In today’s post, I will take the time to explain in detail the three methods of canceling the national pension, the conditions, and the phone number in detail and in an easy-to-understand manner.
The National Pension System is a system that allows Korean citizens to join, pay monthly premiums, and receive a pension when they reach the age of retirement.
Can we cancel the National Pension, the representative pension system in Korea?
First of all, it is not possible to cancel the national pension arbitrarily.
However, there are exceptional conditions that can be canceled.
Below, we will discuss the conditions and methods of canceling the national pension in detail.
Other tips from this blog
6 Steps to Issuing National Pension Enrollment Certificate
7 ways to calculate and increase your National Pension receipt
National Pension Payment Amount Inquiry and 2 Calculation Methods
5 ways to make additional and additional payments to the National Pension Service (including restrictions)
Open Table of Contents
Conditions for canceling the National Pension
loss of nationality
emigration
Member’s death (survivors’ pension X)
When the payment period is not met
3 ways to cancel the National Pension
Cancellation is possible in the case of failure to meet the payment period as above, or in unavoidable circumstances such as immigration or death. 국민연금 해지 방법
1. Loss of nationality and migration abroad 좋은뉴스
If you lose your nationality or move abroad, you can cancel your National Pension.
In the event of the above circumstances, you can request a lump-sum payment from the National Pension Service to receive a lump-sum payment.
It is important to note that the refund does not happen automatically, but you must submit an application for lump-sum payment to the Corporation within 5 years of the occurrence of the cause.
If you do not apply within 5 years of the occurrence of the cause, you will have no choice but to receive the pension later.
Among the application methods, you can apply by fax or phone only if the amount to be paid does not exceed KRW 1.5 million.
If the amount is more than that, you must visit the branch of the National Pension Service in person to apply.
When applying, the documents required in common include an identification card, a claim for lump-sum refund, a seal or signature, and a savings account for the beneficiary.
The remaining additional documents vary slightly depending on the reason.
Two ways to extend the period of application for unemployment benefits and the period of receiving them – click here
National Pension – Loss of Nationality – Overseas – Migration
Loss of nationality and emigration
2. When the member’s death or survivor’s pension does not meet
If a member of the National Pension Plan dies and it is not included in the conditions of the survivor’s pension, it can be cancelled.
In this case, as the national pension is canceled, the heirs can receive the lump sum payment including principal and interest.
Hearing Aid for the Elderly How to Apply for State Subsidy and 3 Benefits – Click Here
National Pension-Participant-Death-Survivors’ Pension
Member’s death and survivor’s pension
3. At the age of 60, when the payment period (10 years) is not met
Basically, under this system, you can receive the National Pension from the age of 65 only after you have completed the 10-year payment period until you are 60 years old after 1969.
If you do not meet the 10-year period requirement by age 60, you can receive a lump-sum payment at age 60.
Of course, even in this case, based on the Bank Act on January 1 of each year, you will receive the principal along with the average interest rate applied.
If you have not canceled your pension, please refer to this article if you are curious about how to check your National Pension Receiving Age and Expected Receiving Amount.