Arriving & offices
Korean pension (NPS): money back when you leave
As of: October 2026 · Leben in Korea
If you work in Korea, you pay into the national pension insurance. The good news for Germans: when you leave Korea for good, you can have your contributions paid out. Here's how it works.
Who pays into the NPS?
Foreigners between 18 and 60 who live in Korea are compulsory members of the national pension insurance National Pension Service (국민연금, NPS), just like Koreans.
For employees, employee and employer each pay half of the contribution. The contribution rate is the same for foreigners and Koreans.
Why Germans get their money back
Normally the NPS doesn't pay foreigners a one-off refund. Germans get it, though, because Germany and Korea have a social security agreement.
Swiss citizens get the refund too, because Switzerland grants Koreans a comparable benefit.
When do you get the refund?
You get the refund (lump-sum refund) when you leave Korea for good or turn 60. Your contributions are paid out plus interest.
A monthly Korean old-age pension only starts after 10 years of insurance.
Applying in Korea before you leave
The easiest way is to apply for the refund while you're still in Korea. You need:
- application form
- copy of your passport and Residence Card
- copy of your bankbook
- copy of your flight ticket
Applying after you've left
Already gone? You can apply from abroad too: have the application certified by a notary and confirmed by the Korean embassy or consulate. Add copies of your passport and bankbook.
If you apply through a representative in Korea, the application has to be sent by post.
Who to contact
Your contacts are the NPS regional offices. You'll find their details on www.nps.or.kr.
Checklist
- Before your flight: apply at an NPS regional office
- Have copies of passport, Residence Card, bankbook and flight ticket ready
- Already left: have the application notarised and confirmed at the embassy
Sources
- National Pension Service – Guide to the National Pension for Foreigners (PDF)
- Deutsche Rentenversicherung – Working in Germany and Korea
As of: October 2026. General information, not legal or tax advice. No guarantee; the official authorities have the final word.