Select your retirement pension plan type (DB, DC, or IRP) and enter the details below to estimate your lump-sum payout at retirement and your monthly amount if received as a pension.
Assumes at least 1/12 of your annual wage is contributed to your DC account each year, growing at this expected annual return
Assumes your current balance and yearly additional contributions grow at this expected annual return until withdrawal
Leave at 0 to assume no further growth while receiving monthly payments
Select your plan type and enter the details above to estimate your retirement pension payout.
This is a simplified reference estimate only, not an official calculation. DB is approximated as average monthly wage just before retirement × years of continuous service (the statutory minimum is 30 days' average wage per year of service, and in practice it is based on your average wage over the final 3 months). DC assumes your employer contributes at least 1/12 of your annual wage to your account each year, compounding annually at your entered expected return — actual contributions and investment performance vary by employer and product. IRP assumes your current balance and yearly additional contributions grow at your entered expected return until withdrawal. The monthly pension amount spreads your estimated lump sum over the payout period and payout-phase return you enter (0% means an even split). This calculator does not account for retirement income tax (퇴직소득세), reduced pension income tax (연금소득세, typically 3.3%–5.5% when received as a pension for 10+ years after age 55), the IRP tax credit on additional contributions, investment losses, fees, or year-to-year changes in your wage or salary. For an accurate figure, check with your employer's HR department or your retirement pension provider, or consult a financial or tax professional.
Beyond the mandatory National Pension, Korean employers must offer a company retirement pension through one of two structures — Defined Benefit (DB), where the final payout is guaranteed based on your salary and years of service regardless of investment performance, or Defined Contribution (DC), where a fixed percentage of salary is invested each year and the final payout depends on investment returns — plus individuals can voluntarily add an IRP (Individual Retirement Pension) account on top of either. This tool estimates your expected lump-sum or monthly payout under whichever plan type applies to you.
DB calculates a lump sum as your average monthly wage just before retirement × your years of continuous service, following the same basic formula as standard severance pay, unaffected by market performance. DC and IRP instead calculate future value using the standard compound growth formula, treating your entered annual contribution (your salary ÷ 12 for DC, or your entered additional amount for IRP) as growing at your assumed annual return rate over your investment period — if you choose to receive the result as an ongoing pension rather than a lump sum, the calculator converts the final balance into equal periodic payments using a standard pension-payout amortization formula based on your chosen payout period and assumed return rate during payout.