연금복권 실수령액The pension lottery is a unique type of lottery that pays the winnings in an annuity manner for 20 years. Depending on the number of correct numbers, you will be ranked from 1st to 7th, and there is a significant difference in winnings for each rank. (There are also bonus rankings)
Today, we will take a closer look at how much the second place winner of the pension lottery is.
Actual receipt amount
1. The amount of money actually received after deducting incidental costs such as taxes and insurance premiums.
Excluding interest and income tax, his actual income was 25 million won.
Even if you receive it as a salary, after taxes and insurance premiums are deducted, the actual amount you receive is not much.
Source: Naver Korean Dictionary
The actual amount you can receive when winning the 720+ second prize in the pension lottery is ‘780,000 won per month x 10 years.’ The total amount you will receive is 93,600,000 won. This is the first time I’ve calculated how much the second prize winnings will be after taxes, and it’s really small.
In particular, the odds of winning are 1 in 1.25 million, but the amount you receive feels really small compared to the odds.
Under the Income Tax Act, lottery winnings (lotto, pension lottery, etc.) are classified as other income, and different tax rates are applied depending on the winning amount. If you win the lottery and receive a prize exceeding 300 million won, the tax rate applied is 30%.
If you look at the additional explanation below the table, it says that the pension lottery applies a withholding tax rate to the amount paid every month. Pension Lottery 720 2nd place winner receives 1 million won every month, so a 20% tax rate is applied. If you compare it to general earned income, the tax rate can be said to be very high.
As mentioned earlier, the actual amount you will receive by winning second place in the pension lottery is 780,000 won per month x 10 years (93,600,000 won). On the other hand, the actual amount received when winning second place in the lottery is about 39 million won, which is lower than the 720 in the pension lottery. The probability of winning is almost the same, but if we compare only the second prize, we can say that there are many pension lotteries.
If you win the second prize of the Instant Print Lottery Spito 2000, you will receive a prize of 100 million won (100,000,000). The applicable tax rate is 22%, similar to the second prize in the pension lottery, and the actual amount received is 78 million won. It is also low compared to the pension lottery.
If we only look at the second place winnings, we can say that the order is ‘Pension Lottery > Spito 2000 > Lotto’.
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