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thomas pars
Joined: 29 Jan 2009
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Posted: Tue Aug 30, 2011 9:42 pm Post subject: How to get pension before pulling a runner. |
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I am leaving my current job. Not what I signed up for.
Anyway, I want my pension before I split. So the question is
can I get my pension in one lump sum without my current job finding
out? I hear it takes 2 months for the pension comes through. If all
goes right. I get the pension. And split.
Thanks. |
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nathanrutledge
Joined: 01 May 2008 Location: Marakesh
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Posted: Tue Aug 30, 2011 10:15 pm Post subject: |
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You have to show the pension office your one way ticket out. This I know for sure.
I'm not so sure if you have to show them something that says your job is ending, or that your visa is expiring. I took mine, but it was a few years back, and I don't remember.
You CAN do it from overseas I believe, but it's more difficult.
Once the money is in the account though, its not like your boss can take it out, so it will sit there until you take it or until you retire. You planning to come back? If so, you might not be able to take it, depending on timing.
Long story short, you can get it, your boss doesn't have to know until after you've left (not like it matters - he can't get it from them anyway), as long as you file everything on your way out. |
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ttompatz
Joined: 05 Sep 2005 Location: Kwangju, South Korea
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Posted: Tue Aug 30, 2011 11:14 pm Post subject: Re: How to get pension before pulling a runner. |
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thomas pars wrote: |
I am leaving my current job. Not what I signed up for.
Anyway, I want my pension before I split. So the question is
can I get my pension in one lump sum without my current job finding
out? I hear it takes 2 months for the pension comes through. If all
goes right. I get the pension. And split.
Thanks. |
1) get your ticket
2) go to the pension office and apply for your refund.
(you need to show your exit ticket, ARC, passport and bank information (for your account at home) for the money to be sent to).
3) pull your runner (your current visa needs to be canceled before the refund will be processed.
4) wait for the pension money to show up in your bank account.
ALL of this assumes:
a) you are from Canada, USA or AUS (the only 3 who get the refund).
b) you have been here long enough to get your ARC and were actually registered in the NPS.
c) your boss actually paid into the NPS.
. |
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recessiontime
Joined: 21 Jun 2010 Location: Got avatar privileges nyahahaha
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Posted: Wed Aug 31, 2011 3:47 am Post subject: |
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I pulled a runner and THEN got my pension wired to my bank account overseas. I was so paranoid that the pension office would call my employer so I opted to do all this after I left. You only need your alien card number and documented proof that you were employed by your school. Make sure to write down that number and keep pay stubs and contracts etc.
I originally sent my pension documentation to Canadian government that deals with this type of deal but they simply forwarded to the Korean pension office close to where I previously worked. It wasn't hard or time consuming at all, I was actually surprised how efficiently it was handled. |
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sojusucks
Joined: 31 May 2008
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Posted: Wed Aug 31, 2011 5:14 am Post subject: Re: How to get pension before pulling a runner. |
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ttompatz wrote: |
thomas pars wrote: |
I am leaving my current job. Not what I signed up for.
Anyway, I want my pension before I split. So the question is
can I get my pension in one lump sum without my current job finding
out? I hear it takes 2 months for the pension comes through. If all
goes right. I get the pension. And split.
Thanks. |
1) get your ticket
2) go to the pension office and apply for your refund.
(you need to show your exit ticket, ARC, passport and bank information (for your account at home) for the money to be sent to).
3) pull your runner (your current visa needs to be canceled before the refund will be processed.
4) wait for the pension money to show up in your bank account.
ALL of this assumes:
a) you are from Canada, USA or AUS (the only 3 who get the refund).
b) you have been here long enough to get your ARC and were actually registered in the NPS.
c) your boss actually paid into the NPS.
. |
This is why it's a good idea to call the pension office and verify contributions, from time-to-time. All you need is your ARC number and they can tell you your pension account balance over the phone. |
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oftenadrift
Joined: 13 Dec 2008 Location: South Korea
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Posted: Wed Aug 31, 2011 9:41 am Post subject: |
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recessiontime wrote: |
I pulled a runner and THEN got my pension wired to my bank account overseas. I was so paranoid that the pension office would call my employer so I opted to do all this after I left. You only need your alien card number and documented proof that you were employed by your school. Make sure to write down that number and keep pay stubs and contracts etc.
I originally sent my pension documentation to Canadian government that deals with this type of deal but they simply forwarded to the Korean pension office close to where I previously worked. It wasn't hard or time consuming at all, I was actually surprised how efficiently it was handled. |
Could you give us some more details on how you got your pension back in Canada? Did you send it to the International Operations at Service Canada? Were your pay stubs/copy of contract requested, or did you just add them in as a precaution? Overall, how long did it take from when you submitted your application to when you got your refund?
Also, was this the form you used:
http://www.servicecanada.gc.ca/eforms/forms/cankor1lse.pdf
Thanks! |
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recessiontime
Joined: 21 Jun 2010 Location: Got avatar privileges nyahahaha
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Posted: Wed Aug 31, 2011 5:22 pm Post subject: |
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oftenadrift wrote: |
recessiontime wrote: |
I pulled a runner and THEN got my pension wired to my bank account overseas. I was so paranoid that the pension office would call my employer so I opted to do all this after I left. You only need your alien card number and documented proof that you were employed by your school. Make sure to write down that number and keep pay stubs and contracts etc.
I originally sent my pension documentation to Canadian government that deals with this type of deal but they simply forwarded to the Korean pension office close to where I previously worked. It wasn't hard or time consuming at all, I was actually surprised how efficiently it was handled. |
Could you give us some more details on how you got your pension back in Canada? Did you send it to the International Operations at Service Canada? Were your pay stubs/copy of contract requested, or did you just add them in as a precaution? Overall, how long did it take from when you submitted your application to when you got your refund?
Also, was this the form you used:
http://www.servicecanada.gc.ca/eforms/forms/cankor1lse.pdf
Thanks! |
Im not sure pay stubs are necessary but you have to prove you were employed so I sent in my contract. It took a good 2 months but only because my letter had to be forwarded from Canada to Korea.. I was also sent a letter from the Canadian government that my letter hd been forwarded to Korea. My advice is....don't worry you'll get it eventually. |
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