{"content_id":"nahqvpgyol","slug":"korea-four-layer-retirement-pension-strategy","locale":"en","schema_type":"Article","category":"how_to","category_name":"How-to","title":"When to Claim the National Pension and How to Build a Four-Tier Retirement Pension Plan","summary":"Rather than always claiming the National Pension early or late, consider your health, income, assets, and life expectancy together. Building four tiers with the National Pension, retirement pension, personal pension, and reverse mortgage can reduce longevity risk and the risk of exhausting lump-sum assets.","author":{"name":"Injoys Editorial Team","url":"https://injoys.com/ko/about"},"key_points":["Claiming the National Pension 5 years early reduces the monthly benefit by 30%, while deferring it for 5 years increases it by 36%.","The break-even points for early, normal, and deferred claims vary depending on the options compared and the assumptions used, so the decision should not be based solely on age 80.","For National Pension make-up contributions, you must verify the eligible periods and application requirements, and the entire amount paid is not simply refunded.","Receiving retirement benefits from an IRP as a pension can reduce the retirement income tax burden compared with taking a lump sum.","The key to retirement planning is creating sustainable monthly cash flow that covers essential living expenses, rather than focusing on total assets."],"content_markdown":"There is no single right answer for everyone when it comes to when to receive the National Pension. Deferred pension benefits are likely to be more advantageous the longer you live, but if you are in poor health or lack sufficient living expenses immediately after retirement, early receipt may have greater practical value.\n\nTherefore, do not evaluate the National Pension in isolation. You should design your monthly cash flow after retirement by linking it with your retirement pension, private pension, and reverse mortgage pension. The amounts and break-even points in this article are examples intended to aid understanding. Before making an actual decision, you should check your estimated pension through the National Pension Service and verify the tax implications.\n\n## 1. At What Age Can You Start Receiving the National Pension?\n\nThe statutory commencement age for old-age pension benefits gradually increases according to year of birth.\n\n| Year of birth | Normal old-age pension commencement age |\n|---|---:|\n| 1952 or earlier | Age 60 |\n| 1953–1956 | Age 61 |\n| 1957–1960 | Age 62 |\n| 1961–1964 | Age 63 |\n| 1965–1968 | Age 64 |\n| 1969 or later | Age 65 |\n\nIf you meet the eligibility requirements, including the required contribution period, you may apply for an early old-age pension up to 5 years before the normal commencement age or defer payments for up to 5 years.\n\n## 2. Comparison of Early and Deferred Old-Age Pensions\n\n| Category | Early old-age pension | Normal receipt | Deferred pension |\n|---|---|---|---|\n| Starting point | Up to 5 years earlier | Statutory commencement age | Up to 5 years later |\n| Monthly pension adjustment | Reduced by 0.5% per month | No adjustment | Increased by 0.6% per month |\n| Effect of 1-year adjustment | 6% reduction | None | 7.2% increase |\n| Effect of 5-year adjustment | 30% reduction | None | 36% increase |\n| Main factors to consider | Income gap, health, short-term living expenses | Balanced choice | Likelihood of longevity, other sources of living expenses |\n\nAssuming the normal monthly pension is KRW 1 million, receiving it 5 years early would provide approximately KRW 700,000 per month, while deferring it for 5 years would provide approximately KRW 1.36 million per month. These reductions and increases are not temporary adjustments; they continue to be reflected in subsequent pension payments.\n\n### Early receipt does not simply require having no income at all\n\nTo receive an early old-age pension, you must satisfy the relevant requirements, such as not being engaged in “income-earning activities” as defined by law. Because the applicable income threshold may change each year, anyone with earned or business income should confirm eligibility with the National Pension Service.\n\n### You can defer all or part of your pension\n\nA beneficiary may choose to defer not only the full old-age pension but also a specified percentage of it. If you need some cash during the early years of retirement, you can consider combining partial receipt with partial deferral instead of postponing the entire pension.\n\n## 3. When Does the Total Amount Received Reverse?\n\nThe following calculations are simplified comparisons that set the normal monthly pension amount at 100 and exclude taxes, survivor’s pensions, investment returns, and payment restrictions based on income.\n\n| Comparison | Simple break-even age |\n|---|---:|\n| Receipt 5 years early vs. normal receipt | Approximately age 76 years and 8 months |\n| Receipt 5 years early vs. receipt deferred by 5 years | Approximately age 80 years and 4 months |\n| Normal receipt vs. receipt deferred by 5 years | Approximately age 83 years and 11 months |\n\nTherefore, the statement that “deferring receipt is always advantageous if you live beyond age 80” omits the basis of comparison. When comparing receipt 5 years early with receipt deferred by 5 years, approximately age 80 may be the benchmark. However, when comparing normal receipt with a 5-year deferral, the break-even point comes later.\n\nThe National Pension adjusts pension amounts to reflect changes in consumer prices. However, under the simplified assumption that the same inflation adjustment rate applies to early, normal, and deferred pensions, the relative amounts do not automatically diverge exponentially. The actual advantages and disadvantages must be assessed by considering each person’s pension amount, taxes, time of death, and the spouse’s potential eligibility for a survivor’s pension.\n\n## 4. National Pension Receipt Timing Decision Table\n\n### Situations in which early receipt should be considered first\n\n- You lack other income or assets to cover essential living expenses immediately after retirement.\n- You reasonably expect a shorter life expectancy due to poor health or family medical history.\n- Your debt interest burden is high, making it preferable to secure immediate cash flow.