The general coverage criteria for the National Pension are age and residence, not income. All residents in Korea over 18 and under 60 years of age, regardless of their income, are covered under this Scheme. Accordingly, foreigners over 18 and under 60 years of age residing in Korea are covered under the Scheme except for special cases.
The Scheme is mainly financed by contributions paid by insured persons and their employers. The contribution of Workplace-based Insured Persons is equally shared by the employer and the employee (the Insured Person).
For details, please contact National Pension Company(www.npc.or.kr)
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