Pension vs IRP Calculator

Compare retirement-account scenarios using contributions, tax relief, fees, return, and downside assumptions.

Pension savings versus IRP

Compare Korean pension savings and IRP contributions, tax credits, accumulation, and pension payout with the Korean retirement-account engine.

Total tax credit

₩29,700,000

Combined future balance

₩300,176,609

₩208,315,513 pension + ₩91,861,096 IRP

Additional IRP saving

₩495,000

Extra credit versus pension-only

Monthly pension estimate

₩1,181,945

Starts at age 55

Annual net pension

₩14,183,344

Warnings

1

본 계산 결과는 예상 수익률 기반 추정치이며, 실제 투자 수익과 세금은 달라질 수 있습니다. 세법 변경 시 결과가 변동될 수 있습니다.

Preserves Korean pension-savings and IRP credit limits, 16.5%/13.2% credit rates, IRP safe-asset assumptions, and pension income tax at payout. This English finance calculator calls the Korean feature lib for its numeric result. KRW inputs and outputs replace the old generic USD projection stub for this batch.

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Pension savings vs IRP calculator

This English guide translates the Korean pension savings versus IRP comparison. The calculator calls calculatePensionVsIrp and compares tax credit, investment constraints, liquidity, fees, and retirement payout value.

Tax-credit basics

Korean pension savings and IRP both provide tax credits for retirement saving, but the usable limits differ. Pension savings alone can usually receive credit up to KRW 6 million, while pension savings plus IRP can receive credit up to KRW 9 million.

The credit rate is 16.5% for lower-income cases and 13.2% for higher-income cases, including local income tax. Funding all KRW 9 million at 16.5% can produce KRW 1,485,000 of credit; at 13.2% it can produce KRW 1,188,000.

Product and liquidity differences

Pension savings is often easier for fund and ETF allocation and has fewer mandatory safe-asset constraints. IRP can include retirement-pay resources and has broader tax-credit room, but investment restrictions and withdrawal rules can be tighter.

The Korean page treats liquidity as a real decision factor, not just return. Pension accounts are designed for retirement income after age 55, and early withdrawal can trigger unfavorable taxation.

How the calculator compares accounts

The English calculator exposes annual amount, expected return, fee, income type, current age, retirement age, and account mix while delegating the math to the Korean lib. It reports credit, estimated future value, and relative advantage.

Use it with the pension tax-credit allocation page when deciding how to split contributions. The result is a planning comparison and should be checked against actual bank, securities, and insurer account fees.