Self-Employed Pension Calculator
Optimal pension strategy for business owners
Calculate the optimal combination of National Pension, Pension Savings, and IRP for self-employed and freelancers. Check tax benefits and expected pension at a glance.
๐ช Self-Employed Pension Features
Self-employed pay 9% of income to National Pension entirely by themselves. However, by utilizing Pension Savings and IRP, you can get tax credits up to 7 million won, combining tax savings and retirement preparation. For self-employed with irregular income, pensions provide stable retirement income.
๐ง Pension Calculator
Expected Monthly Pension
2,266,033์
Income Replacement: 64.7%
National
840,000์
Private
1,426,033์
๐๏ธ National Pension
๐ฐ Private Pension
๐ Income Replacement Analysis
Recommended: 70%+ replacement
โ ๏ธ Need additional 183,967 monthly.
๐ก Pension Savings Comparison
| Monthly | Tax Credit/yr | Accumulated | Monthly Payout |
|---|---|---|---|
| 100,000์ | 198,000์ | 1.14์ต์ | 475,344์ |
| 200,000์ | 396,000์ | 2.28์ต์ | 950,688์ |
| 300,000์ โ | 594,000์ | 3.42์ต์ | 1,426,033์ |
| 400,000์ | 660,000์ | 4.56์ต์ | 1,901,377์ |
| 500,000์ | 660,000์ | 5.70์ต์ | 2,376,721์ |
Pension Calculation Result
Monthly 2,266,033์
โจ National 840,000 + Private 1,426,033Income replacement 64.7%
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Note
This is an estimate. Actual pension amounts vary based on contribution history. Contact the NPS (1355) for accurate information.
๐ Pension Calculation
National Pension = Monthly Income ร 9% (self-paid)
Tax Credit = (Pension Savings 4M + IRP 3M) ร 16.5%
Max Tax Credit = 7M ร 16.5% = 1.155M KRW
๐ How to Calculate
- Enter monthly average business income
- Check current National Pension payment
- Enter Pension Savings/IRP contribution plan
- Review expected tax credits and pension
- Build optimal pension portfolio
๐ Self-Employed Tax Credit Simulation
| Annual Income | Pension Savings | IRP | Credit Rate | Refund |
|---|---|---|---|---|
| Under $33K | $3,300 | $2,500 | 16.5% | $957 |
| $33K-$46K | $3,300 | $2,500 | 16.5% | $957 |
| Over $46K | $3,300 | $2,500 | 13.2% | $766 |
| Over $83K | $2,500 | $2,500 | 13.2% | $660 |
๐ก Self-Employed Pension Strategy
- Extend coverage period with voluntary National Pension
- Fill Pension Savings 4M first, then add IRP 3M
- Maintain minimum contribution in low-income years
- Additional deductions with Small Business Mutual Aid
- Keep Pension Savings after closure for compound effect
โ FAQ
If you have business income, enrollment is mandatory. However, if income is very low or none, you can apply for payment exemption.
Enroll in both. Small Business Aid offers income deduction (max 5M), while Pension Savings offers tax credit (max 4M) - different benefit structures.
National Pension coverage continues, and Pension Savings/IRP remain if not terminated. Contributions become optional after closure with no income.
๐ Local Method & Assumption Guide
Formula Logic
Core formulas use public finance, loan, ratio, and unit conversion standards.
Source Scope
References follow publicly available standards and country-level common practices.
Assumptions
Taxes, fees, rates, and limits vary by region and institution.
Result Interpretation
Use this result as a baseline scenario. For decisions, compare with your lender quote and local tax treatment.
Locale Preset
Currency: USD
Units: imperial
Tax logic: US payroll estimate
Regulatory Note
This tool uses regional presets for estimation. Contract terms and legal limits may differ by lender, bank, or local law.
Recommended Next Actions
- Compare at least 2-3 local providers before final submission.
- Re-check fees, tax treatment, and prepayment clauses in writing.
- Run a stress scenario with +1-2% interest and lower income.
Before a real financial decision, confirm with local institution rules.