How much does your lifetime total fall if you claim early, and from what age does deferring pay off? Enter just your birth year and expected monthly pension to compare cumulative benefits from 5 years early to 5 years deferred in a chart. The National Pension (NPS) is South Korea's public pension, run by the National Pension Service.
The point where the lines cross is the break-even point. If you live beyond that age, the option on the upper line gives you the larger lifetime total.
Cumulative benefits are nominal amounts calculated from the number of months received from the start age up to the birthday at each age. The break-even age is determined only by the reduction and increase rates, regardless of the size of your monthly pension.
This tool uses the official figures published by the National Pension Service. The normal pension age by birth year is: age 60 for those born in 1952 or earlier, age 61 for 1953–56, age 62 for 1957–60, age 63 for 1961–64, age 64 for 1965–68, and age 65 for those born in 1969 or later. The early pension (early old-age pension) can start up to 5 years before the normal pension age and is reduced by 6% per year (0.5% per month), up to a maximum reduction of 30%, paid at that reduced rate for life. The deferred pension can be delayed by up to 5 years and is increased by 7.2% per year (0.6% per month), up to a maximum increase of 36%. See the claiming strategy guide for how the system works and how to choose.
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Q. How much is the pension reduced if I claim early?
The pension is reduced by 6% for each year you claim early (0.5% per month). If you claim the maximum 5 years early, you receive 70% of the normal amount for life.
Q. How much does the pension increase if I defer?
The pension increases by 7.2% for each year you defer (0.6% per month). If you defer the maximum 5 years, you receive 136% of the normal amount for life.
Q. Does the break-even age depend on my monthly pension amount?
No. The break-even age is determined only by the reduction and increase rates. With 5 years of early claiming, cumulative benefits equal the normal claiming total 11 years and 8 months after the normal pension age. With 5 years of deferral, cumulative benefits move ahead of normal claiming 13 years and 11 months after the deferred start age.
Q. Can anyone apply for early pension?
No. You must have at least 10 years of National Pension coverage and must not be engaged in income-generating work. If your average monthly income while receiving the pension exceeds the A-value (KRW 3,193,511 in 2026), payment may be suspended.