Housing Pension Subscribers' Minimum Living Expenses of '1.85 Million Won' Cannot Be Seized

In the future, it is expected that the minimum living expenses (monthly receipt amount up to 1.85 million KRW) of housing pension subscribers will be protected from seizure.

According to the Korea Housing Finance Corporation on the 20th, starting the next day, the 'Housing Pension Guardian Account,' a seizure-protection account exclusively for housing pensions, will be expanded to all housing pension users.

Until now, the seizure-protection account was only available to housing pension subscribers receiving a monthly amount of 1.85 million KRW or less. However, as the Korea Housing Finance Corporation developed a split deposit system through continuous collaboration with financial institutions, the usage restrictions have been removed.

Accordingly, housing pension subscribers receiving more than 1.85 million KRW per month can now register two accounts?a seizure-protection account and a regular account?as their housing pension payment accounts by utilizing the split deposit system. Up to 1.85 million KRW of the monthly payment is received in the seizure-protection account, and the excess amount is received in the regular account.

Customers wishing to use this service can obtain a 'Housing Pension Exclusive Account Eligibility Certificate' at the nearest Korea Housing Finance Corporation branch and submit it to the housing pension receiving bank branch.

This content was produced with the assistance of AI translation services.