If you once took a National Pension lump-sum refund and have since rejoined, you can pay it back with interest and restore that membership period. National Pension Act Article 78 calls this the “repayment” and counts the matching period back into membership. Enforcement Decree Article 52 charges interest at the 1-year fixed deposit rate from the month the refund was paid to the month before you apply, compounded yearly once it runs past a year, and allows 3, 12 or 24 instalments depending on membership. Enter the amount, the months and an assumed rate to estimate it.
1. Repayment = refund received + interest at the 1-year deposit rate (Art. 78, Decree Art. 52).
2. Interest runs to the month before you apply, added to principal each year (yearly compounding).
3. Instalments: under 1 year of membership 3, 1 to under 5 years 12, 5 years or more 24.
Calculator
Updates as you type. Interest runs from the month the refund was paid to the month before you apply, compounded yearly (Decree Art. 52(3)). The real rate is the 1-year deposit rate in force each period; here one assumed rate is used, and part-years are pro rata by month (our method). The NPS calculates the actual amount.
The two articles
| Type | What the source says | Worth noting (ours) |
|---|---|---|
| Act Art. 78(1) | A person who received a refund and has become a member again may pay the NPS the refund plus interest set by Decree (the repayment) | Optional, not a duty |
| Act Art. 78(2)–(3) | The repayment may be paid in instalments, with interest; once paid, the matching period counts as membership | That period comes back |
| Decree Art. 52(1) | Lump sum: by the end of the month after applying. Instalments: from the next month, by the end of each month | — |
| Decree Art. 52(2) | Membership under 1 year: 3, 1 to under 5 years: 12, 5 years or more: 24 instalments, split by months of membership | Which “membership period”: ask the NPS |
| Decree Art. 52(3) | Lump sum: from the month the refund was paid to the month before the application; instalments: each to the month before it is paid; at the 1-year fixed deposit rate in force; over a year, interest is added to principal yearly | Later instalments carry more interest |
Interest on the refund itself, when paid out, uses the 3-year deposit rate (Decree Art. 50 — see lump-sum refund). Paying it back uses the 1-year rate.
Three sums — our examples
| Case (ours, fixed rate assumed) | Repayment | Worth noting (ours) |
|---|---|---|
| 10m won paid Mar 2018, apply Nov 2026, 3% | 12,921,054 won | 104 months = 8 yr 8 mo; 10m × 1.038 × 1.02 |
| 5m won paid May 2025, apply Nov 2026, 3% | 5,227,249 won | 18 months = 1 yr 6 mo; 5m × 1.03 × 1.015 |
| 10m won paid Jan 2016, apply Nov 2026, 2.5% | 13,067,529 won | 130 months = 10 yr 10 mo |
The real rate is whatever 1-year deposit rate applied in each period. The table fixes one rate, prorates part-years by month and drops fractions of a won (our method). Split into 24, the first case is about 538,377 won of principal per instalment, but each instalment carries interest to the month before it is paid.
Should you repay?
The restored period counts toward the membership needed for an old-age pension and toward its amount (Art. 78(3)). Other ways to add membership — catch-up payments, continued enrolment, credits, deferral — are compared in ways to raise your national pension.
Checklist
- ☐ You are a member again (the condition)
- ☐ The month the refund was paid
- ☐ Interest to the month before applying — later means more
- ☐ Lump sum by the end of next month; instalments monthly from next month
- ☐ Confirm 3, 12 or 24 instalments with the NPS
Questions that remain
Where do I find the rate?
The Decree only says “the 1-year fixed deposit rate applied during the period”. We did not check which rate table is used; ask the NPS for the exact amount.
Can I repay only part?
Instalments are split “by months counted as membership”, which reads as each payment restoring its share (our gloss). What happens if you stop midway is not in the articles we read.
Sources
- Korean law database (law.go.kr) — National Pension Act Art. 78 — source (current text, effective 20 October 2026, Act No. 22096; checked 27 October 2026). Repayment, instalments with interest, restored membership, delegation to Decree.
- Korean law database — Enforcement Decree Art. 52 — source (current text, effective 1 January 2026, Decree No. 35602; checked 27 October 2026). Deadlines, 3/12/24 instalments, 1-year deposit rate and yearly compounding.
- Not read. The application form, the table of 1-year deposit rates by period, stopping instalments.
- What we added. The “worth noting” column and the Korean everyday gloss.
Where to check further
- National Pension Service — your repayment figure and instalment applications.
Written on 27 October 2026. The content is from the source; the glosses are ours.
