Total summary of 3 ways to cancel the national pension! (ft. apply)
I’ve heard a lot about the national pension being depleted. Although various reform proposals are coming out, it seems that the people who pay the national pension have a strong desire to just not pay and receive it.
As it is covered in many news articles, it is said that it will be depleted by 2055, so of course I think so. Me too! There are various methods such as raising the pension and raising the age of pension recipients as reform plans, but it is truly despairing that the insurance premium rate that should be raised will double.
As prices rise so much as now, the burden on us is great, and when the national pension is raised, it is even more difficult for us. The currency value is also falling, but I think it is wiser to put money in other assets after receiving the national pension at once. If you look at the rate of return on the stock operation of the National Pension Service…
People are interested in this situation. Is there any way to cancel it?
Let’s find out.
First of all, I need to find out how much I put in the national pension before entering. This is because I can think about whether the conditions have been met, how much I can receive, and whether there are other ways.
How to look up is simple.
Log in with a simple certificate > View subscription details > Check total payment details
If you want to see more of my expected pension here, go down to the bottom and click on the expected pension details.
In fact, no one will check every month how much they have paid. I didn’t know how much I paid, but it was quite a lot. I want to get rid of that and buy real estate…
The inquiry method is simple, so please go in and check the national pension payment amount.
Let’s find out now.
How to cancel the national pension
First, you need to clarify terminology. The term “lump-sum refund” is used to terminate the national pension. If you think of canceling your pension and receiving it as a lump sum, you won’t be confused.
It must be included in one of these three conditions. Because you need to know how long the subscription period is, as mentioned above, it is good to check your total payment details once.
1. Less than 10 years of subscription, 60 years of age
When the period of participation in the national pension is less than 10 years and the person reaches the age of 60, a lump-sum refund is paid and the national pension is terminated.
The lump-sum refund is given by adding interest to the premiums paid so far, and the interest rate fluctuates every year.
The interest rate in 2023 is 3.5%
2. If there are no survivors
When a member of the national pension dies, it is easy to think of it. If there are no survivors (direct family members of me and my spouse), the pension is paid as a lump sum upon death, and if there is, the pension is handed over to the survivors.
*Lump-sum death benefit is paid to the person with the highest priority among collateral blood relatives within the fourth degree of relationship who were living by the deceased.
3. Loss of nationality, emigration
Since the National Pension is basically a pension system for the citizens of the Republic of Korea, the National Pension is terminated if you lose your nationality or become a non-citizen due to emigration. If you are preparing for immigration, you must go to the National Pension Service and take a lump sum! Because there is a payment deadline (5 years), don’t forget to take it!
●National Pension Lump-sum Refund Recipient Age
The age of receiving the lump-sum refund is as follows. You can receive a lump-sum refund when your age is raised and you reach the above age.
but!!!
According to Article 8-3 of the National Pension Act (Special Cases Regarding Age of Payment of Lump-Sum Refund)
After reaching the age of 60, you can receive benefits if you wish, even before you reach the relevant payment age!
How to apply for lump-sum refund of national pension
Apply for the National Pension Service branch office or on-site pension service
Call or Fax Billing
postal billing
Internet claim through homepage (for those over 60 years of age)