Pension & IRP Tax Saving Calculator
Calculate year-end tax refunds for Pension Savings and IRP contributions up to 9M KRW based on income bracket
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Optimize retirement account tax savings. Calculate refunds for Pension Savings and IRP deposits, and get guides on additional deposits required to reach max savings.
How to use
- Choose income type (Salary or Business) and enter your annual income.
- Input your annual contributions to Pension Savings and IRP respectively.
- Check your tax refund rate (13.2% vs 16.5%) and see additional amounts needed for maximum credit.
FAQ
- How do Pension and IRP limits combine?
- Pension savings deduction is capped at 6 million KRW individually, while the combined limit with IRP is 9 million KRW. Depositing 6M in pension savings and 3M in IRP maximizes the benefit.