\n- You meet the income requirements for an early old-age pension.\n\n### Situations in which deferred receipt should be considered first\n\n- You can cover living expenses during the deferral period with earned income, a retirement pension, or financial assets.\n- You are in good health and want to prepare for longevity risk.\n- You want to increase the share of your income provided by a lifelong public pension rather than relying on investments subject to volatility.\n- You can coordinate cash flow during the early and later stages of retirement by combining your pension with your spouse’s pension.\n\n### Situations in which normal receipt is reasonable\n\n- Drawing on assets to cover living expenses during the deferral period would be burdensome.\n- Your situation is not urgent enough to require early receipt, but you also lack the capacity to defer for a long period.\n- It is difficult to assess your health and life expectancy, and you want a neutral option.\n\nYou should not decide to receive your pension early based solely on rumors about the fund’s finances or short-term news. Any potential changes to the system should be confirmed through official laws and guidance from the National Pension Service.\n\n## 5. Effects and Precautions of Retroactive National Pension Contributions\n\nRetroactive contributions are not a system that allows you to voluntarily pay all unpaid premiums from the past. The law specifies eligible periods, such as periods excluded from National Pension coverage, and you must meet requirements such as having eligible enrollment status at the time of application.\n\n### Why retroactive contributions may be useful\n\n- They can increase your contribution period and help you qualify for old-age pension benefits.\n- Your estimated old-age pension amount may increase as your contribution period increases.\n- National Pension premiums paid by you may qualify for a pension premium deduction when calculating income tax.\n\n### How much will be refunded if you pay KRW 10 million?\n\nPaying KRW 10 million in retroactive premiums does not mean that KRW 10 million or a fixed percentage will automatically be refunded. The tax-saving effect varies depending on your taxable income before deductions, applicable tax rate, income for the relevant year, and other deductions.\n\nFor example, the higher the marginal tax rate applied to the taxable income reduced by the deduction, the greater the potential tax reduction. Conversely, if you have little taxable income, the refund effect may be small or nonexistent. Before applying to make retroactive contributions, you should check the following:\n\n1. The eligible retroactive contribution period and premium amount\n2. The estimated increase in your monthly pension after making retroactive contributions\n3. The terms for lump-sum and installment payments\n4. The actual income deduction effect for the relevant year\n5. The opportunity cost of using the funds to repay other debts or manage retirement assets instead\n\n## 6. Building Retirement Cash Flow with a Four-Tier Pension Structure\n\n| Tier | System | Core role | Main risks or matters to check |\n|---|---|---|---|\n| Tier 1 | National Pension | Lifelong public pension that can reflect inflation | Receipt timing, contribution period, life expectancy |\n| Tier 2 | Retirement pension·IRP | Long-term management and phased withdrawal of retirement assets | Investment losses, fees, restrictions on early withdrawals |\n| Tier 3 | Pension savings·pension insurance | Tax benefits and supplementation of individual retirement funds | Differences in taxes, costs, and guarantee terms by product |\n| Tier 4 | Reverse mortgage pension | Conversion of housing assets into lifelong cash flow while continuing to reside in the home | Enrollment age, home value, payment method |\n\n### Tier 1: National Pension\n\nThe National Pension is the basic line of defense in retirement, but benefit amounts vary significantly depending on each person’s contribution period and standard monthly income. Do not estimate your pension based solely on a specific income replacement rate. You should directly check your estimated pension amount with the National Pension Service.\n\n### Tier 2: Retirement Pension and IRP\n\nIf you receive your retirement benefits as a pension from an IRP rather than withdrawing them as a lump sum, your retirement income tax may be lower than for a lump-sum payment. The actual tax varies depending on the pension receipt requirements, the number of years over which it is received, and the source of the withdrawn funds. Personal contributions that received tax credits and their investment earnings may be taxed differently from funds originating from retirement benefits.\n\nWhen managing an IRP, you should consider not only expected returns but also the time remaining until retirement and your ability to tolerate losses. As retirement approaches, it is reasonable to move money that will soon be needed for living expenses into less volatile assets, such as deposits and short-term bonds, while diversifying only long-term funds.\n\nA fixed formula such as “KRW 200 million is enough to receive KRW 1 million per month” is risky. Withdrawing KRW 12 million annually from KRW 200 million produces an initial annual withdrawal rate of 6%, so the funds may be depleted early depending on returns, fees, inflation, and the withdrawal period. Under a simple calculation intended to preserve the principal over a long period, approximately KRW 400 million would be needed at an annual withdrawal rate of 3%, while approximately KRW 300 million would be needed at an annual withdrawal rate of 4%. However, these figures are not benchmarks that guarantee returns.\n\n### Tier 3: Pension Savings, Individual IRP, and Pension Insurance\n\nContributions to pension savings and individual IRPs may qualify for tax credits within statutory limits. In general, the tax-credit limit for pension savings differs from the combined limit for pension savings and IRPs, so you should distinguish the order in which contributions are made to the two accounts. The tax-credit rate varies according to income level, and taxes may be imposed upon early termination or receipt in a form other than a pension.