How to cancel the national pension and receive a lump-sum refund
There are a lot of people who are worried about whether I can receive it in the future because of the news article that the national pension will be depleted as the years go by, right? Because of this problem, the government continues to come up with reform proposals, and it is said that a lump-sum refund is paid when it is difficult to maintain the qualifications for some national pensions.
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How to cancel the national pension and receive a lump-sum refund
1. Cancellation method
2. Age for receiving lump-sum refund
3. Interest amount
4. Re-registration requirements
5. How to apply
6. Required Documents
How to cancel the national pension and receive a lump-sum refund
1. Cancellation method
If a person who has paid the national pension for less than 10 years has reached the age of 60, or if the subscriber dies, loses his/her nationality, or moves abroad, it is judged that he or she cannot maintain the national pension eligibility and can receive a lump sum payment by adding interest to the national pension that has been paid so far.
▶ If a person who has been enrolled for less than 10 years has reached the age of 60
▶ In the event that a subscriber or former subscriber dies but is not eligible for survivors’ pension
▶ If you have lost your nationality or moved abroad
2. Age for receiving lump-sum refund
In principle, the age for receiving the lump-sum refund is available when the age is adjusted and reaches the age below. As an exception, after reaching the age of 60 in accordance with Article 8-3 of the Addenda to the National Pension Act, if the person wishes to receive the lump-sum refund even before reaching the age of payment You can receive it.
Year of birth Recipient age
1953 ~ 1956 61 years old
1957 ~ 1960 62 years old
1961 ~ 1964 63 years old
1965 ~ 1968 64 years old
65 since 1969
3. Interest amount
The lump-sum refund is received by adding the principal and interest. The interest rate is received by applying the interest rate of the 3-year term deposit for the period from the month following the month in which the pension insurance premium was paid to the month in which the payment occurs, such as reaching the payment age. can.
▶ The interest rate is the average of the interest rates applied by banks on January 1 of each year.
▶ 2023 3-year time deposit interest rate: 3.5%
▶ Add the multiplied by the 3-year time deposit interest rate applied to the applicable period
※ For pension insurance premiums paid before April 16, 2015, the three-year time deposit interest rate will be applied from April 2015, and if the lump-sum refund payment occurs before April 16, 2015, the interest rate according to the previous regulations will be applied.
4. Re-registration requirements
▶ Voluntary subscription
When you turn 60, if you cannot receive a pension payment because you do not meet the payment conditions for at least 120 months, you can re-enrol by applying for voluntary continuation without receiving a lump-sum refund.
▶ Return system
You can re-subscribe by returning the lump-sum refund + interest amount received in the past to the National Pension Service.
▶ Later payment system
You can pay premiums that you have not been able to pay so far for up to 10 years with additional payments, and you can pay in installments up to 60 months.
5. How to apply
There are four ways to apply for a lump-sum refund.
▶ Visit branch offices of the National Pension Service or apply for pension service by visiting
Find a branch of the National Pension Service
Go to the application for visiting pension service
▶ Mail application
▶ Apply by phone or fax (if the total insurance premium paid is less than KRW 2,000,000)
▶ Internet application through the website of the National Pension Service’s electronic civil application service
Go to National Pension Service Electronic Civil Service
After accessing the National Pension Service e-Civil Service website, you can apply by selecting Personal Services > Pension/Lump-Sum Payment Claim on the main screen.
▶ Claim period: Claim within 5 years from the date of reaching the right to benefits (then it will expire thereafter). After 5 years, the right to payment will expire.
※ For those who have reached the age to receive payments after January 25, 2018, the statute of limitations has been extended to 10 years.
6. Required Documents
▶ Required Documents
👉 Lump-sum refund payment invoice
👉 ID: Copy of resident registration card, driver’s license, passport, sailor’s notebook, disabled welfare card (disability registration card)
👉 Beneficiary’s deposit account
▶ Required Documents by Type
👉 Claims due to death: death certificate, detailed certificate of the deceased’s family relationship certificate
👉 Overseas emigration: Confirmation of overseas emigration report or copy of residence passport
👉 Loss of nationality: detailed certificate of recipient or certificate of loss of nationality