Pension savings and IRP tax credit: what a top-up by Dec 31 is worth
The pension account credit applies to up to ₩6,000,000 in pension savings (연금저축), and ₩9,000,000 including a retirement account (IRP).
What you can still decide by Dec 31
- With salary only, total pay up to ₩55,000,000 gets 15%. Above that it is 12%.
- Only deposits made this year count this year. See how much room is left.
- Which bank or product you use makes no difference to the credit. We don't recommend any.
Start here
Based on money spent and paid in 2026. Your employer settles it in early 2027.
Annual pay minus tax-free allowances (총급여). Include December pay and any year-end bonus.
Pension savings and IRP
Only what you put in yourself, not your employer's retirement contributions.
Extra you plan to add by Dec 31 (₩)
Pension account tax credit
Enter your total pay to see results.
This is an estimate. Your actual tax is set by Hometax year-end data (간소화 자료) and your employer's settlement. This is not tax advice or filing on your behalf.
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Statutes
The statute text below was fetched from the Korean Law Information Center API on 2026-09-25. Every rate and limit comes from it. The text is in Korean, as published.
Income Tax Act Article 59-3 (Pension Account Tax Credit), Paragraph 1
Law serial no. 280405 / in force 2026-01-01 / Checked 2026-09-25
① 종합소득이 있는 거주자가 연금계좌에 납입한 금액 중 다음 각 호에 해당하는 금액을 제외한 금액(이하 "연금계좌 납입액"이라 한다)의 100분의 12[해당 과세기간에 종합소득과세표준을 계산할 때 합산하는 종합소득금액이 4천 500만원 이하(근로소득만 있는 경우에는 총급여액 5천 500만원 이하)인 거주자에 대해서는 100분의 15]에 해당하는 금액을 해당 과세기간의 종합소득산출세액에서 공제한다. 다만, 연금계좌 중 연금저축계좌에 납입한 금액이 연 600만원을 초과하는 경우에는 그 초과하는 금액은 없는 것으로 하고, 연금저축계좌에 납입한 금액 중 600만원 이내의 금액과 퇴직연금계좌에 납입한 금액을 합한 금액이 연 900만원을 초과하는 경우에는 그 초과하는 금액은 없는 것으로 한다. 1. 제146조제2항에 따라 소득세가 원천징수되지 아니한 퇴직소득 등 과세가 이연된 소득 2. 연금계좌에서 다른 연금계좌로 계약을 이전함으로써 납입되는 금액
Original text (law.go.kr)Local Tax Act Article 103-13 (Duty of Special Collection), Paragraph 1
Law serial no. 282559 / in force 2026-01-01 / Checked 2026-09-25
① 「소득세법」 또는 「조세특례제한법」에 따른 원천징수의무자가 거주자로부터 소득세를 원천징수하는 경우에는 대통령령으로 정하는 바에 따라 원천징수하는 소득세(「조세특례제한법」 및 다른 법률에 따라 조세감면 또는 중과세 등의 조세특례가 적용되는 경우에는 이를 적용한 소득세)의 100분의 10에 해당하는 금액을 소득세 원천징수와 동시에 개인지방소득세로 특별징수하여야 한다. 이 경우 같은 법에 따른 원천징수의무자는 개인지방소득세의 특별징수의무자(이하 이 절에서 "특별징수의무자"라 한다)로 한다.
Original text (law.go.kr)
Source: Korean Law Information Center, Ministry of Government Legislation. Amendment tags removed.
What this leaves out
Things we couldn't confirm in the text, or that this tool doesn't compute. Listed by name.
- Housing loan and housing savings deductions (Income Tax Act Art. 52(4) and (5)) aren't computed. If you get them, the itemized tax on the summary page would be lower.
- What counts as a medical expense is set by decree. We don't list it; enter the amounts from Hometax.
- We don't check national housing size or standard price. The conditions are quoted from the text only.
- Hometown Love thank-you gifts: we couldn't confirm the rule, so it's not here.
- The extra limit for moving a matured ISA into a pension account (Art. 59-3(3) and (4)) isn't included.
- Insurance, education, other donations and personal allowances are not computed.
- Spending that doesn't count, like buying a car (Art. 126-2(4)), should be left out when you enter amounts.
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