\n\nTax exemption for pension insurance does not automatically apply to every product. To receive a tax exemption on insurance gains, you must meet tax-law requirements concerning matters such as the contract maintenance period, payment method, and premium limit. “Tax exemption” and “guaranteed principal or rate of return” are also separate concepts, so you should review the policy terms individually.\n\n### Tier 4: Reverse Mortgage Pension\n\nA reverse mortgage pension allows you to receive monthly pension payments while continuing to live in your home after providing it as collateral. General eligibility criteria include several conditions, such as the age of either spouse and the combined officially assessed value of the couple’s homes. The currently prevalent criteria require at least one spouse to be age 55 or older and the combined officially assessed value to be at most KRW 1.2 billion, but additional detailed requirements based on the number and types of homes must also be checked.\n\nThe monthly payment is determined by the age of the applicant or spouse, recognized home value, payment type, guarantee method, and the standards in effect at that time. Therefore, “KRW 300,000 per month for every KRW 100 million of home value at age 70” is only a rough example under specific conditions and is not a formula that applies to every applicant.\n\nWhen the home is sold and the account is settled, any amount remaining after repayment of pension payments and guarantee-related amounts goes to the heirs. Conversely, even if the settlement amount exceeds the proceeds from selling the home, an important advantage is its non-recourse structure, under which the shortfall is generally not separately claimed from the heirs.\n\n## 7. A KRW 1 Billion Lump Sum and KRW 3 Million per Month Cannot Be Compared Directly\n\nReceiving KRW 3 million per month in nominal terms for approximately 27 years and 9 months results in a cumulative amount of KRW 1 billion. However, a lump sum and a lifelong pension have different characteristics.\n\n- A lump sum offers greater liquidity and inheritance potential, but it carries the risks of investment losses, fraud, overspending, and depletion due to longevity.\n- A lifelong pension provides longevity insurance by making payments until death, but it may offer less flexibility in using or passing on the funds.\n- As prices rise, the real purchasing power of a fixed KRW 3 million monthly payment declines.\n- A pension that reflects price changes, such as the National Pension, has a different value from a fixed-amount private pension.\n\nThe most stable approach is not to choose only one of the two. Instead, essential living expenses should be covered by the National Pension and lifelong cash flow, while irregular expenses such as medical costs, home repairs, and family support should be prepared for with separate financial assets.\n\n## 8. Implementation Steps\n\n1. Each spouse checks their estimated National Pension amount and normal commencement age.\n2. Compare monthly benefit amounts and break-even ages under scenarios involving early, normal, and 1–5 years of deferred receipt.\n3. Separate essential living expenses from discretionary living expenses after retirement.\n4. Check the taxes, fees, and expected withdrawal periods associated with retirement pensions and pension savings.\n5. Assess whether funds will be depleted under separate assumptions of surviving to ages 80, 90, and 100.\n6. If you plan to keep your home, check the estimated monthly reverse mortgage pension payment.\n7. Keep at least 1–2 years’ worth of essential living expenses in low-volatility assets that can be withdrawn easily.\n8. After securing essential living expenses through pensions, invest only the remaining long-term funds according to your risk tolerance.\n\n## Conclusion\n\nThe National Pension is not a system that must “always” be claimed at age 65 or any other specific age. Early receipt addresses cash-flow gaps, while deferred receipt increases the monthly pension amount to prepare for longevity. Which option is more advantageous depends on your health, life expectancy, spouse’s pension, taxes, assets, and post-retirement income.\n\nStable retirement planning is not about identifying a single correct time to receive the National Pension. The key is to build a four-tier structure: use the National Pension to cover basic living expenses, fill any gaps with retirement and private pensions, and convert housing assets into cash flow through a reverse mortgage pension when necessary.","content_html":"\u003cp\u003eThere is no single right answer for everyone when it comes to when to receive the National Pension. Deferred pension benefits are likely to be more advantageous the longer you live, but if you are in poor health or lack sufficient living expenses immediately after retirement, early receipt may have greater practical value.\u003c/p\u003e\n\u003cp\u003eTherefore, do not evaluate the National Pension in isolation. You should design your monthly cash flow after retirement by linking it with your retirement pension, private pension, and reverse mortgage pension. The amounts and break-even points in this article are examples intended to aid understanding. Before making an actual decision, you should check your estimated pension through the National Pension Service and verify the tax implications.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#1-at-what-age-can-you-start-receiving-the-national-pension\" class=\"anchor\" id=\"1-at-what-age-can-you-start-receiving-the-national-pension\"\u003e\u003c/a\u003e1. At What Age Can You Start Receiving the National Pension?\u003c/h2\u003e\n\u003cp\u003eThe statutory commencement age for old-age pension benefits gradually increases according to year of birth.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eYear of birth\u003c/th\u003e\n\u003cth\u003eNormal old-age pension commencement age\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Year of birth\"\u003e1952 or earlier\u003c/td\u003e\n\u003ctd data-label=\"Normal old-age pension commencement age\"\u003eAge 60\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Year of birth\"\u003e1953–1956\u003c/td\u003e\n\u003ctd data-label=\"Normal old-age pension commencement age\"\u003eAge 61\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Year of birth\"\u003e1957–1960\u003c/td\u003e\n\u003ctd data-label=\"Normal old-age pension commencement age\"\u003eAge 62\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Year of birth\"\u003e1961–1964\u003c/td\u003e\n\u003ctd data-label=\"Normal old-age pension commencement age\"\u003eAge 63\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Year of birth\"\u003e1965–1968\u003c/td\u003e\n\u003ctd data-label=\"Normal old-age pension commencement age\"\u003eAge 64\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Year of birth\"\u003e1969 or later\u003c/td\u003e\n\u003ctd data-label=\"Normal old-age pension commencement age\"\u003eAge 65\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eIf you meet the eligibility requirements, including the required contribution period, you may apply for an early old-age pension up to 5 years before the normal commencement age or defer payments for up to 5 years.