(1) Where a retired person submits, to the withholding agent, a withholding tax receipt for any of the following retirement incomes already paid at the time when he/she received his/her retirement income, the withholding agent shall withhold the income tax settled against the sum of the retirement income already paid to the retired person and the retirement income yet to be paid by the withholding agent:
1. Retirement income already paid during the taxable period concerned;
2. Retirement income already paid under the employment agreement prescribed by Presidential Decree.
(2) Where retirement income paid to a person who retired on or before December 31, 2012 was transferred to or deposited in his/her retirement pension account and thus the retirement income does not accrue on the date of retirement, paragraph (1) may apply, deeming that the retirement income accrued on the date of retirement and the retirement income is the retirement income already paid under paragraph (1) 2, notwithstanding Article 146-2. <Newly Inserted by Act No. 12852, Dec. 23, 2014>
(3) Matters necessary concerning the method and procedure, etc. for settlement of retirement income tax shall be prescribed by Presidential Decree.[This Article Wholly Amended by Act No. 11611, Jan. 1, 2013]