Main Contents of the Social Security Agreement Between Korea and Philippines
History of the Agreement with Philippines
- Jul 2005 : Held the first preliminary meeting of the Agreement
- Nov 2005 : Held the second preliminary meeting of the Agreement
- Dec 2005 : Signed the Agreement
- Oct 2006 : Held the first implementation meeting of the Agreement
- Apr 2008 : Held the second implementation meeting of the Agreement
- Nov 2010 : Held the third implementation meeting of the Agreement
- Feb 2013 : Request to renegotiate the Agreement from Philippines
- Oct 2013 : Held the preliminary meeting of the Agreement and Administrative Arrangement
- Jun 2017 : Retire the signed Agreement and propose new Agreement
- Jun 2018 : Held the first preliminary meeting of the Agreement
- Nov 2019 : Signed the Agreement
- Dec 2020 : Complete domestic procedures in Korea
- Jan 2024 : Notification of completion of domestic procedures from the Philippines
- Mar 2024 : Signed the Administrative Arrangement of the Agreement
- Apr 2024 : Entry into force of the Agreement
Applicable Legislation
- In relation to Korea, National Pension Act
-
In relation to Philippines,
(ⅰ) the Social Security Act of 2018
(ⅱ) the Government Service Insurance Act of 1997
(ⅲ) the Portability Law
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 Party, and to the dependents and survivors of such a person within the meaning of the applicable legislation of either Contracting Party.
- ※ For more information, you may refer to the section Agreement
Exemption from Dual Coverage
- ① In general, an employed or self-employed person who works in the territory of one Contracting Party shall, with respect to that work, be subject only to the legislation of that Contracting Party.
- ② A detached worker is exempt from being subject to the legislation of the Party 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.
- ③ A person who is self-employed in both contracting parties is subject to the legislation of the contracting party in which he/she ordinarily resides.
- ④ A person who is employed in both contracting parties is subject to the legislation of the contracting party in which he/she ordinarily resides.
- ⑤ A person who is employed in one contracting party and self employed in the other contracting party is subject to the legislation of the contracting party in which he/she ordinarily resides.
- ⑥ A person who resides in one Contracting Party and self employed in the other Contracting Party is subject to the legislation of the Contracting Party in which he/she ordinarily resides.
- ※ For more information, you may refer to the section Agreement or Guide for Exemption Application
[ Applicable Legislation under the Agreement ]
| Type | Work Status | Coverage |
|---|---|---|
| Employee | In case working in Philippines: | |
| - Those who are employed in Philippines | Philippines | |
| - Those who are employed in Korea but are dispatched to Philippines for work for no more than 5 years | Korea | |
| - Those who are employed in Korea but are dispatched to Philippines for work for more than 8 years without the consent regarding extension of the detached period | Philippines | |
| In case working in Korea: | ||
| - Those who are employed in Korea | Korea | |
| - Those who are employed in Philippines but are dispatched to Korea for work for no more than 5 years | Philippines | |
| - Those who are employed in Philippines but are dispatched to Korea for work for more than 5 years without the consent regarding extension of the detached period | Korea | |
| Self-employed | In case running self-employed business in Philippines: | |
| - Those who ordinarily reside in Philippines as a self-employed person | Philippines | |
| - A self-employed person who ordinarily resides in Korea and works in Philippines. | Korea | |
| In case running self-employed business in Korea: | ||
| - Those who ordinarily reside in Korea as a self-employed person | Korea | |
| - A self-employed person who ordinarily resides in Philippines and works in Korea. | Philippines | |
| Others | - Those who are employed or self-employed in both countries. - Those who are employed in one Contracting Party and self-employed in the other Contracting Party. |
Ordinary residence |
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, thanks to the totalization of coverage periods in both countries.
- ① Korean National Pension Benefits under the Social Security Agreement
- - If you have more than 12 months of insured period in Korea, but do not have enough periods of coverage 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 Philippines pension system. However, these periods creditable under the Philippines pension system, must not coincide with those under the legislation of Korea.
- - 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 Philippines Pension Benefits under the Social Security Agreement
- - If you have more than 12 months of insured period in Philippines, but do not have enough periods of coverage to qualify for pension benefits under the Philippines pension system, you may be able to qualify for Philippines pension benefits by totalizing periods of coverage under the Korean and Philippines pension systems. However, these periods creditable under the Korean national pension scheme, must not coincide with those under the legislation of Philippines.
- ③ A person who resides in the territory of a Party shall receive equal treatment with nationals of that Party in the application of its legislation regarding entitlement to or payment of benefits.
- ④ Korean lump-sum refunds are granted to nationals of Philippines based on the Agreement.
※ For more information, you may refer to the section either Agreement or Guide for Benefits Application.
Agencies of this Agreement
| Korea | Philippines |
|---|---|
| (1) National Pension Service (NPS) |
|
