The National Pension old-age pension

Korea’s old-age pension (노령연금) is paid once an insured person reaches the qualifying age and holds enough insurance service. This section covers the qualifying age, early retirement, and how the pension amount is structured, all from the National Pension Act — it does not compute an actual amount: your own A-value and B-value are individual figures the National Pension Service notifies separately.

What the old-age pension is

Korea’s National Pension old-age pension (노령연금) is paid to an insured person who reaches a qualifying age and holds enough insurance service. The age depends on year of birth, and the amount is built from a national average-income figure added to the claimant’s own average income. This section covers both — when it can be claimed, and how the amount is structured — from the National Pension Act.

This section is informational and does not compute an actual pension amount. The national average-income figure (A-value) and the claimant’s own average income (B-value) both depend on individual earnings history and are notified by the National Pension Service to each insured person separately. None of the figures here carry our own final sign-off.

Where to start

Qualifying age — the table by year of birth, and how that table is sourced.
How the amount is worked out — the basic-amount structure, and what this site does not cover.
Early old-age pension — the conditions and the reduction.
FAQ — short answers.

Qualifying for the ordinary old-age pension

You qualify once you reach the qualifying age and hold at least 10년 of insurance service. Both conditions apply together — no provision in article 61 of the National Pension Act offers a route to the pension on insurance service alone, regardless of age.