I would like to learn about the national pension extra payment system (additional payment) and method. There are several things you can do to increase the amount you can receive from the National Pension Plan. Today, I’m going to take the time to find out about the chunab system.
Additional payment to the national pension
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What is the national pension extra payment system?
The additional payment system for the national pension is usually referred to as the additional payment system. During the period of job change or unemployment, paying the national pension is inevitably burdensome. This payment exception period can be recognized by paying later. As the length of time increases, the amount of pension benefits also increases.
The National Pension Supplemental Payment System is a system that extends the subscription period by paying later the fees for the period in which you have not paid due to career interruption, business closure, or job loss.
The longer the non-payment period, the higher the amount will be. In this situation, it can be a considerable burden to make additional payments to the national pension. The advantage of the extra payment system is that it is possible to pay in installments. Paying in installments can reduce the burden.
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Qualifications
It is compulsory to pay insurance premiums at a young age, but in certain exceptional circumstances it is not necessary to pay. These people have no choice but to have a blank period, and what helps them fill this part is called the later payment system, or extra payment for short.
Representatively, spouses who have been living as housewives, those who have applied for an exemption from payment due to lack of income, and those who have served in the military are eligible. Those who fall under this category can increase their pension benefits using the system if they satisfy at least one of the two conditions below.
Current workplace subscribers, local subscribers
Voluntary Enrollment or Voluntary Continued Enrollment
In other words, those who are receiving a pension after reaching the age of 60 cannot use this.
National pension extra payment
Payment exceptions and exclusions
In order to apply for the national pension deferred payment system, you must first check whether there is a history of payment exceptions and application exclusions. The definition of payment exclusion and application exclusion period is as follows.
-Payment exemption period: The period during which you are enrolled in the national pension, but cannot pay your bills because you do not have income
– Excluded period: A period excluded from application due to career interruption, etc., even though the fee has been paid for even one month
Even if there are payment exceptions and application exclusion periods, you cannot apply for all applicable periods. You can apply for extra payment only up to 119 months.
We will tell you how to check the possible payment exceptions and exclusion period for my extra payment application when I share the application method for extra payment later.
Meanwhile, please note that you can apply for additional payment of the national pension while you are enrolled in the national pension.
When applying for additional payment of the National Pension, the standard fee for calculation is the amount obtained by multiplying the fee at the time of application by the number of months to be paid. Let’s find out how much the extra payment fee comes out through an example.
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If you are paying 90,000 won per month at the time you apply for extra payment, and the application period for extra payment is 12 months, you can pay 90,000 won X 12 months = 1.08 million won.
However, the extra payment for a voluntary subscriber cannot exceed 9% of the value of A. A value is 2,681,724 won as of 2022. 9% of this amount is approximately KRW 241,355. In other words, the additional payment for a voluntary subscriber cannot exceed KRW 241,355.
You can either pay in a lump sum or pay in installments. Installment payments can be made up to 60 times. However, when paying in installments, you must pay the fixed deposit plus interest. Currently, the interest on time deposits in the five major banks is all in the 3% range.
Payment method
The premium can be paid in full in one lump sum, or if the amount is large, it can be paid in up to 60 monthly installments.
For the convenience of insurance premium payment, the NHIS has various payment convenience systems such as payment over the counter through bills, Internet, CD/ATM, and virtual account payment.
It is possible to pay in installments depending on the period to be paid later. It is possible to pay in installments up to 3 times for less than 1 year, 12 times for between 1 year and less than 5 years, and up to 24 times for more than 5 years. possible)
Subject period and type of extra payment
Non-income spouse, etc. Excluded period after payment of pension insurance premium for 1 month or more Due to business suspension or job loss
Payment exemption period, military service period after January 1988 (except for the period enrolled in public pension), due to missing for more than 1 year
The period in which the subscription history was cut off due to loss of national pension qualifications