What requirements must be met to receive a pension from a pension account?

According to the National Tax Service, a withdrawal is recognized as 'pension receipt' only if the account holder applies to start receiving a pension after age 55, 5 years have passed since the account was opened, and the withdrawal is within the annual pension receipt limit.

Withdrawals exceeding the limit or not meeting the requirements are treated as 'non-pension withdrawals' and taxed at different rates. Withdrawals for unavoidable reasons, such as medical purposes or natural disasters, may be recognized as pension receipts if certain documentation is provided.