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Pension Payments

 
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jenna80ss



Joined: 25 Mar 2003
Location: Incheon

PostPosted: Thu Mar 27, 2003 7:47 pm    Post subject: Pension Payments Reply with quote

I have been reading about Yanks being able to get their pension money back. What forms do we need and do I need to provide proof of each month's deductions (my boss doesn't let us keep our paystub, but my boyfriend and I try to make copies). So, exactly what paperwork will I need to present to prove I have paid into the system and want my money back when we leave (we have been here 4 months so far).
Thanks for the help!
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Rand Al Thor



Joined: 28 Jan 2003
Location: Locked in an epic struggle

PostPosted: Thu Mar 27, 2003 8:18 pm    Post subject: Reply with quote

what is the reason your boss won't let you keep your paystub? Probably he isn't paying taxes for you. He is probably pocketing the money. I'm not sure what you can do.

This happened to me at my first job here too.
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jenna80ss



Joined: 25 Mar 2003
Location: Incheon

PostPosted: Fri Mar 28, 2003 1:17 am    Post subject: So, what can I do? Reply with quote

Well,
I have been here almost 4 months, so I don't want to rock the boat too much, but I am going to copy the copy of my receipts and at the end of the year see what happens. But, I need someone out there to tell me what I need to present to prove that the money has been taken out of my pay. If he isn't really paying the taxes now, I will bring it up later. The pension deductions are a lot more than taxes and they are recoverable, so I am more concerned about them.
Please let me know how I go about filing and getting what's owed back to me.
Thanks. Question
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Harvard Material



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Sun Mar 30, 2003 4:24 am    Post subject: Health insurance/pension... Reply with quote

Go to www.hagwonreport.com and scroll down on the Legal Info page. It has a copy of the Labour Law; in full!, and at the bottom of the page you will find lots of phone numbers and the Korean Taxation office address. From there you can find out how much tax you should be paying. KEEP PHOTOCOPYING YOUR PAYSTUBS!!!!!!!!!! That is crazy! Why doesn't he/she allow you to keep them?
How much is your tax deduction? Pension...yeah. Your employer has to put in the same amount you do. He/she probably would rather not. If you wait a while to contact the Pension Board, both of you have to make a lump payment to catch up. This can be a lot of money after 5 or 6 months. Do this immediately or it's gonna' hurt.

Get on it now...all of it. Tax, pension, health insurance...
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U.S.A.



Joined: 19 Jan 2003

PostPosted: Sun Mar 30, 2003 11:15 am    Post subject: Reply with quote

As I stated before, I got my pension money. Here's what you need.

It might not be a complete list but it's as good as I remember:

Arrow Copy of your Bank Statement

Arrow Your alien registration card

Arrow Social Security Card (might be optional, I can't recall)

Arrow Bank Name, phone number, and address

Arrow routing number, wiring info, and account number.

In order to find the closest pension fund office near you, go to www.yahoo.co.kr or even plain old yahoo.com and do a search for Korea National Pension Fund.

You should find the site which has an option for English. In the English portions of the site you should be able to find a location for the nearest office.

When you get there, have your info ready and a Korean unless you're fluent in Korean. They will ask you to fill out a few forms.

They should be able to tell you on the spot the amount, in Korean won, you will be refunded. All of the info is based on your alien registration number, so if you've been in Korea since prior to the World Cup, your number will have changed.

The government made all foreigners get new registration cards shortly before the World Cup began.

If you've come and gone a few times over many years, I hope you have your old alien registration number or at least the names and phone numbers of previous workplaces.

One of my old workplaces had a different alien reg number and spellings for my name. Luckily the worker at the pension office was exceedingly nice and did a lot of detective work to find my old info and thus more money for me.

Peace.
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jenna80ss



Joined: 25 Mar 2003
Location: Incheon

PostPosted: Sun Mar 30, 2003 11:33 pm    Post subject: Thank you Reply with quote

Everyone, thank you for the help. I will try and get on it soon. I am afraid of getting on it right now, however, because if my boss knows that I am on to him, he will know that I am aware he is stiffing me and I don't want him to take measures like firing me close to the end of my contract or not paying my severence.
So far, since the money has been taken out of my paycheck, I am not afraid of having to pay the lump sum.
Would it be a good idea to keep the copies and then at the end of my contract, demand that they money be given back into my pension fund? I am just afraid of revenge measures o his part between now and the next 8 months.
Also, would I be getting back what I put in and what he contributed, or just what I have contributed.
Thanks again, everyone, I am not going to let him get away with this one.

PS> My tax deduction is 60,000 W for 1.8 million salary a month.

Jenna
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