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#2-comparison-of-early-and-deferred-old-age-pensions\" class=\"anchor\" id=\"2-comparison-of-early-and-deferred-old-age-pensions\"\u003e\u003c/a\u003e2. Comparison of Early and Deferred Old-Age Pensions\u003c/h2\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eCategory\u003c/th\u003e\n\u003cth\u003eEarly old-age pension\u003c/th\u003e\n\u003cth\u003eNormal receipt\u003c/th\u003e\n\u003cth\u003eDeferred pension\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eStarting point\u003c/td\u003e\n\u003ctd data-label=\"Early old-age pension\"\u003eUp to 5 years earlier\u003c/td\u003e\n\u003ctd data-label=\"Normal receipt\"\u003eStatutory commencement age\u003c/td\u003e\n\u003ctd data-label=\"Deferred pension\"\u003eUp to 5 years later\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eMonthly pension adjustment\u003c/td\u003e\n\u003ctd data-label=\"Early old-age pension\"\u003eReduced by 0.5% per month\u003c/td\u003e\n\u003ctd data-label=\"Normal receipt\"\u003eNo adjustment\u003c/td\u003e\n\u003ctd data-label=\"Deferred pension\"\u003eIncreased by 0.6% per month\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eEffect of 1-year adjustment\u003c/td\u003e\n\u003ctd data-label=\"Early old-age pension\"\u003e6% reduction\u003c/td\u003e\n\u003ctd data-label=\"Normal receipt\"\u003eNone\u003c/td\u003e\n\u003ctd data-label=\"Deferred pension\"\u003e7.2% increase\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eEffect of 5-year adjustment\u003c/td\u003e\n\u003ctd data-label=\"Early old-age pension\"\u003e30% reduction\u003c/td\u003e\n\u003ctd data-label=\"Normal receipt\"\u003eNone\u003c/td\u003e\n\u003ctd data-label=\"Deferred pension\"\u003e36% increase\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Category\"\u003eMain factors to consider\u003c/td\u003e\n\u003ctd data-label=\"Early old-age pension\"\u003eIncome gap, health, short-term living expenses\u003c/td\u003e\n\u003ctd data-label=\"Normal receipt\"\u003eBalanced choice\u003c/td\u003e\n\u003ctd data-label=\"Deferred pension\"\u003eLikelihood of longevity, other sources of living expenses\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eAssuming the normal monthly pension is KRW 1 million, receiving it 5 years early would provide approximately KRW 700,000 per month, while deferring it for 5 years would provide approximately KRW 1.36 million per month. These reductions and increases are not temporary adjustments; they continue to be reflected in subsequent pension payments.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#early-receipt-does-not-simply-require-having-no-income-at-all\" class=\"anchor\" id=\"early-receipt-does-not-simply-require-having-no-income-at-all\"\u003e\u003c/a\u003eEarly receipt does not simply require having no income at all\u003c/h3\u003e\n\u003cp\u003eTo receive an early old-age pension, you must satisfy the relevant requirements, such as not being engaged in “income-earning activities” as defined by law. Because the applicable income threshold may change each year, anyone with earned or business income should confirm eligibility with the National Pension Service.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#you-can-defer-all-or-part-of-your-pension\" class=\"anchor\" id=\"you-can-defer-all-or-part-of-your-pension\"\u003e\u003c/a\u003eYou can defer all or part of your pension\u003c/h3\u003e\n\u003cp\u003eA beneficiary may choose to defer not only the full old-age pension but also a specified percentage of it. If you need some cash during the early years of retirement, you can consider combining partial receipt with partial deferral instead of postponing the entire pension.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#3-when-does-the-total-amount-received-reverse\" class=\"anchor\" id=\"3-when-does-the-total-amount-received-reverse\"\u003e\u003c/a\u003e3. When Does the Total Amount Received Reverse?\u003c/h2\u003e\n\u003cp\u003eThe following calculations are simplified comparisons that set the normal monthly pension amount at 100 and exclude taxes, survivor’s pensions, investment returns, and payment restrictions based on income.\u003c/p\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eComparison\u003c/th\u003e\n\u003cth\u003eSimple break-even age\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Comparison\"\u003eReceipt 5 years early vs. normal receipt\u003c/td\u003e\n\u003ctd data-label=\"Simple break-even age\"\u003eApproximately age 76 years and 8 months\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Comparison\"\u003eReceipt 5 years early vs. receipt deferred by 5 years\u003c/td\u003e\n\u003ctd data-label=\"Simple break-even age\"\u003eApproximately age 80 years and 4 months\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Comparison\"\u003eNormal receipt vs. receipt deferred by 5 years\u003c/td\u003e\n\u003ctd data-label=\"Simple break-even age\"\u003eApproximately age 83 years and 11 months\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003cp\u003eTherefore, the statement that “deferring receipt is always advantageous if you live beyond age 80” omits the basis of comparison. When comparing receipt 5 years early with receipt deferred by 5 years, approximately age 80 may be the benchmark. However, when comparing normal receipt with a 5-year deferral, the break-even point comes later.\u003c/p\u003e\n\u003cp\u003eThe National Pension adjusts pension amounts to reflect changes in consumer prices. However, under the simplified assumption that the same inflation adjustment rate applies to early, normal, and deferred pensions, the relative amounts do not automatically diverge exponentially. The actual advantages and disadvantages must be assessed by considering each person’s pension amount, taxes, time of death, and the spouse’s potential eligibility for a survivor’s pension.