I have been contributing to the Korean National Pension (국민연금) for several years and am now leaving the?

The National Pension lump-sum refund (반환일시금) for foreigners depends entirely on whether your home country has a totalization agreement or refund agreement with Korea. If your country is on the refund list (USA, Canada, India, Indonesia, Philippines, Thailand, Sri Lanka, and many others), you can claim back your full contributions plus interest when you leave Korea permanently. Countries with totalization agreements (UK, Germany, France, Japan, Australia, etc.) allow you to combine pension years between Korea and your home country instead of refunding, but no cash withdrawal is possible.

If you're eligible, file the lump-sum refund request at any National Pension Service branch (find via nps.or.kr) within 5 years of departure. Required documents: passport, ARC, departure flight ticket, foreign bank account details for transfer, and Form NPS-09. The amount is your total contributions (typically 4.5 percent of monthly salary you paid plus 4.5 percent your employer paid) plus interest at the prevailing rate. Processing takes 4 to 6 weeks and they can deposit directly to your foreign bank, or you can keep your Korean account open until refund clears. Tax of about 6 to 22 percent is withheld depending on your home country tax treaty. The 1355 NPS hotline has English support, and the Seoul Global Center offers free assistance with the paperwork. Don't close your Korean bank account until you've received the refund. If you've contributed for 10+ years, you have the option to keep contributions and receive a Korean pension at age 60 instead, which can be a better deal for high contributors.