One of the benefits of working in South Korea is the National Pension Service (NPS) being paid to all legitimate employees of a company whether you are a Korean national or a foreigner. It is a government-mandated law to every company to give the employees a pension money after he retires or inability to work anymore from his company.
NPS in Korea is similar to SSS in the Philippines. It is a social security system for all Koreans working in the private company and government institutions. Every month a certain amount of your gross income will be deducted automatically plus the share of your company. The normal share by each party is 50/50.
Before a foreign employee leaves South Korea, he will get the lump sum amount of his pension depending on the agreement between Korea and his home country. In case of Philippines and South Korea, Filipinos, as of this moment, can receive the lump sum of his NPS that will be deposited in a Philippine bank account.
However, some countries have agreement with Korean government on not to give the lump sum of NPS to their citizens. Instead of giving the lump sum, Korea NPS will only be transferred from Korea to the pension service or security service of another country.
What are the Things You need to Check your NPS Contribution?
There are some requirements you need before you can check your NPS contribution ONLINE. Here are the things you should know and have:
1. Alien Card Registration Number
2. A valid email
You only need these 2 things so you’ll be able to check your total contribution to NPS. You don’t need to pay anything, it is absolutely free of charge.
So, What is the Procedure?
You don’t need to go to an NPS office only to check your total contribution. Maybe 2 years ago, I’m receiving a letter from them containing the total amount of my contribution and the last payment made by the company. However, I didn’t receive any letter now. Perhaps because I have changed my address and I was not able to inform them.
Anyway, here is the simple and very easy steps on how to inquire your NPS total contribution via online. Make sure you have the requirements I listed above.
1. First, you must visit NPS Korea at http://english.nps.or.kr
2. Look for the Q&A tab at the right hand corner of the page. Hover your mouse to the tab and click the Q&A. The page looks like the one I pasted below. Click it to make it bigger.
3. After clicking the Question & Answer tab, a new screen will appear like the one you can see below. Click the “Write” button to start the process.
4. When you click the “Write” button, the below page will appear where you will input your name, email, Alien Registration Number, the subject of your message and the content of your message. You also need to create a password in case of verification purposes.
5. Simply complete all the information required with the correct information and then click the “Submit” button. After 1 or 2 days, your total NPS contribution will be sent to your email which you use in the inquiry.
Inquiring for Korea NPS total contribution is an easy process that you can do online without going to the NPS office. You only need your Alien Registration number and a valid email to inquire about your total contribution.