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#4-national-pension-receipt-timing-decision-table\" class=\"anchor\" id=\"4-national-pension-receipt-timing-decision-table\"\u003e\u003c/a\u003e4. National Pension Receipt Timing Decision Table\u003c/h2\u003e\n\u003ch3\u003e\n\u003ca href=\"#situations-in-which-early-receipt-should-be-considered-first\" class=\"anchor\" id=\"situations-in-which-early-receipt-should-be-considered-first\"\u003e\u003c/a\u003eSituations in which early receipt should be considered first\u003c/h3\u003e\n\u003cul\u003e\n\u003cli\u003eYou lack other income or assets to cover essential living expenses immediately after retirement.\u003c/li\u003e\n\u003cli\u003eYou reasonably expect a shorter life expectancy due to poor health or family medical history.\u003c/li\u003e\n\u003cli\u003eYour debt interest burden is high, making it preferable to secure immediate cash flow.\u003c/li\u003e\n\u003cli\u003eYou meet the income requirements for an early old-age pension.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e\n\u003ca href=\"#situations-in-which-deferred-receipt-should-be-considered-first\" class=\"anchor\" id=\"situations-in-which-deferred-receipt-should-be-considered-first\"\u003e\u003c/a\u003eSituations in which deferred receipt should be considered first\u003c/h3\u003e\n\u003cul\u003e\n\u003cli\u003eYou can cover living expenses during the deferral period with earned income, a retirement pension, or financial assets.\u003c/li\u003e\n\u003cli\u003eYou are in good health and want to prepare for longevity risk.\u003c/li\u003e\n\u003cli\u003eYou want to increase the share of your income provided by a lifelong public pension rather than relying on investments subject to volatility.\u003c/li\u003e\n\u003cli\u003eYou can coordinate cash flow during the early and later stages of retirement by combining your pension with your spouse’s pension.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e\n\u003ca href=\"#situations-in-which-normal-receipt-is-reasonable\" class=\"anchor\" id=\"situations-in-which-normal-receipt-is-reasonable\"\u003e\u003c/a\u003eSituations in which normal receipt is reasonable\u003c/h3\u003e\n\u003cul\u003e\n\u003cli\u003eDrawing on assets to cover living expenses during the deferral period would be burdensome.\u003c/li\u003e\n\u003cli\u003eYour situation is not urgent enough to require early receipt, but you also lack the capacity to defer for a long period.\u003c/li\u003e\n\u003cli\u003eIt is difficult to assess your health and life expectancy, and you want a neutral option.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eYou should not decide to receive your pension early based solely on rumors about the fund’s finances or short-term news. Any potential changes to the system should be confirmed through official laws and guidance from the National Pension Service.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#5-effects-and-precautions-of-retroactive-national-pension-contributions\" class=\"anchor\" id=\"5-effects-and-precautions-of-retroactive-national-pension-contributions\"\u003e\u003c/a\u003e5. Effects and Precautions of Retroactive National Pension Contributions\u003c/h2\u003e\n\u003cp\u003eRetroactive contributions are not a system that allows you to voluntarily pay all unpaid premiums from the past. The law specifies eligible periods, such as periods excluded from National Pension coverage, and you must meet requirements such as having eligible enrollment status at the time of application.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#why-retroactive-contributions-may-be-useful\" class=\"anchor\" id=\"why-retroactive-contributions-may-be-useful\"\u003e\u003c/a\u003eWhy retroactive contributions may be useful\u003c/h3\u003e\n\u003cul\u003e\n\u003cli\u003eThey can increase your contribution period and help you qualify for old-age pension benefits.\u003c/li\u003e\n\u003cli\u003eYour estimated old-age pension amount may increase as your contribution period increases.\u003c/li\u003e\n\u003cli\u003eNational Pension premiums paid by you may qualify for a pension premium deduction when calculating income tax.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e\n\u003ca href=\"#how-much-will-be-refunded-if-you-pay-krw-10-million\" class=\"anchor\" id=\"how-much-will-be-refunded-if-you-pay-krw-10-million\"\u003e\u003c/a\u003eHow much will be refunded if you pay KRW 10 million?\u003c/h3\u003e\n\u003cp\u003ePaying KRW 10 million in retroactive premiums does not mean that KRW 10 million or a fixed percentage will automatically be refunded. The tax-saving effect varies depending on your taxable income before deductions, applicable tax rate, income for the relevant year, and other deductions.\u003c/p\u003e\n\u003cp\u003eFor example, the higher the marginal tax rate applied to the taxable income reduced by the deduction, the greater the potential tax reduction. Conversely, if you have little taxable income, the refund effect may be small or nonexistent. Before applying to make retroactive contributions, you should check the following:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eThe eligible retroactive contribution period and premium amount\u003c/li\u003e\n\u003cli\u003eThe estimated increase in your monthly pension after making retroactive contributions\u003c/li\u003e\n\u003cli\u003eThe terms for lump-sum and installment payments\u003c/li\u003e\n\u003cli\u003eThe actual income deduction effect for the relevant year\u003c/li\u003e\n\u003cli\u003eThe opportunity cost of using the funds to repay other debts or manage retirement assets instead\u003c/li\u003e\n\u003c/ol\u003e\n\u003ch2\u003e\n\u003ca href=\"#6-building-retirement-cash-flow-with-a-four-tier-pension-structure\" class=\"anchor\" id=\"6-building-retirement-cash-flow-with-a-four-tier-pension-structure\"\u003e\u003c/a\u003e6. Building Retirement Cash Flow with a Four-Tier Pension Structure\u003c/h2\u003e\n\u003cdiv class=\"overflow-x-auto\"\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eTier\u003c/th\u003e\n\u003cth\u003eSystem\u003c/th\u003e\n\u003cth\u003eCore role\u003c/th\u003e\n\u003cth\u003eMain risks or matters to check\u003c/th\u003e\n\u003c/tr\u003e\n\u003c/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Tier\"\u003eTier 