Eligible contribution
Uses the smaller of your annual contribution and the combined KRW 9 million limit.
Pension/IRP Tax Credit
13th Month Bonus Planner
Calculate your tax refund based on pension savings contributions.
This is the estimated refund you'll receive.
This estimates pension account tax credits, not public pension benefits
Korean pension savings and IRP accounts can support retirement planning while creating a year-end tax credit. Enter annual salary and annual contributions to estimate the credit under the 2024-style combined KRW 9 million limit and the 13.2% or 16.5% credit rate.
Calculation basis
Credit rate
Uses 16.5% for salary up to KRW 55 million and 13.2% above that threshold.
Estimated refund effect
Eligible contribution multiplied by the credit rate gives the estimated tax credit.
How to use
- Enter annual gross salary in KRW.
- Enter the annual amount you plan to contribute to pension savings and IRP.
- Review the applied credit rate, contribution cap, and estimated tax credit.
Frequently asked questions
Does this calculate Korean National Pension benefits?
No. The mounted tool calculates pension savings and IRP tax credits. Public pension benefit estimates require contribution history, insured income, and the NPS benefit formula.
Is the KRW 9 million limit always correct?
This tool applies a simplified combined tax-credit cap. Account-specific limits and Korean tax rules can change by year.
Will I receive the full amount as a refund?
Only if you have enough tax liability. If your calculated tax is low or other credits already reduce it, the actual refund can be smaller.
This tool is a general estimate. Confirm actual tax credits and year-end settlement results with the relevant institution or tax professional.