Retirement calculator
National Pension Estimate Calculator
Estimate your old-age pension, and the amounts for early or deferred payment, from birth year, contribution period and average income, using 2026 rules.
Enter your values and press Calculate
Estimated old-age pension (monthly, present value)
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Age payments start
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Ratio to income
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Annual payment
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How to use
How to use the National Pension estimate calculator
Birth year and start year
Your birth year determines the age you start receiving the pension, and the year you started contributing determines the income replacement rate for each period.
Contribution period and average income
Enter your total contribution period, including the years you will still pay, and your average pre-tax monthly income over that time in today's money.
Compare early and deferred payment
A chart compares how your monthly and cumulative payments change if you take the pension up to 5 years earlier or later.
How it works
The basic pension amount of the National Pension old-age pension is calculated by adding the average income of all insured members (A value) and your own average income (B value), then multiplying by a proportional constant for the period you contributed. Because the A value is included, the lower your income, the higher the pension relative to your income, which makes it a redistributive structure.
Basic pension (annual) = proportional constant × (A + B) × (1 + 0.05 × years of contribution beyond 20) | Monthly pension = basic pension ÷ 12The proportional constant depends on when you contributed. It was 2.4 for 1988 to 1998 and 1.8 for 1999 to 2007; from 1.5 in 2008 it falls by 0.015 each year, reaching 1.245 in 2025 (income replacement rate 41.5%), and under the 2025 pension reform 1.29 (income replacement rate 43%) applies from 2026. With a contribution period of 10 years or more but less than 20, you get 50% at 10 years and 5% more for each additional year. With less than 10 years, you receive a lump-sum refund instead of a pension.
Assumptions and simplifications
The 2026 A value is KRW 3,193,511, and the standard monthly income is capped at KRW 6,590,000 and floored at KRW 410,000 (July 2026 to June 2027). The age payments start is 61 for those born 1953 to 1956, 62 for 1957 to 1960, 63 for 1961 to 1964, 64 for 1965 to 1968, and 65 for those born in 1969 or later. Early payment reduces the pension by 6% per year, up to 5 years (30%), and deferred payment increases it by 7.2% per year, up to 5 years (36%). (Source: National Pension Service notice on the 2026 upper and lower limits of standard monthly income, pension reform Q&A, checked October 2026)
The actual pension takes into account the revaluation rate that converts past income into present value, income changes during your contribution period, a separate formula for contributions made before 1998, childbirth and military service credits, dependent family pension supplements, and annual inflation adjustments. This calculator is a simple estimate that takes average income in present value and assumes a continuous contribution period. For an exact estimate, check "Find out my pension" on the National Pension Service website.
FAQ
Why is the pension a higher share of income when income is lower?
Because the average income of all insured members (A value) is included in the basic pension amount. People with below-average income receive a pension that is a higher share of their own income, and people with higher income receive a lower share.
What changed with the 2026 pension reform?
The contribution rate rises from 9% by 0.5 percentage points each year from 2026, reaching 13% in 2033, and the income replacement rate was raised to 43% from 2026. However, 43% applies only to periods contributed from 2026 onward, and earlier periods use the replacement rate of that time.
Which is better, early or deferred payment?
Deferred payment favors those who live longer, while early payment favors those who need money sooner or are worried about their health. Use the age at which the cumulative payment lines cross in the chart as your guide. You should also check that the pension can be suspended if you have a certain income while taking it early.
If I can't reach 10 years, can't I get a pension?
If your contribution period is under 10 years, you receive a lump-sum refund of the premiums you paid plus interest instead of the old-age pension. You can also reach 10 years through retroactive payment or voluntary continued enrollment.
Why does my result differ from the National Pension Service estimate?
The National Pension Service reflects your actual payment history, year-by-year revaluation rates, credits and dependent family supplements. This calculator estimates from average income and contribution period only, so the difference can be tens of thousands of won or more.
Results are estimates based on your inputs and simplified assumptions, and are for reference only, not a basis for investment decisions.
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