Main Contents of the Social Security Agreement Between Korea and India

History of the Agreement with India

• December 2009 : Held the first working-level meeting of the Agreement in India
• October 2010 : The Agreement on Social Security and Protocol signed in Korea
• May 2011 : Held the meeting for the Administrative Arrangement of the Agreement in Korea
• June 2011 : Held the meeting for the implementation of the Agreement in India
• July 2011 : Held the Administrative Arrangement of the Agreement signed in Korea
• November 2011 : The Agreement on Social Security entered into force

Applicable Legislation

• in relation to Korea,
  • (i) the National Pension Act and its regulations
• in relation to India,
  • the legislations and regulations concerning:
  • (i) the old age and survivors’ pension for employed persons;
  • (ii) the permanent total disability pension for employed persons

Personal Scope of this Agreement

• This Agreement shall apply to any person who is or who has been subject to the legislation of either Contracting State, and to the dependents and survivors whose rights are derived from such a person.
• ※ For more information, you may refer to the section Agreement

Exemption from Dual Coverage

• ① In general, an employee is subject to the legislation of a contracting country in which he/she is employed.
• ② A detached worker is exempt from being subject to the legislation of the country which he/she is sent to for no more than 5 years if he/she is covered under the legislation of his/her home country.
• →Based on the mutual agreement between the two countries, those periods can be extended.
• ※ For more information, you may refer to the section Agreement or Guide for Exemption Application

[ Applicable legislation under the Agreement ]

Applicable legislation under the Agreement

Type	Work Status	Coverage
Employee	You are working in India
	- for an employer in India who hired you	India
	- for an employer in Korea who sent you to work in India for no more than 5 years (Based on the mutual agreement between the two countries, those periods can be extended.)	Korea
	- for an employer in Korea who sent you to work in India for more than 5 years without extension of detached period	India
	You are working in Korea
	- for an employer in Korea who hired you	Korea
	- for an employer in India who sent you to work in Korea for no more than 5 years (Based on the mutual agreement between the two countries, those periods can be extended.)	India
	- for an employer in India who sent you to work in Korea for more than 5 years without extension of detached period	Korea

Benefits under this Agreement

• Even though your periods of coverage in one country are not sufficient to qualify for pension benefits, you may be eligible for benefits after this Agreement has entered into force. This is possible due to totalizing the coverage of both countries.
• ① Korean National Pension Benefits under the Social Security Agreement
• - If you have periods of coverage under the Korean National Pension Scheme but do not have enough periods of coverage, e.g. 20 years for Full Old-age pension, to qualify for pension benefits under the Korean National Pension Scheme, you may be able to qualify for Korean National Pension benefits by totalizing periods of coverage under the Korean and Indian pension systems. However, these periods creditable under the Indian pension system must not coincide with those under the legislation of Korea.
  - If you do not qualify for Korean National Pension benefits by totalizing periods of coverage of both contracting countries, you may be able to qualify for Korean National Pension benefits by totalizing periods of coverage accumulated under the legislation of a third state with which both contracting countries are bound by social security instruments which provide for the totalization of periods.
  - Your benefit is calculated by dividing the Korean periods of coverage by the total periods of coverage and then multiplying by the benefits amount (Theoretical Benefit). The benefits amount (Theoretical Benefit) is calculated based on the total periods in both countries.
• ② Indian Pension Benefits under the Social Security Agreement
• - If you have periods of coverage under the Indian Pension Scheme but do not have enough periods of coverage to qualify for pension benefits under the Indian Pension Scheme, you may be able to qualify for Indian pension benefits by totalizing periods of coverage under the Korean and Indian pension systems. However, these periods creditable under the Korean National Pension Scheme, must not coincide with those of under the legislation of India.
  - If you do not qualify for Indian pension benefits by totalizing periods of coverage of both contracting countries, you may be able to qualify for them by totalizing periods of coverage accumulated under the legislation of a third state with which both contracting countries are bound by social security instruments which provide for the totalization of periods.
• ③ A person who is or has been subject to the laws of one contracting country and the dependents or survivors whose rights are derived from such a person receive equal treatment with the nationals of the other contracting country in the application of the laws of the other contracting country.
• ④ Korean lump-sum refunds are granted to Indian nationals based on the Agreement. However, lump-sum refunds can be paid to nationals of a third state only in accordance with the reciprocity principle under the Korean National Pension Act.
• ⑤ Based on the Agreement, Korean nationals can withdraw the full amount standing to the credit of an employee in the Indian EPF before age 58 and can be granted the EPS withdrawal benefit.
• ※ For more information, you may refer to the section Agreement or Guide for Exemption Application

Agencies of this Agreement

Agencies of this Agreement

Korea	India
National Pension Service (NPS)	Employees' Provident Fund Organisation(EPFO): http://www.epfindia.gov.in