The elderly now strive for national development and sacrificed for their children, but they have not prepared for their retirement.While solving the current serious elderly poverty problem, I will introduce the basic pension system that can ease the burden on future generations and enjoy stable benefits in old age.
basic old-age pension
The national pension system has been in effect since 1988 to help the elderly live a stable retirement life, but many people have not joined the national pension because it has not been long since the system was implemented, and many people do not receive enough pension because the period is short.Therefore, a system called a basic pension was established to help the elderly live a comfortable retirement life and distribute pension benefits fairly.
basic pension eligibility
The basic pension will be given to senior citizens aged 65 or older, who have Korean nationality, and whose income recognition amount of households is less than or equal to the selection criteria.If only one of the couples applies, it is also a couple household.
Income recognition is the sum of the monthly income valuation and the monthly income conversion of property.The standard amount for selection in 2022 is 1,800,000 won for single households and 2,880,000 won for married households.If you are 65 years of age or older and the income recognition amount of a household is lower than this amount, you are eligible to receive the basic old-age pension.In principle, beneficiaries of the civil service pension, private school faculty pension, military pension, special post office pension, and their spouses are excluded from the basic pension.
Amount and method of calculating the recognized income
The basic method of calculating the recognized income is as follows.
보건복지부 홈페이지에 나와 있는 소득인정액 산정방식
Source of income recognition method: Ministry of Health and Welfare
It is very complicated and difficult for ordinary people to calculate their own income recognition.So there is a way to calculate online.If you go to the website for welfare and enter some information, you can easily calculate it.
https://www.bokjiro.go.kr/
tbu/app/main/Main
www.bokjiro.go.kr
basic old-age pension calculation method
In 2022, you can receive up to 307,500 won per month for the basic pension, but the amount you can receive varies depending on the situation.
The basic pension amount of the following persons is calculated as the standard pension amount.
Those who are not receiving the national pension (unpensioned)
Those with a monthly national pension of 461,250 won or less
National Pension Service’s survivors’ pension or disability pension
Beneficiaries of the National Basic Livelihood Security and persons receiving pensions for the disabled
Due to the relatively high income level, the income reversal prevention reduction may be applied, or both couples may receive a basic pension.
The basic pension amount of those who do not fall under the above case is calculated in consideration of the formula or the amount of national pension benefits according to income redistribution benefits.
application method for basic old-age pension
Applications can be made by visiting or online, and applications can be made one month before the month in which the 65th birthday belongs.If you are unable to apply directly, you can also apply through an agent.
Application for Visit: Office of Eup, Myeon, Dong, or nearest National Pension Service branch under the jurisdiction of the address.
Online: Welfare Road Homepage
paperwork to prepare for basic old-age pension applications
ID card (resident registration card, driver’s license, disabled registration card, passport, etc.)
When applying on behalf of the applicant, you need an ID card and a power of attorney of the applicant himself/herself and the agent.
Copy of the bankbook to which the basic pension is to be paid (account under his name)
If both couples receive a basic pension, and if both couples agree, only one copy of the bankbook can be submitted.
Spouse’s consent to provide financial information, etc.
If you have a spouse, you are subject to income and property investigation even if your spouse is not eligible to apply or does not apply.Therefore, when applying for a visit, you must bring your spouse’s consent to provide financial information.
All monthly rent agreements (only applicable)
application form for a visit
application form
common agreement on financial information, etc.
income and property declarations
application for supply and demand history management
If income and property cannot be verified with information system inquiry data, the public official in charge can request additional documents.
We looked into the subject of the basic pension, calculation method, and application method.I hope it will be helpful for those who meet the requirements.