As the criteria for the 2026 Basic Pension support have been finalized, inquiries about the recognized income calculation method and the scope of eligible recipients continue to pour in.

Basically, the Basic Pension is paid to seniors aged 65 or older whose recognized income is below the selection criteria amount announced annually by the Minister of Health and Welfare. For 2026, the selection criteria amounts have been adjusted from the previous year to 2.47 million KRW for single-person households and 3.952 million KRW for married-couple households. This is a structure that is updated annually to reflect price and income levels.

Public Service Pension Recipients Principally Excluded… What Are the Exceptions?

Public service pension recipients—including civil servants, private school staff, military personnel, and special post office employees—and their spouses are, in principle, excluded from the Basic Pension eligibility. However, not all public service pension recipients are categorically excluded.

• The cases that are exceptionally included in the recipient scope are as follows:
• Among recipients of a linked retirement pension or linked retirement survivor's pension, those with a public service employment period of less than 10 years
• Cases where 5 years have elapsed since receiving a survivor's pension lump sum, disability lump sum, non-work-related disability lump sum, non-duty-related disability lump sum, retirement survivor's pension lump sum, or retirement survivor's lump sum

Special Provisions… Cases Where Even Public Service Pension Recipients Are Eligible Special provision targets also exist. Even public service pension recipients can receive the Basic Pension under special provisions if they meet the recognized income criteria and fall into the following categories: those born before June 30, 1949, who were eligible for the basic old-age pension under the former Basic Old-Age Pension Act; and those born before June 30, 1996, who were special provision recipients of the disability pension under Article 4 of the Supplementary Provisions of the Disability Pension Act, provided they met the recognized income criteria at the time they reached the age of 65.

How Is Recognized Income Calculated?

Recognized income is calculated by combining the 'evaluated income amount' and the 'income-converted value of assets.'

Evaluated Income Amount = 70% of the amount after deducting 1.16 million KRW from earned income + other income

Income-Converted Value of Assets = {(General Assets − Basic Asset Amount) + (Financial Assets − 20 million KRW) − Liabilities} × Asset Income Conversion Rate ÷ 12 months + P Value (Value of Luxury Vehicles and Memberships)

• The basic asset amount is applied differentially depending on the residential area.
• Large cities and special cities: 135 million KRW
• Small and medium-sized cities: 85 million KRW
• Rural and fishing villages: 72.5 million KRW

This is a point where the actual calculation results may differ depending on the residential area.

4 Things to Check Before Applying

1. Whether you or your spouse have a history of receiving a public service pension 2. If there is a history of receiving a public service pension, whether you meet the exception or special provision criteria 3. Accuracy of the basic asset amount bracket for your residential area, as well as your financial assets and liability details 4. The fact that a monthly income conversion rate of 100% is applied when holding vehicles or memberships

Since the exact recognized income amount depends on individual income and asset details, individual verification through the local community center (eup/myeon/dong) or the National Pension Service is necessary.

This article was written for the purpose of providing policy information, and actual eligibility and payment amounts may vary depending on individual income and asset situations and review results. This is an article partially assisted by AI.