,250 won or less
<Exclusion target>
Beneficiaries of the “Public Officials Pension, Private School Teachers’ Pension, Military Pension, Special Post Office Pension” and their spouses
기초연금 선정기준액 표
method of calculating the recognized income
Income recognition amount = Income valuation + income conversion amount of property
EX) Single households / With monthly earned income of 2 million won / With monthly national pension of 300,000 won
■ Monthly income evaluation = 0.7 x (2 million won – 1.03 million won) + 300,000 won = 979 million won
It is not easy to obtain the income recognition method directly.
Therefore, it is recommended to calculate the income calculation by accessing the site created by the country.
1. Accessing the site through welfare
< https://www.bokjiro.go.kr >
2. Welfare Services – Simulated Calculation – Basic Pension
3. Input basic information, input income information, input property information
4. View Results
amount paid
Up to 307,500 won per month will be paid from January to December 2022.
In the case of married households, up to 492,000 won will be paid, not up to 600,000 won, because each household is reduced by 20% and added up.
Single-family: KRW 307,500/month
Married households: 492,000 won/month
application method
1. Online Application
2. Visiting the branch office of the National Pension Service
3. Visiting a community center near your residence
<Jun>Non-Western >
identification card
bankbook copy in one’s name
Spouse’s consent to provide financial information, etc.
lease agreement (only applicable)