Basic Pension Eligibility Checker
Enter income and assets to estimate eligibility for Korea's Basic Pension against the 2026 threshold.
Region deductions are reference values. The result is an estimate — confirm at Bokjiro.
Who qualifies for the 2026 Basic Pension?
Korea's Basic Pension supports people aged 65 or older whose 'recognized income' is at or below a selection threshold set each year. For 2026 that threshold is 2,470,000 won per month for a single household and 3,952,000 won per month for a couple (Ministry of Health and Welfare, effective January 2026). The number is deliberately calibrated so that roughly the bottom 70% of seniors by recognized income qualify, which means being a homeowner or having modest savings does not automatically rule you out. The key point most people miss is that eligibility is judged on recognized income, not on your salary or your bank balance as they appear on paper.
What recognized income actually means
Recognized income is two things added together: your evaluated (monthly) income plus your assets converted into a monthly income figure. On the income side, earned (work) income first has a basic deduction of about 1.16 million won per month subtracted, and then the remainder is cut by a further 30%. On the asset side, your assets are reduced by deductions (including a 20 million won financial-asset deduction and a region-based basic deduction), any debt is subtracted, and only what is left is converted to income at 4% per year, divided by 12 to get a monthly figure. Because of these deductions, the recognized income that decides your eligibility is usually far lower than the raw numbers you would expect.
A worked example for a single senior
Suppose a single 65-year-old earns 2,000,000 won a month from part-time work and holds 50,000,000 won in financial assets, with no debt. On the income side: 2,000,000 minus the 1.16M basic deduction leaves 840,000, and after the 30% cut that becomes 588,000 won of evaluated income. On the asset side: 50,000,000 minus the 20M financial-asset deduction leaves 30,000,000, which at 4% per year is 1,200,000 a year, or 100,000 won a month. Recognized income is therefore 588,000 + 100,000 = 688,000 won per month, comfortably below the single-household threshold of 2,470,000 won, so this person would likely qualify. The example shows how someone who feels they 'earn too much' can still be eligible once the deductions are applied.
When this checker is worth running
- You are approaching 65 and want a rough sense of whether to bother applying before you spend time gathering documents.
- Your income or assets recently changed (you sold property, started a small job, or moved money into savings) and you want to see how that shifts your recognized income.
- You are comparing a single versus couple household situation, since the couple threshold is higher in total but lower per person than living alone.
- You want to understand which numbers matter most so you can ask better questions at a community center or National Pension Service branch.
Common mistakes and misconceptions
- Assuming your salary equals your income for the test. Earned income is reduced by the ~1.16M deduction and then by 30% before it counts.
- Thinking savings are counted won for won. Only the income converted from assets (after the 20M financial deduction and debt) counts, at 4% per year.
- Believing the couple threshold is double the single one. It is 3,952,000 won, not 4,940,000, so a couple is measured against a lower amount per person than a single household.
- Reading a single high-income month as disqualifying. The test is built on evaluated figures, not one raw pay slip.
- Forgetting the base year. Thresholds are reset every January, so a result from a previous year no longer applies.
What this estimate cannot see
- Actual screening also weighs items this tool does not model in full, such as luxury cars, expensive memberships, and imputed rent on property you let others use.
- Real-estate valuation uses region-specific basic deductions that vary by where you live, so a simplified estimate can differ from the official result.
- Household composition, changes in benefits, and other government programs can interact with the outcome.
- Treat any result here as a directional estimate only, and confirm your real eligibility through the official Bokjiro simulator or a National Pension Service branch before making decisions.
The income and asset figures you enter are calculated only in your browser and are never sent to or stored on a server.
Read the Privacy Policy →Frequently asked questions
What is the 2026 selection threshold?
For 2026 it is 2,470,000 won per month for a single household and 3,952,000 won per month for a couple. If your recognized income is at or below the figure for your household type, you may qualify. These are the Ministry of Health and Welfare's 2026 figures, effective January 2026, and they are reset each January.
How is recognized income calculated?
It is your evaluated income plus your asset-converted income. Earned income has a basic deduction of about 1.16 million won a month subtracted and is then cut by a further 30%; assets have deductions (including a 20 million won financial-asset deduction) and debt removed, with the remainder converted at 4% per year and divided by 12. This tool applies that method so you do not have to compute it by hand.
Is the couple threshold just double the single threshold?
No. The single threshold is 2,470,000 won and the couple threshold is 3,952,000 won, which is less than twice the single figure. It reflects the shared costs of a two-person household, so a couple is measured against a lower amount per person than someone living alone.
I have savings, will that automatically disqualify me?
Not on its own. Financial assets first have a 20 million won deduction applied, and only the remainder is converted to income at 4% per year before it counts toward recognized income. In the worked example, 50 million won in savings adds just 100,000 won a month, so moderate savings often leave you well within the threshold.
Can I rely on this result alone?
Use it as a reference only. Real screening considers more items, such as luxury cars, memberships, imputed rent, and region-specific deductions, that a simplified estimate cannot fully capture. Confirm your eligibility with the official Bokjiro simulator or a National Pension Service branch before you act on it.
Are my income and asset figures stored anywhere?
No. Every calculation runs entirely in your browser, and the numbers you enter are never sent to or saved on any server. You can close the page and nothing is retained.