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Commencement of the Australia-Korea Social Security Agreement
The Australia-Korea Social Security Agreement commenced on 1 October 2008.
Making a Claim
Information on how Australians can make claims under the agreement and relevant forms will be available through the Centrelink website (www.centrelink.gov.au). Centrelink International Services will also accept enquiries by reverse-charge call to +61 3 6222 3455 from Korea, or a local call to 13 1673 from any location in Australia.
Local offices of the Korean National Pension Service will also be able to provide advice on claiming a pension or refund under the agreement.
• Centrelink factsheet on the Australia-Korea Social Security Agreement
• Information on claiming an overseas pension through Centrelink
• Introduction to the agreement from the Department of Family, Housing, Community Services and Indigenous Affairs (FaHCSIA)
• Background on the agreement from FaHCSIA
• The text of the agreement
• Information and forms for claiming a lump-sum refund of contributions from the Korean National Pension Service
Australia-Korea Social Security Agreement
Thousands of Australians who have worked in Korea and paid contributions to the Korean pension scheme will benefit from the recently-signed Australia-Korea Social Security Agreement. When the agreement commences, Australians who are working or have worked in Korea will be able to receive a lump-sum refund of their social security contributions or have access to a Korean old-age pension.
Under the agreement, Korea has agreed to refund contributions made by Australian nationals, in much the same way Australia refunds Superannuation Guarantee contributions for non-residents who have worked for a temporary period in Australia.
The refunds will benefit those who have worked in Korea for only a few years and who would not be eligible for a Korean old-age pension, such as English language teachers. Lump-sum refunds will be retrospective.
The agreement will also help former Australian residents of age pension-age living in Korea, who will be able to claim a pension without having to return to Australia.
In addition, the agreement will mean people who are sent to work temporarily in Australia or Korea won’t have to contribute into two social security systems.
These provisions will reduce costs for business in both countries and promote closer economic relations between Australia and Korea.
The Australian Government is committed to maximising the retirement income of people who have lived and worked in other countries through its network of social security agreements.
In addition to its agreement with Korea, Australia has social security agreements in place with Austria, Belgium, Canada, Chile, Croatia, Cyprus, Denmark, Germany, Ireland, Italy, Malta, the Netherlands, New Zealand, Norway, Portugal, Slovenia, Spain, Switzerland and the USA. Agreements with Finland, Greece and Japan have also been signed but have not yet come into force.