Every month for three years, Elena watched about ₩126,000 leave her payslip under 국민연금. She assumed it was gone for good: she wasn't going to retire in Korea.
A week before her flight home, a friend asked, "Did you claim your pension refund?" She had never heard of it.
If your country is on the National Pension Service’s refund list, or you were on an E-8, E-9 or H-2 visa, you can take back everything paid in your name, your half and your employer’s half, plus interest. For Elena, that was about ₩9.5 million.
Do you qualify?
NPS pays a lump-sum refund (반환일시금) to foreigners leaving Korea for good when one of these applies:
- Korea has a social security agreement with your country that allows refunds.
- Your country’s own law pays Koreans a similar refund (reciprocity).
- You were enrolled while on an E-8, E-9 or H-2 visa, whatever your nationality.
The list of countries changes, so check the current NPS page or call 1355 (English service available) with your ARC number. Some agreements don’t refund the money but let your Korean months count toward a pension at home, which can be worth more in the long run.
How much will you get?
Both halves of every contribution, plus interest at the 3-year time deposit rate. In 2026 the total contribution is 9.5% of your pay (it was 9% until 2025).
Elena: ₩2,800,000 a month, March 2023 to February 2026 (36 months).
Contributions, both halves: about ₩9,100,000
Interest at about 3%: about ₩420,000
Estimated refund: about ₩9,520,000
Get your own estimate with the pension refund calculator.
How to claim
Leaving first and sorting it out later by post, after your Korean bank account and phone are closed.
Applying at an NPS branch in your last weeks, or at the NPS counter in Incheon Airport on the day you fly.
Bring:
- Passport and ARC (외국인등록증)
- Proof you’re leaving: flight ticket or e-ticket
- Bank details: a Korean account, or an overseas account with SWIFT details
- The claim form (available at the branch)
E-9 and H-2 workers often have the refund paid at the airport or straight to a home account. Others are usually paid after departure, once NPS confirms you’ve left.
Keep your Korean bank account open for a few weeks after you leave if you choose payment in won. Closing it on your last day is the most common reason refunds bounce.
Common questions
Is it taxed? Part of the refund may be subject to withholding. NPS will tell you the amount when you claim.
Can I claim and come back later? The refund is for leaving Korea permanently. If you return to work, you rejoin the pension from scratch.
What about severance? That’s a separate payment from your employer. See severance pay in Korea.
Sources: National Pension Act art. 77 and 126; National Pension Service guide for foreigners (lump-sum refund).
Try it with your own numbersNational Pension Refund CalculatorSee how much National Pension money you can take home when you leave Korea, and check whether you qualify.Written from the laws and official notices in force on the date above. Rules change and every case is different, so check with the office named in the article before an important decision. Spotted something out of date? Tell us.