[Korea goyounghun financial newspaper reporters] go beyond the pension savings receipts are subject to a 12 million won Income Tax. In order to avoid other income received it is preferable to divide the pension.
The FSS announced 13 days the pension savings tax know-how, and told reporters.
For the pension received from pension savings and pensions (additional payment made yourself) it is subject to income tax pensions (3.3 ~ 5.5%). However, if you exceed the annual pension is 12 million won is imposed instead of a pension annuity income Comprehensive income for the whole (6.6 ~ 44% combined tax). So check out the pension does not exceed the annual total of 12 million won good to adjust the time or receipt of pension collection period.
However, 12 million won limit When calculating with the exception of public pensions, retirement pensions, old private pension you receive in severance pay is paid at not receiving income, tax deductible if the pension savings. Retirement (his additional payment made) pension is the limit not included. The subscription type and expected pension benefits are available through a unified portal for pension information site 'fine' to the FSS operations.
Division must receive more than 10 years to receive a pension or retirement savings are subject to a lower pension income or retirement income tax exemption. If you decrease the period of less than 10 years pension receipts are more likely to exceed the limit receipt of tax law, tax or other levy gotta retirement income for 100% of the amount exceeding the limit you can see the damage.
If pension savings valuation (reserves) inde a 40 million won four years division received (10 million won a year) it is for me the tax on the total 5.11 million won, should be more to pay 2.91 million won more if you split receipt (4 million won per year) for 10 years.
In addition the pension income tax law is more the pension age at the time of the subscriber lower tax rate. Therefore, subscribers can not afford to reduce taxes paid by slowing the pension period. The pension is 20 years, when 55-year-old age pension commencement tax totaled 3.135 million won, but it can save ₩ 495,000 to ₩ 2,640,000 yen When 65-year-old age pension start.
This is because after 65 years was 5.5%, 4.4% from 79 to 70 years to count, from 80 years old until 85 years old to apply a lower rate of 3.3%.
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