Korea Pension Savings & IRP Tax Credit Calculator

Credit on up to ₩9M a year · 16.5% (salary ≤ ₩55M) or 13.2%

Input

Gross salary excl. non-taxable (₩)

Pension savings paid this year (₩)

IRP paid this year (your part, ₩)

ISA maturity money moved to pension (₩, optional)

Result

How it works

Korean residents who pay income tax (foreign workers included) can claim this credit at year-end settlement (연말정산).
Limits: pension savings ₩6M, pension savings + IRP ₩9M a year.
Credit: 16.5% if gross salary is ₩55M or less, otherwise 13.2%. You only get back up to the tax you owe.
Taking the money out other than as a pension (for example, closing the account before 55) is taxed 16.5% on the credited contributions and investment gains, with some legal exceptions — check before leaving Korea.

FAQ

How much do I get back for ₩9M in pension savings and IRP?

₩1,485,000 (16.5%) if your salary is ₩55M or less, ₩1,188,000 (13.2%) if higher.