National Pension for Foreigners Settling in Korea: Not a Lump-Sum Refund, but a Real Pension (2026)

Why a lump-sum refund is not always the answer

If you plan to remain in Korea, do not view the National Pension only as money to collect when you leave. Its core purpose is to build contribution history for a monthly old-age pension. In general, a person with at least ten years of Korean National Pension coverage who reaches the pensionable age for their birth year may claim an old-age pension. See the NPS official old-age pension guidance for the applicable rules.

A lump-sum refund is not a savings product you can freely choose when leaving a job. It is payable only when a statutory payment ground applies. Once paid and the covered period is settled, that period does not remain intact for a future pension calculation. Continuing coverage is not automatically better either. You must consider your age, expected stay, Korean contribution period, immigration status, and Vietnamese insurance record together.

How workplace contributions accumulate

Foreign employees ages 18 to under 60 in Korea are generally covered as workplace participants unless a statutory exclusion, reciprocity rule, or social-security-agreement exception applies. In 2026, the workplace contribution rate is 9.5% of standard monthly income: 4.75% paid by the employee and 4.75% by the employer. The employer remits the total, so compare your pay statement with the NPS official contribution-rate guidance.

• Check the National Pension deduction on every pay statement.
• Confirm that no workplace or covered month is missing from your NPS record.
• Recheck coverage when changing jobs, taking leave, or changing status.
• If you are posted from abroad, verify whether a home-country coverage certificate creates an exemption.

The official foreign participant guidance explains coverage and exclusions. Do not decide from the visa name alone; confirm through NPS 1355.

The Korea–Vietnam agreement: check what is actually in force

The Korea–Vietnam Social Security Agreement took effect on January 1, 2024, not in 2025. Its currently operating core is coordination against double contributions for certain posted workers. As of July 2026, however, NPS still marks the totalization of Vietnamese and Korean coverage periods as not in force. Although the treaty was designed with totalization provisions, you cannot yet treat five Korean years plus five Vietnamese years as an immediately recognized ten-year period.

The NPS Korea–Vietnam agreement status page says that contribution exemptions are available now while totalization awaits related Vietnamese domestic legislation. A posted worker generally remains under the home-country system for 60 months, with a possible conditional extension, but locally hired workers are treated differently.

Comparing a refund with continued coverage

1. Estimate your realistic settlement period and future Korean coverage.
2. Confirm whether your nationality and status meet a statutory refund ground.
3. Compare the coverage lost through settlement with the chance of a future monthly pension.
4. Plan on the basis that Vietnamese periods are not currently totalized, while tracking changes.
5. Ask NPS how leaving a job, departing Korea, and reaching age 60 differ.

NPS currently also gives Vietnam-specific guidance limiting lump-sum refunds while legislation needed for totalization remains pending. Do not assume that a commonly cited E-9 or H-2 rule resolves every case. Confirm your status, contribution record, and payment ground through NPS 1355.

Actions to take now and common questions

• Obtain your individual contribution record online or from an NPS branch.
• Compare the standard monthly income in NPS records with your pay statements.
• Keep Korean and Vietnamese coverage certificates and posting or local-hire documents.
• Review your pension scenario alongside your long-term immigration plan.

GEA can organize the questions within a settlement plan and direct you to official channels, but it does not decide pension benefits or guarantee a claim. You can review the checklist through a Korea settlement consultation.

Q. Do I automatically receive a refund when I leave Korea?

No. Departure or resignation is not automatically a payment ground for everyone. Vietnamese nationals must also consider the current agreement-specific restriction, so confirm with NPS 1355 using your status and contribution record.

Q. Can I combine Korean and Vietnamese coverage now?

Not yet. The agreement is in force, but NPS marks totalization as not yet effective. Check again after the required Vietnamese legislation and implementation notice are issued.

Last reviewed: 2026-07-18 · Basis: 2026 rules · Official confirmation: Hi Korea / Immigration Contact Center 1345