MoneyLog｜부동산·경제 인사이트

🇰🇷 한국어

1. 도입부
2. 주택연금이 필요한 이유(세대·가족 변화)
3. 주택연금 가입 요건 3가지
4. 연금액 산정 기준 및 실제 예시
5. 우대형 주택연금(조건·혜택)
6. 주택담보대출 있을 때 가입 가능 여부
7. 연금 지급 방식 및 최적 가입 시기
8. 배우자 생존 시 연금 유지 구조(저당권 vs 신탁)
9. 부부 사망 후 상속·세금·자녀 부담
10. 정리 & 마무리

| Introduction

As people enter their mid-50s and 60s, many begin asking themselves a familiar question: “Is there a way to keep living in my home and still enjoy a more stable retirement?” Relying on children no longer feels comfortable, yet pension savings alone don’t always cover rising living costs. Before long, the home you’ve built over a lifetime becomes your most reliable asset.

This is why many are revisiting the option of a home pension—a system that lets you stay exactly where you are while turning part of your home’s value into steady monthly income. If you’ve been wondering whether this program is right for you or whether there’s anything you might be missing, this guide will help you understand the essentials and make a confident decision.

| Why the Home Pension Matters

Many people in their 50s and 60s face a similar reality: it has become difficult to depend on their children, yet the cost of living continues to rise. Retirement is lasting longer than expected, and monthly expenses—housing, food, medical care—keep increasing.

In the past, simply owning a home felt like enough security. But today, the financial demands of daily life mean that a house alone doesn’t guarantee a comfortable retirement.

For many, the only significant asset left is their home. The challenge is deciding how to use it: selling can be risky because you still need a place to live, but keeping it as is may leave you short on monthly cash flow.

This is where the home pension becomes meaningful. It lets you stay in your home while turning part of its value into a steady monthly income—bringing stability and peace of mind during retirement.

| 3 Eligibility Requirements

The home pension has no income requirement. However, you must meet the following three conditions to apply.

1) Age Requirement

At least one spouse must be 55 years of age or older. The applicant’s age directly affects the monthly pension amount.

2) Property Value Requirement

The combined official appraised value of all homes owned by the couple must be 12 billion KRW or less. Even if you have other assets, only the home’s official value is considered for eligibility.

3) Residency Requirement

You must physically reside in the home used for the pension. Rental or investment properties are not eligible.

| Enhanced Home Pension

The enhanced version of the home pension provides increased monthly payments for seniors who meet specific requirements. It is designed to support low-income households more effectively.

1) Eligibility

You must meet both of the following conditions:

• Be a Basic Pension recipient
• Live in a home with a market value under 200M KRW

2) Benefits

The enhanced home pension increases monthly payments by up to 20% compared to the standard plan.

| Joining with an Existing Mortgage

You can still apply for the home pension even if you have an existing mortgage. However, the monthly pension amount may be significantly reduced.

1) Mortgage Must Be Cleared First

The Housing Finance Corporation will first pay off your existing mortgage when you join. The repayment amount is then deducted from your future pension benefits.

2) Best to Join After Clearing the Loan

If possible, paying off the mortgage before joining will result in a much higher monthly pension and a more efficient financial outcome.

| Payment Options & Best Time to Apply

Home pension offers different payment structures, with most applicants opting for lifetime payments for maximum stability.

1) Payment Options

• Lifetime Payments
Monthly payments continue until the subscriber passes away. This is the most preferred option, chosen by more than 90% of applicants.

• Lifetime Mixed Type
Allows partial lump-sum withdrawal, followed by lifetime monthly payments.

2) Best Time to Apply

The ideal age range is generally mid-60s to early 70s. If housing prices are expected to decline, applying earlier may be more advantageous since the home’s value is fixed at the time of application.

| Mortgage vs Trust Structure

Even if one spouse passes away first, the surviving spouse continues to receive the same monthly pension for life. However, the stability of this benefit depends on the structure used: the traditional mortgage method or the trust method.

1) Mortgage-Based Structure

Under this method, a mortgage is placed on the property. When the homeowner dies, inheritance begins immediately, which creates risks:

• Children may claim inheritance shares
• Disputes may lead to pension suspension
• Surviving spouse may lose payment protection

2) Trust-Based Structure

To prevent these issues, the trust system was introduced. Ownership is transferred to the Housing Finance Corporation, while the couple retains the right to live in the home.

• No inheritance triggered at the first spouse’s death
• Pension continues for the surviving spouse without interruption
• Inheritance begins only after both spouses pass away

| Inheritance, Taxes & Children’s Burden

After both spouses pass away, the inheritance process begins. One of the most common concerns is whether children must repay the pension amount—but the home pension system is designed to protect heirs from additional financial burden.

1) If Pension Received Exceeds the Home Value

If the total pension paid (principal + interest + fees) is greater than the value of the home, the government covers the difference. Children owe nothing.

2) If Home Value Exceeds Pension Received

If the remaining home value is higher than the pension received, the surplus is inherited by the children through normal inheritance procedures.

3) Taxes

• Acquisition tax occurs when the property is transferred to the heir.
• Inheritance tax depends on the total estate value.
• Capital gains tax applies if the inherited home is later sold at a profit.

| Summary & Final Advice

The home pension is more than a financial product. It offers stability, reduces family burden, and helps seniors maintain their lifestyle without relying on their children.

With clear eligibility rules, predictable payouts, and protection for the surviving spouse, it provides a solid safety net. The system is also designed so that heirs are not required to repay any excess benefits.

If you wish to secure monthly income while staying in your own home, the home pension is an option worth serious consideration.

If this guide was helpful, feel free to share it with others who may benefit. More practical insights will continue to be posted on MoneyLog.