Starting in 2026, the number of seniors turning 65 who are newly included in the basic pension application target will increase significantly. Since the basic pension is only paid upon application even if eligibility requirements are met, it is essential to determine in advance whether you qualify.

Application Eligibility and Timing

The basic pension is paid to Korean nationals aged 65 or older residing in South Korea whose recognized income falls below the government-established selection threshold. In 2026, those born in 1961 will be newly included in the application target.

Applications can be submitted starting one month before the month in which the applicant turns 65. For example, if the birthday falls in April, applications can be filed starting in March. Since delayed applications may result in later payment, advance preparation is recommended.

Recognized Income: The Key Determinant of Eligibility

The core criterion determining eligibility is the recognized income amount. It is calculated by combining not only actual income such as employment income and pension income, but also amounts converted from assets such as housing, land, and financial assets according to a prescribed method.

The selection threshold is applied separately for single-person households and couple households. Even if only one spouse applies, the couple household standard may apply, so it is important to verify the criteria appropriate for your household type.

Those who receive large National Pension payments or own high-value real estate, automobiles, memberships, or other specific assets above certain thresholds may see their recognized income increase, potentially excluding them from eligibility. Conversely, employment income is calculated with a certain amount deducted.

Advance Verification Through Simulation

Eligibility can be checked in advance through the government's simulation service. By selecting the basic pension simulation from the welfare service menu on the 'Bokjiro' website and entering income and asset information, you can view estimated results. However, simulation results are for reference only and may differ from the actual review outcome.

Application Methods

Applications can be submitted by visiting the local administrative welfare center or a National Pension Service branch office with jurisdiction over your address, or online. For proxy applications, the relevant delegation procedures and required documents must be completed.

Experts advise that since the basic pension is a representative welfare system that operates on an application-based principle, those who may be eligible should review the qualification requirements and submission documents before their birthday and ensure they apply within the deadline.

[This article was written with AI assistance. It was produced for informational purposes to explain the system, and actual eligibility and payment amounts may vary depending on individual income and assets, household type, relevant laws and regulations, and the final review results of the Ministry of Health and Welfare. For more details, please refer to the latest guidance from Bokjiro, the Ministry of Health and Welfare, and the National Pension Service.]