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Retirement Allowance Inquiry and Retirement Pension Receipt Methods

  • Written Language: Korean
  • Country: All Countriescountry-flag
  • Economy

Created: 2024-11-19

Created: 2024-11-19 12:13

Since 2022, the retirement benefit system has changed, and all retirement benefits are now paid into IRP accounts. Retirement benefits are no longer simply a lump sum payment but can now be managed as valuable assets for retirement.

Main Changes to the Retirement Benefit System:

  • Mandatory IRP Account:All retirement benefits are paid into an IRP account.
  • Easy Check on the Financial Supervisory Service Website:You can check your retirement benefits and unclaimed retirement pensions.
  • Receiving Application through the Account Info App:You can easily receive unclaimed retirement pensions.

Why should you manage your retirement benefits in an IRP account?

  • Retirement Preparation:You can prepare for retirement by managing your retirement benefits in the long term.
  • Tax Benefits:You can receive tax deductions for the amount you contribute to your IRP account.
  • Professional Asset Management:You can efficiently manage your retirement benefits through various financial products.

How to Check and Receive Retirement Benefits

Retirement Allowance Inquiry and Retirement Pension Receipt Methods

1. Financial Supervisory Service Website:Check your total retirement benefit amount and account information.
2. Account Info App:Check and apply for unclaimed retirement pensions.

Frequently Asked Questions (FAQ)

  • What should I do if I don't have an IRP account?
    • Your company will automatically open an IRP account for you upon retirement.
    • If you don't have an account, you can open one by visiting a nearby financial institution.
  • How do I do a mid-term settlement of my retirement benefits?
    • Mid-term settlement of retirement benefits accumulated in an IRP account is restricted.
    • If you have a special reason, you should contact a financial institution to check if a mid-term settlement is possible.
  • I can't find my unclaimed retirement benefits. What should I do?
    • You should contact your previous employer to check if your retirement benefits have been paid.
    • You can also contact the Ministry of Employment and Labor for assistance.

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