Guide to Global Payroll Management

Summary of social security benefits
Retirement/old age. Full retirement benefits are payable to a worker at full retirement
age (age 60 for people born before 1953, increasing gradually to age 65 for people born in
1968 or later) with 20 years of coverage. Reduced benefits are payable at age 60 with 10
years of coverage, and at age 55-59 with 10 years of coverage and not employed.
Disability. A disability benefit is payable to a worker who is fully or partially disabled. The
worker must be working in covered employment at the onset of disability. The benefit is paid
either as a pension or a lump sum depending on the degree of disability.
Family. Retired or disabled workers may receive supplements for a dependent spouse
at any age, dependent children who are under age 18 or severely disabled, and dependent
parents who are at least age 60 or severely disabled.
Survivor. A survivor pension is payable if the worker was covered at the time of death
or for at least 10 years, and the survivor was dependent on the worker at the time of death,
in this order of priority: (1) spouse (a husband must be over age 60 or severely disabled),
(2) children under age 18 or severely disabled, (3) parents over age 60 or severely disabled,
(4) grandchildren under age 18 or severely disabled, and (5) grandparents over age 60 or
severely disabled. Only a single pension is paid, to the highest ranked survivor. If two or
more survivors have the same rank, the pension is divided equally among them.

For more information
For more information about Korea's social security program, write to:
National Pension Center Headquarters
Kukmin-yeonkum Building 13
Olympic-ro 35 da-gil
Songpa-gu
Seoul 138-725
SOUTH KOREA

LUXEMBOURG

LUXEMBOURG
Effective November 1, 1993

Social security coverage and tax rules
An employee sent by a U.S. employer to work in Luxembourg for five years or less is covered and taxed under the U.S. social security system. An employee sent by a U.S. employer
to work in Luxembourg for more than five years, or hired in Luxembourg by a U.S. employer,
is covered and taxed under the Luxembourg system.
An employee sent by a Luxembourg employer to work in the U.S. for five years or less
is covered and taxed under the Luxembourg social security system. An employee sent by a
Luxembourg employer to work in the U.S. for more than five years, or hired in the U.S. by a
Luxembourg employer, is covered and taxed under the U.S. system.

Request for a coverage certificate
To establish an exemption from coverage under the U.S. social security system, the
employer in Luxembourg must request a certificate of coverage (Form LUX/USA 1) from
Luxembourg at this address:

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Guide to Global Payroll Management - 2020

Table of Contents for the Digital Edition of Guide to Global Payroll Management - 2020

Guide to Global Payroll Management - 2020 - B-32

Guide to Global Payroll Management - 2020

Table of Contents for the Digital Edition of Guide to Global Payroll Management - 2020