Korea National Pension Claiming Age Simulator — what it does, the basis for its calculations, and why we made it.
The Korea National Pension Claiming Age Simulator is a free web tool that compares claiming your National Pension early, at the standard age, or later (deferred). It shows how the monthly amount and the total received change with each choice.
It applies the National Pension Service's early-claiming reduction rate (6% per year) and deferral increase rate (7.2% per year), along with the pensionable age by year of birth, to find the break-even age for each option.
The claiming age is hard to undo once chosen, and which option wins depends greatly on personal circumstances. This site exists so you can compare the numbers instead of deciding by feel.
Results are a simple calculation based on the expected monthly amount you enter. Your actual pension depends on your contribution period, income, and revaluation rates, so check your personalized estimate in the National Pension Service's 'My Pension' service.