- Basis: final average wage at retirement
- Pros: benefits from salary growth; employer manages it
- Cons: exposure if the employer becomes insolvent
- Best for: workers expecting promotions or salary growth
← Work & Pay toolsDB (defined benefit)6,000,000 원Uses the final average wage DC (defined contribution)6,000,000 원Credits 1/12 of annual pay each year
WORK & PAY
Severance Pay Calculator
Estimate severance under Korea and China statutory rules or US and Japan company policies.
WORK & PAY
Severance Pay Calculator
Estimate retirement benefits using each country's statutory rules or your company policy.
Calculates Korea's statutory benefit for 1+ year and 15+ contracted weekly hours.
01
Severance inputs
Quick terms
02
Estimated payout
Estimated severance
6,000,000 원✓ The Korea eligibility requirements are met
Total service2 years
Monthly wage (gross)3,000,000 원
Annual72,000,000 원
Average daily wage × 30 days × (service days ÷ 365)
Statutory basis
↗How the estimate works
Average daily wage × 30 days × (service days ÷ 365)100,000 원 × 30 × (730 ÷ 365)
Retirement plan types: DB vs DC
- Basis: 1/12 of annual pay credited each year
- Pros: personal investment control, upside, portable when changing jobs
- Cons: investment losses are possible
- Best for: people comfortable investing who change jobs often
Estimate by service term
| Total service | Estimated severance | Annual |
|---|---|---|
| 1 years | 3,000,000 원 | 36,000,000 원 |
| 2 years | 6,000,000 원 | 72,000,000 원 |
| 3 years | 9,000,000 원 | 108,000,000 원 |
| 5 years | 15,000,000 원 | 180,000,000 원 |
| 10 years | 30,000,000 원 | 360,000,000 원 |
| 20 years | 60,000,000 원 | 720,000,000 원 |
Planning estimate only. Actual pay depends on included wage items, the reason for separation, company rules and tax treatment.
STEPS
How to use
- Choose a country reference and enter monthly wage and total service.
- For Korea, set DB/DC and average-wage items; for China, set the local average wage and eligibility.
- Review the estimate, formula, and service-term comparison table.