1\u003c/td\u003e\n\u003ctd data-label=\"System\"\u003eNational Pension\u003c/td\u003e\n\u003ctd data-label=\"Core role\"\u003eLifelong public pension that can reflect inflation\u003c/td\u003e\n\u003ctd data-label=\"Main risks or matters to check\"\u003eReceipt timing, contribution period, life expectancy\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Tier\"\u003eTier 2\u003c/td\u003e\n\u003ctd data-label=\"System\"\u003eRetirement pension·IRP\u003c/td\u003e\n\u003ctd data-label=\"Core role\"\u003eLong-term management and phased withdrawal of retirement assets\u003c/td\u003e\n\u003ctd data-label=\"Main risks or matters to check\"\u003eInvestment losses, fees, restrictions on early withdrawals\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Tier\"\u003eTier 3\u003c/td\u003e\n\u003ctd data-label=\"System\"\u003ePension savings·pension insurance\u003c/td\u003e\n\u003ctd data-label=\"Core role\"\u003eTax benefits and supplementation of individual retirement funds\u003c/td\u003e\n\u003ctd data-label=\"Main risks or matters to check\"\u003eDifferences in taxes, costs, and guarantee terms by product\u003c/td\u003e\n\u003c/tr\u003e\n\u003ctr\u003e\n\u003ctd data-label=\"Tier\"\u003eTier 4\u003c/td\u003e\n\u003ctd data-label=\"System\"\u003eReverse mortgage pension\u003c/td\u003e\n\u003ctd data-label=\"Core role\"\u003eConversion of housing assets into lifelong cash flow while continuing to reside in the home\u003c/td\u003e\n\u003ctd data-label=\"Main risks or matters to check\"\u003eEnrollment age, home value, payment method\u003c/td\u003e\n\u003c/tr\u003e\n\u003c/tbody\u003e\n\u003c/table\u003e\u003c/div\u003e\n\u003ch3\u003e\n\u003ca href=\"#tier-1-national-pension\" class=\"anchor\" id=\"tier-1-national-pension\"\u003e\u003c/a\u003eTier 1: National Pension\u003c/h3\u003e\n\u003cp\u003eThe National Pension is the basic line of defense in retirement, but benefit amounts vary significantly depending on each person’s contribution period and standard monthly income. Do not estimate your pension based solely on a specific income replacement rate. You should directly check your estimated pension amount with the National Pension Service.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#tier-2-retirement-pension-and-irp\" class=\"anchor\" id=\"tier-2-retirement-pension-and-irp\"\u003e\u003c/a\u003eTier 2: Retirement Pension and IRP\u003c/h3\u003e\n\u003cp\u003eIf you receive your retirement benefits as a pension from an IRP rather than withdrawing them as a lump sum, your retirement income tax may be lower than for a lump-sum payment. The actual tax varies depending on the pension receipt requirements, the number of years over which it is received, and the source of the withdrawn funds. Personal contributions that received tax credits and their investment earnings may be taxed differently from funds originating from retirement benefits.\u003c/p\u003e\n\u003cp\u003eWhen managing an IRP, you should consider not only expected returns but also the time remaining until retirement and your ability to tolerate losses. As retirement approaches, it is reasonable to move money that will soon be needed for living expenses into less volatile assets, such as deposits and short-term bonds, while diversifying only long-term funds.\u003c/p\u003e\n\u003cp\u003eA fixed formula such as “KRW 200 million is enough to receive KRW 1 million per month” is risky. Withdrawing KRW 12 million annually from KRW 200 million produces an initial annual withdrawal rate of 6%, so the funds may be depleted early depending on returns, fees, inflation, and the withdrawal period. Under a simple calculation intended to preserve the principal over a long period, approximately KRW 400 million would be needed at an annual withdrawal rate of 3%, while approximately KRW 300 million would be needed at an annual withdrawal rate of 4%. However, these figures are not benchmarks that guarantee returns.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#tier-3-pension-savings-individual-irp-and-pension-insurance\" class=\"anchor\" id=\"tier-3-pension-savings-individual-irp-and-pension-insurance\"\u003e\u003c/a\u003eTier 3: Pension Savings, Individual IRP, and Pension Insurance\u003c/h3\u003e\n\u003cp\u003eContributions to pension savings and individual IRPs may qualify for tax credits within statutory limits. In general, the tax-credit limit for pension savings differs from the combined limit for pension savings and IRPs, so you should distinguish the order in which contributions are made to the two accounts. The tax-credit rate varies according to income level, and taxes may be imposed upon early termination or receipt in a form other than a pension.\u003c/p\u003e\n\u003cp\u003eTax exemption for pension insurance does not automatically apply to every product. To receive a tax exemption on insurance gains, you must meet tax-law requirements concerning matters such as the contract maintenance period, payment method, and premium limit. “Tax exemption” and “guaranteed principal or rate of return” are also separate concepts, so you should review the policy terms individually.\u003c/p\u003e\n\u003ch3\u003e\n\u003ca href=\"#tier-4-reverse-mortgage-pension\" class=\"anchor\" id=\"tier-4-reverse-mortgage-pension\"\u003e\u003c/a\u003eTier 4: Reverse Mortgage Pension\u003c/h3\u003e\n\u003cp\u003eA reverse mortgage pension allows you to receive monthly pension payments while continuing to live in your home after providing it as collateral. General eligibility criteria include several conditions, such as the age of either spouse and the combined officially assessed value of the couple’s homes. The currently prevalent criteria require at least one spouse to be age 55 or older and the combined officially assessed value to be at most KRW 1.2 billion, but additional detailed requirements based on the number and types of homes must also be checked.\u003c/p\u003e\n\u003cp\u003eThe monthly payment is determined by the age of the applicant or spouse, recognized home value, payment type, guarantee method, and the standards in effect at that time. Therefore, “KRW 300,000 per month for every KRW 100 million of home value at age 70” is only a rough example under specific conditions and is not a formula that applies to every applicant.