The national pension is mandatory for almost all office workers under the four major insurance items. We hear people saying that the national pension will be depleted in the future, and there are many opinions that we should pay the pension because it is essential in retirement. Still, as much of the population is aging, the national pension is essential for preparing for retirement. Today, we will analyze how to check your expected national pension amount and the age at which you will receive it. The National Pension is a social security system that aims to contribute to the people’s livelihood and welfare by providing pension benefits for people’s old age, disability, and death.
By paying insurance premiums when you have income, we help you maintain your basic livelihood when you no longer have income-earning activities due to retirement, accident, disease, death, etc. If you are an economically active worker under the age of 18 or 60, you can receive a pension through mandatory subscription. It is a savings system.
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Check the expected national pension amount
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I will inform you of the eligibility requirements for the early old-age pension. Additional payment methodWhat is the age for receiving the national pension? Up to how many years can the deferred pension be extended? Summary of content Summary of the contents Frequently asked questions When can I apply for the early old-age pension? Additional payment method Old-age pension eligibility article Referenceable articles
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I will inform you of the eligibility requirements for early old age pension.
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The early old-age pension is paid when the subscriber reaches the age to receive the national pension and is unable to engage in income-earning activities. If you have been enrolled in the National Pension for more than 10 years and reach the age at which payments can be made, you can receive monthly payments for the rest of your life. The eligibility requirements for the early old-age pension are that the national pension subscription period is 10 years or more and 120 months. The average monthly income must be below a certain level to be eligible.
Early old age pension eligibility requirements
Additional payment method
National pension can be paid until age 65 using the voluntary continuous subscription system. Some people are confused about voluntary subscription, but this is a system that allows housewives who did not work and lived as caregivers to contribute up to age 60, so the age at which contributions can be made does not increase. The only system that allows you to extend payments until age 65 is the voluntary continuous subscription system. Anyone with enough money can apply and add more money, so there is nothing difficult about it.
As of 2023, to name a few things, in order to receive a monthly pension of 1 million won, you will need to continuously contribute an average monthly income of about 3.7 million won for 30 years. To receive a monthly pension of 1.5 million won, you must contribute without stopping for 40 years with an average monthly income of 4.6 million won. In other words, the more people who only sell Korean beef during their work life, the more pension benefits they can enjoy.
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What is the national pension age?
After signing up for the national pension, you can receive old-age pension when you reach the age of eligibility. However, only those who have signed up for the National Pension and paid National Pension premiums for at least 10 years can receive it. The age at which you can receive national pension varies depending on your year of birth. Please check the detailed national pension age in the table below.
You can receive national pension from at least 60 years of age. Some people receive benefits before the age of 60 by applying for early receipt for personal reasons.
However, if you receive it early, it is more than the amount you can receive at age 60. You will receive less. Like this, the amount of national salt money you can receive varies depending on your age. Before specifying the national pension age, we recommend that you check the amount of national pension you can receive and then make a decision.
How many years can the deferred pension be extended?
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If you have reached the age of 60 but want to receive the national pension later because you have income, you can increase the amount by delaying the starting age. The pension amount is added by 0.6 per year, but it is said that you can receive 36 more by delaying it for 5 years. It is said that you can apply to postpone the national pension age for up to 5 years only once. The timing of receiving the national pension is also higher than the standard monthly income amount set by the national pension.
Summary of contents and summary
For those born in 1960, the age to receive the national pension is 62. If the subscription period is less than 10 years or to receive more pension, you can voluntarily continue to subscribe and pay until the age of 65. For the expected amount of your old-age pension, visit the National Pension Service website. You can check this by using this post. This is a good post to know. We have informed you about the time and year of receiving national pension for those born in 1960, the year of payment, etc. Thanks for reading.
frequently asked questions
When can I apply for early old-age pension?
Early old-age pension is paid when the subscriber reaches the age of receiving national pension and is unable to engage in income-earning activities. If the subscriber has been enrolled in the national pension for more than 10 years and is over the payment start age, the pension can be paid monthly for the rest of his life. Eligibility requirements for early old-age pension National pension Those with a subscription period of at least 10 years and 120 months are eligible. The average monthly income must be below a certain level. However, if you have any questions about the national pension age by year of birth, please refer to the text.
Additional payment method
You can use the voluntary continuous subscription system to pay until age 65. If you have any questions, please refer to the text.
Old age pension eligibility age
After signing up for the national pension, you can receive old-age pension when you reach the age of eligibility. Please refer to the text for more information.
Source: https://informationlife.tistory.com/534 [Red Army Life Information: Tistory]