Enter your total salary (or comprehensive income) and your annual pension savings and IRP contributions to calculate the limit-adjusted tax-credit-eligible amount and your estimated tax credit. Because the income threshold, credit rates, and caps all shift with tax law revisions, only reference defaults are auto-filled — everything stays directly editable.
Reference defaults are auto-filled here. Because the income threshold, credit rates, pension savings' own cap, and combined cap all change with tax law revisions, none of these are fixed values — check the latest National Tax Service (NTS) guidance before filing, and edit the fields below to match.
Enter your total salary (or comprehensive income) and your annual pension savings and IRP contributions to calculate the tax-credit-eligible amount and your estimated tax credit.
This is a reference estimate only. Under Korea's Income Tax Act Article 59-3 (pension account tax credit), contributions to a pension savings account are recognized only up to their own cap; adding IRP contributions to that recognized amount is then capped again at the combined limit; the recognized amount is multiplied by a tax credit rate (including local income tax) that depends on your total salary or comprehensive income bracket. Because the income threshold, credit rates, pension savings' own cap, and combined cap can all change with tax law revisions, this calculator avoids hardcoded figures — it only auto-fills reference defaults based on the current tax law, and every value stays directly editable. Your actual tax credit can differ depending on your comprehensive income amount, interactions with other credits and deductions, and other income tax treatment on early pension account withdrawals, so verify the exact figure through Hometax (National Tax Service) or a tax professional. This is not tax or legal advice.
Korea offers a tax credit (not just a deduction) for contributions to personal pension savings accounts (연금저축) and individual retirement pension accounts (IRP), directly reducing the tax you owe rather than just your taxable income — a meaningfully more valuable form of tax relief. This tool estimates your tax credit based on your total contributions, account types, and income level.
The combined annual contribution limit eligible for the credit is 9 million KRW across a pension savings account and IRP together (with the pension savings account alone capped lower, at 6 million KRW). The credit rate applied to your eligible contribution is 16.5% if your total annual income is 55 million KRW or below (or business income 45 million KRW or below), and 13.2% above that threshold — the calculator multiplies your eligible contribution amount by whichever rate applies to your income to estimate the credit.