\u003c/p\u003e\n\u003cp\u003eWhen the home is sold and the account is settled, any amount remaining after repayment of pension payments and guarantee-related amounts goes to the heirs. Conversely, even if the settlement amount exceeds the proceeds from selling the home, an important advantage is its non-recourse structure, under which the shortfall is generally not separately claimed from the heirs.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#7-a-krw-1-billion-lump-sum-and-krw-3-million-per-month-cannot-be-compared-directly\" class=\"anchor\" id=\"7-a-krw-1-billion-lump-sum-and-krw-3-million-per-month-cannot-be-compared-directly\"\u003e\u003c/a\u003e7. A KRW 1 Billion Lump Sum and KRW 3 Million per Month Cannot Be Compared Directly\u003c/h2\u003e\n\u003cp\u003eReceiving KRW 3 million per month in nominal terms for approximately 27 years and 9 months results in a cumulative amount of KRW 1 billion. However, a lump sum and a lifelong pension have different characteristics.\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eA lump sum offers greater liquidity and inheritance potential, but it carries the risks of investment losses, fraud, overspending, and depletion due to longevity.\u003c/li\u003e\n\u003cli\u003eA lifelong pension provides longevity insurance by making payments until death, but it may offer less flexibility in using or passing on the funds.\u003c/li\u003e\n\u003cli\u003eAs prices rise, the real purchasing power of a fixed KRW 3 million monthly payment declines.\u003c/li\u003e\n\u003cli\u003eA pension that reflects price changes, such as the National Pension, has a different value from a fixed-amount private pension.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eThe most stable approach is not to choose only one of the two. Instead, essential living expenses should be covered by the National Pension and lifelong cash flow, while irregular expenses such as medical costs, home repairs, and family support should be prepared for with separate financial assets.\u003c/p\u003e\n\u003ch2\u003e\n\u003ca href=\"#8-implementation-steps\" class=\"anchor\" id=\"8-implementation-steps\"\u003e\u003c/a\u003e8. Implementation Steps\u003c/h2\u003e\n\u003col\u003e\n\u003cli\u003eEach spouse checks their estimated National Pension amount and normal commencement age.\u003c/li\u003e\n\u003cli\u003eCompare monthly benefit amounts and break-even ages under scenarios involving early, normal, and 1–5 years of deferred receipt.\u003c/li\u003e\n\u003cli\u003eSeparate essential living expenses from discretionary living expenses after retirement.\u003c/li\u003e\n\u003cli\u003eCheck the taxes, fees, and expected withdrawal periods associated with retirement pensions and pension savings.\u003c/li\u003e\n\u003cli\u003eAssess whether funds will be depleted under separate assumptions of surviving to ages 80, 90, and 100.\u003c/li\u003e\n\u003cli\u003eIf you plan to keep your home, check the estimated monthly reverse mortgage pension payment.\u003c/li\u003e\n\u003cli\u003eKeep at least 1–2 years’ worth of essential living expenses in low-volatility assets that can be withdrawn easily.\u003c/li\u003e\n\u003cli\u003eAfter securing essential living expenses through pensions, invest only the remaining long-term funds according to your risk tolerance.\u003c/li\u003e\n\u003c/ol\u003e\n\u003ch2\u003e\n\u003ca href=\"#conclusion\" class=\"anchor\" id=\"conclusion\"\u003e\u003c/a\u003eConclusion\u003c/h2\u003e\n\u003cp\u003eThe National Pension is not a system that must “always” be claimed at age 65 or any other specific age. Early receipt addresses cash-flow gaps, while deferred receipt increases the monthly pension amount to prepare for longevity. Which option is more advantageous depends on your health, life expectancy, spouse’s pension, taxes, assets, and post-retirement income.\u003c/p\u003e\n\u003cp\u003eStable retirement planning is not about identifying a single correct time to receive the National Pension. The key is to build a four-tier structure: use the National Pension to cover basic living expenses, fill any gaps with retirement and private pensions, and convert housing assets into cash flow through a reverse mortgage pension when necessary.\u003c/p\u003e\n","tags":["Reverse mortgage","National Pension","occupational pension","personal pension","retirement planning"],"faqs":[{"question":"Is it always advantageous to start receiving the National Pension after age 65?","answer":"It is not always advantageous. Deferring benefits increases the monthly pension amount, but you will not receive a pension during the deferral period. You should consider your health, life expectancy, sources of living expenses, and your spouse's pension. The simple break-even point between receiving benefits at the normal time and deferring them for 5 years is around age 84."},{"question":"How much is the National Pension reduced if I start receiving it 5 years early?","answer":"The early old-age pension is reduced by 0.5% per month and 6% per year. If you start receiving it 5 years early, you will receive 30% less than the normal pension amount."},{"question":"How much does the National Pension increase if I start receiving it 5 years later?","answer":"A deferred pension increases by 0.6% per month and 7.2% per year. If you defer the entire amount for 5 years, it will be 36% higher than the normal pension amount. You may also defer only part of the amount rather than the entire amount."},{"question":"Am I ineligible for the early old-age pension if I have even a small amount of income?","answer":"It does not simply mean that you must have no income whatsoever. The criterion is whether you are engaged in an ‘income-earning activity’ as defined by law, and the income threshold used for this determination may change. If you have earned income or business income, you should check with the National Pension Service."},{"question":"Can I receive a full tax refund for retroactive National Pension contributions?","answer":"No. Eligible National Pension contributions may qualify for an income deduction, but the amount paid is not refunded in full. The actual tax savings depend on your taxable income, marginal tax rate, other deductions, and taxes already paid."},{"question":"What are the advantages of receiving retirement benefits as a pension from an IRP?","answer":"If you receive the funds in installments in accordance with the pension payment requirements, you can reduce the retirement income tax burden compared with receiving a lump sum and also lower the risk of exhausting a large sum in a short period. However, the taxation method varies depending on the source of the withdrawn funds and the number of years over which the pension is received."