Annuity Calculator
Calculate annuity payments and savings goals.
적립 요약
Overview
The Annuity Calculator estimates pension payouts from national pensions, personal pensions, and retirement plans. Enter the contribution period, monthly payment, and expected return rate to project your monthly and total pension benefits.
Formula
Accumulated Fund = Monthly Payment × ((1 + r)^n - 1) / r, where r = monthly return rate, n = contribution months. Monthly Pension = Fund × r / (1 - (1+r)^(-payout months)).
How to Use
- 1Enter your current age and desired pension start age.
- 2Enter the monthly contribution (or expected income).
- 3Set the expected rate of return (%).
- 4Select the payout period (lifetime or fixed term).
- 5Click Calculate to view the estimated pension payout.
Tips
- ✔Longer contribution periods and higher incomes result in larger national pension benefits.
- ✔Personal pensions (IRP, pension savings) offer tax deduction benefits worth considering.
- ✔Starting pension contributions early maximizes the compounding effect on your retirement fund.
FAQ
Q. How much can I expect from the national pension?
National pension payouts depend on your contribution period and average income. For an average earner with 20+ years of contributions, monthly payouts typically range from KRW 600,000 to 1,000,000. Check the National Pension Service website for personalized estimates.
Q. What is the difference between personal and corporate pensions?
Personal pensions (pension savings, IRP) are voluntarily set up by individuals, while corporate retirement pensions (DB or DC type) are funded by employers. Both offer tax benefits on contributions.
Q. How is pension income taxed?
Pension income is taxed at 3.3–5.5% depending on the recipient's age. Taking a lump sum instead triggers a higher miscellaneous income tax of 16.5%, making periodic pension payments more tax-efficient.
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