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Welfare & health

Korea's Basic Pension in 2026 — 349,700 won a month, with the eligibility ceiling for single-person households raised to 2.47 million won

In effectTakes effect: 2026-01-01
EveryoneNew citizens & PR holdersFamilies

The 2026 Basic Pension benchmark amount rose from 342,510 won to 349,700 won a month for a single-person household, reflecting the previous year's 2.1% consumer price inflation. Roughly 7.79 million people have received the higher amount since the January payment. The income ceiling that decides eligibility also rose 8.3%, from 2.28 million to 2.47 million won for single-person households, so people who were turned down last year may qualify this year.

What changes

The Basic Pension is a monthly payment to roughly the lower-income 70% of people aged 65 and over. For 2026 the benchmark amount is 349,700 won a month for a single-person household, 7,190 won above the 342,510 won paid in 2025. For a couple both receiving it, the figure rose from 548,000 won to 559,520 won, an increase of 11,520 won. The 2.1% uprating tracks the previous year's consumer price inflation and applied from the January payment.

The selection threshold that decides eligibility also rose. For 2026 it is 2.47 million won a month for a single-person household and 3.952 million won for a couple, up from 2.28 million and 3.648 million respectively — increases of 190,000 and 304,000 won, or 8.3%. A household whose monthly recognised income falls at or below that figure qualifies. The Ministry of Health and Welfare attributed the increase to a general rise in older people's income and assets: earned income among those 65 and over slipped slightly (−1.1%), but public pension income rose 7.9% and business income 5.5%, while housing and land values rose 6.0% and 2.6%.

The rising threshold has also renewed scrutiny of the scheme's design. The 2026 single-person ceiling of 2.47 million won reaches 96.3% of the 2,564,238 won standard median income for a one-person household. The actual distribution of recipients looks very different, though: as of September 2025, about 86% of recipients had recognised income below 1.5 million won. The government has said it will take a Basic Pension reform package into the National Assembly's pension reform discussions.

Who this applies to

  • People aged 65 or over who hold Korean nationality, reside in Korea, and whose household recognised income is at or below the selection threshold.
  • Those born in 1961, who turn 65 during 2026. They can apply from one month before the month of their birthday.
  • Foreign nationals are not eligible. The Basic Pension requires Korean nationality and domestic residence registered under Article 6(1) or (2) of the Resident Registration Act. This is structurally different from the National Pension, which does cover registered foreign residents.
  • Naturalised Korean citizens are eligible on exactly the same terms as anyone else. Only the age, residence and income conditions matter; country of origin and date of naturalisation carry no penalty.
  • Households supporting elderly parents are directly affected. A parent starting to receive the Basic Pension changes the household's cash flow, so it is worth checking if their recognised income sits near the threshold.
  • Recipients of the Government Employees Pension, Private School Teachers Pension, Military Pension or Special Post Office Pension, and their spouses, may be excluded.

What to do now

  1. 1If you applied last year and were rejected, check again. The single-person threshold rose by 190,000 won, so unchanged income may now clear it.
  2. 2Apply at any community service centre regardless of your registered address, at a National Pension Service branch, or online through Bokjiro (bokjiro.go.kr).
  3. 3If you were born in 1961, apply from one month before your birthday month. Applying early means payment starts in the month you turn 65.
  4. 4If mobility makes an in-person visit difficult, ask about a home-visit application service. The National Pension Service can explain what is available.
  5. 5If you are going through naturalisation and are approaching 65, confirm the dates on which your nationality and resident registration take effect. Those two dates determine when you can apply.
  6. 6The benchmark amount and the selection threshold are re-set each year by public notice. The notice on selection thresholds, benchmark amounts and recognised income calculation carries the confirmed figures for the year.

Commonly misunderstood

  • 349,700 won is a maximum, not a flat amount. What you actually receive can be lower depending on recognised income, whether both spouses receive it, and your National Pension entitlement.
  • The threshold is measured against recognised income, not plain income. Recognised income converts housing, land and financial assets into an income equivalent and adds them, so a modest wage combined with substantial assets can still exceed it.
  • The Basic Pension and the National Pension are different schemes. You can receive the Basic Pension without ever having paid National Pension contributions, and receiving a National Pension does not decide Basic Pension eligibility by itself.
  • The threshold reaching 96.3% of the one-person standard median income does not mean everyone below median income qualifies. The test remains recognised income.
  • The Basic Pension must be applied for. Turning 65 does not start payment automatically.

Official sources

The links below are official government publications. This page summarises them; always check the original before filing or applying.

Verified on: 2026-08-29

Related policy updates

This page explains a policy change and is not legal advice. Confirm how it applies to your situation with the responsible agency.

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Korea's Basic Pension in 2026 — 349,700 won a month, with the eligibility ceiling for single-person households raised to 2.47 million won