},{"question":"Are pension savings accounts and IRPs the same product?","answer":"Both can be used to prepare for retirement and claim tax credits, but they differ in eligibility, investment restrictions, early withdrawal conditions, and fees. For the contribution limits eligible for tax credits for pension savings accounts and IRPs, you should distinguish between and check their respective limits and the combined limit."},{"question":"If I receive more from a reverse mortgage than my home is worth, do my children have to repay the difference?","answer":"A typical reverse mortgage is non-recourse, so in principle, even if the amount to be settled exceeds the proceeds from the sale of the home, the shortfall is not separately claimed from the heirs. Conversely, any amount remaining after settlement is paid to the heirs."},{"question":"At age 70, do I receive KRW 300,000 per month for every KRW 100 million in home value under a reverse mortgage?","answer":"There is no fixed formula. The monthly payment varies depending on factors such as the age of the younger spouse, the recognized home value, the enrollment date, the payment type, and the guarantee terms. You should check it using the Korea Housing Finance Corporation's estimated pension calculator."},{"question":"For retirement, should I prepare a lump sum or a pension first?","answer":"A stable approach is to first cover essential living expenses with a steady pension such as the National Pension and prepare a separate lump sum for irregular expenses such as medical costs or home repairs. Pensions and financial assets are complementary rather than substitutes for each other."}],"sources":[{"url":"https://www.nps.or.kr/","title":"National Pension Service","type":"source"},{"url":"https://www.law.go.kr/법령/국민연금법","title":"National Law Information Center: National Pension Act","type":"source"},{"url":"https://www.law.go.kr/법령/소득세법","title":"National Law Information Center: Income Tax Act","type":"source"},{"url":"https://www.hf.go.kr/ko/index.do","title":"Korea Housing Finance Corporation","type":"source"},{"url":"https://www.nts.go.kr/","title":"National Tax Service","type":"source"},{"url":"https://100lifeplan.fss.or.kr/","title":"Financial Supervisory Service Integrated Pension Portal","type":"source"}],"images":[{"id":351,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6NDEwMiwicHVyIjoiYmxvYl9pZCJ9fQ==--8c1264685f4780f696898d310f8d26859e87ff89/ai-b6b124cb.webp","is_representative":true,"generation_method":"ai_image","license":"ai_generated","mime_type":"image/webp","translations":{"ko":{"alt":"연금과 자산을 상징하는 4단 구조물 옆에 서 있는 노부부","caption":"국민연금과 다양한 노후 자산을 층별로 설계하는 개념을 보여준다.","description":null},"en":{"alt":"Elderly couple beside a four-tier structure symbolizing pensions and retirement assets","caption":"The illustration represents a layered approach to pensions and retirement planning.","description":null},"ja":{"alt":"年金と老後資産を象徴する4層の構造物のそばに立つ高齢夫婦","caption":"公的年金と複数の老後資産を組み合わせる階層型の設計を表している。","description":null},"es":{"alt":"Pareja mayor junto a una estructura de cuatro niveles que simboliza pensiones y activos","caption":"La ilustración representa una planificación de la jubilación basada en varias capas de ingresos.","description":null},"id":{"alt":"Pasangan lansia di samping struktur empat tingkat yang melambangkan pensiun dan aset","caption":"Ilustrasi ini menggambarkan perencanaan pensiun berlapis dengan berbagai sumber dana.","description":null},"pt":{"alt":"Casal idoso ao lado de uma estrutura de quatro níveis que simboliza pensões e patrimônio","caption":"A ilustração representa um planejamento de aposentadoria com várias camadas de renda.","description":null},"zh-hant":{"alt":"老夫妻站在象徵年金與退休資產的四層結構旁","caption":"插圖呈現結合公共年金與多種退休資產的分層規劃。","description":null},"de":{"alt":"Älteres Paar neben einer vierstufigen Struktur als Symbol für Rente und Altersvorsorge","caption":"Die Illustration zeigt eine mehrschichtige Planung von Rente und Altersvorsorge.","description":null}}},{"id":352,"url":"https://injoys.com/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsiZGF0YSI6NDEwOSwicHVyIjoiYmxvYl9pZCJ9fQ==--e2b4cd3e61e46308f4171091374ce1dff7084df5/ai-fecaf2c5.webp","is_representative":false,"generation_method":"ai_image","license":"ai_generated","mime_type":"image/webp","translations":{"ko":{"alt":"시계와 생애 단계, 동전 흐름, 집을 떠받치는 4개 연금 기둥을 그린 노후 설계도","caption":"국민연금 수령 시기와 4층 연금으로 노후를 준비하는 과정을 상징적으로 보여준다.","description":null},"en":{"alt":"Retirement plan with a clock, life stages, coin flows, and four pension pillars supporting a house","caption":"The illustration symbolizes planning retirement income through timing and a four-tier pension system.","description":null},"ja":{"alt":"時計、人生の段階、硬貨の流れ、家を支える4本の年金の柱を描いた老後設計図","caption":"受給時期と4階建ての年金制度で老後に備える流れを象徴している。","description":null},"es":{"alt":"Plan de jubilación con reloj, etapas vitales, monedas y cuatro pilares de pensión que sostienen una casa","caption":"La ilustración simboliza la planificación del retiro mediante el momento de cobro y cuatro niveles de pensión.","description":null},"id":{"alt":"Rencana pensiun dengan jam, tahap kehidupan, aliran koin, dan empat pilar dana pensiun penyangga rumah","caption":"Ilustrasi ini melambangkan persiapan hari tua melalui waktu penerimaan dan empat lapis dana pensiun.","description":null},"pt":{"alt":"Plano de aposentadoria com relógio, fases da vida, moedas e quatro pilares de pensão sustentando uma casa","caption":"A ilustração simboliza o planejamento da aposentadoria pelo momento do benefício e quatro níveis de pensão.","description":null},"zh-hant":{"alt":"時鐘、人生階段、硬幣流向，以及由四根年金支柱托住住宅的退休規劃圖","caption":"插圖象徵透過請領時機與四層年金制度規劃退休生活。","description":null},"de":{"alt":"Ruhestandsplan mit Uhr, Lebensphasen, Münzen und vier Rentensäulen, die ein Haus tragen","caption":"Die Illustration steht für Ruhestandsplanung durch den Bezugszeitpunkt und ein vierstufiges Rentensystem.","description":null}}}],"published_at":"2026-07-30T03:51:40+09:00","updated_at":"2026-07-30T03:51:40+09:00","license":"cc_by","translation_status":"reviewed","available_locales":["ko","en","ja","es"],"data_locales":["ko","en","ja","es","id","pt","zh-hant","de"],"url":"https://injoys.com/en/articles/korea-four-layer-retirement-pension-strategy"}