"How much will my national pension actually be?" Logging into the official site is a chore. Enter your average monthly income and years of contribution and get an estimate instantly — with early and deferred claiming compared side by side.
Calculates automatically using basic pension (annual) = constant × (A + B) × years ÷ 20. This is an estimate; actual amounts depend on revaluation of past income, period-specific constants and dependent allowances. For an exact figure, use the National Pension Service's own estimate service.
How it works — the A and B values
Korea's national pension isn't a savings account that returns what you paid. It contains income redistribution, so two incomes enter the formula.
- A value — the average monthly income of all members (three-year average). The 2026 figure is ₩3,193,511. It applies equally to everyone: the "flat" portion.
- B value — your own average income over your contribution years: the proportional portion.
One consequence worth knowing: the lower your income, the higher your return relative to contributions, because the shared A value makes up half the formula. That's why this is social insurance, not an investment.
The formula
Basic pension (annual) = constant × (A + B) × years ÷ 20
- The constant reflects the replacement rate of your enrollment period. From 2026 it's 1.29 (43% replacement).
- Earlier periods used higher constants (2.4 for 1988–1998), so long-time members may receive more than this estimate.
- 20 years is the pivot: at 20 years you get 100% of the basic pension, less below and more above.
Early vs deferred claiming
- Early — up to five years sooner, reduced 6% per year, permanently. Five years means 30% less for life.
- Deferred — up to five years later, increased 7.2% per year. Five years means 36% more.
Which wins depends on health, other income and life expectancy — see early vs deferred claiming.
Limits of this estimator
- It doesn't apply revaluation to past income, which in reality lifts older earnings to present value.
- Mixed enrollment periods use different constants per period; this uses one.
- Dependent allowances aren't included.
- Results are pre-tax.
For an exact figure, use the National Pension Service (nps.or.kr) estimate service or its mobile app — it reflects your real contribution history.
FAQ
What if I have under 10 years?
No old-age pension — you receive a lump-sum refund instead. Voluntary continued enrollment after 60 can get you to 10 years.
My official estimate is higher than this.
Older contribution periods carry higher constants, and revaluation raises past income. The official figure is the accurate one.
What changed in 2026?
The contribution rate rose from 9% to 9.5% and the replacement rate went to 43% — see the 2026 reform guide.
Can I increase my pension?
Yes — retroactive payments, repaying refunds, voluntary enrollment and credits. See how to increase your pension.
With the national pension, how long you contribute matters more than how much. Start by checking how to extend your years.
This is a general-information estimate, not financial or legal advice. Rules and figures change — confirm with the National Pension Service.
