Questions & Answers

Question :

[National Pension] Who is eligible for a Lump-sum refund?

In which circumstances am I eligible for a Lump-sum refund?
Answer :
in the case of foreigners falling under any of the following conditions, a lump-sum refund will be paid.

① in cases where a foreigner whose home country grants koreans a benefit corresponding to a lump-sum refund under the national pension scheme.
=> under this rule, only the nationals from the following 31 countries
※ may receive the korean lump-sum refund. please refer to article 126 of the national pension act and article 113 of the enforcement decree of the national pension act.

② in cases where a foreigner whose home country has concluded a social security agreement with korea regarding the payment of the lump-sum refund.

③ regardless of nationality, in cases where a foreigner, who has been covered under the national pension scheme with a stay visa of e-8 (employment for training), e-9 (non-professional employment), or h-2 (visiting employment) returns to his/her home country.

countries whose nationals are granted a lump-sum refund
(as of january, 2011)
regardless of nationality e-8 (employment for training), e-9 (non-professional
employment), h-2 (visiting employment)
under the social security
agreement (13 countries)
us, canada, australia, hungary, france, czech republic, belgium, poland, slovakia, bulgaria, germany, rumania, austria
minimum insured period: over 6 months belize
minimum insured period: over 1 year (10 countries) grenada, barbados, zimbabwe, cameroon, congo,
thailand, togo, jordan, saint vincent and grenadine,
minimum insured period: over 2 years venezuela
minimum insured period: none (19 countries) ghana, malaysia, vanuatu, bermuda, sudan, sri lanka, switzerland, el salvador, india, indonesia, kazakhstan,
kenya, colombia, trinidad and tobago, turkey,
philippines, hong kong, tunisia, uganda
※ countries mentioned above are changeable by the law of the domicile of foreign countries and the social security agreement.
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