You may qualify for a pension under the terms of the Agreement, if you do not have sufficient Irish contributions to qualify for an Irish pension or sufficient Korean contributions to qualify for a Korean pension.
Under the Agreement you may qualify for an Irish pro rata pension based on your combined Irish and Korean contributions, provided you have at least 52 Irish PRSI contributions paid or credited.
You may also qualify for Korean pro rata pension provided you have at least 12 months' contributions under Korean legislation.
It is possible for a person to qualify for payment from both countries at the same time.
We use the following formula to calculate the rate of pro rata pension payable from Ireland
Total number of Irish Contributions
Amount of pension due if all the contributions were made in
Ireland and then divided by
Total combined contributions in Ireland and Korea.
If you had 5 years reckonable Irish PRSI contributions and 20 years Korean contributions you will get 1/5th of the Irish State Contributory pension that would be payable if all the 25 years contributions were Irish.
The above calculation is based on the appropriate personal rate of pension, including an increase for a Qualified Adult (if applicable), increases for qualified children, the over 80 Allowance, and living alone are payable in full.
Entitlements to Bereavement Grant and Guardian's Payment (Contributory) are paid in full.