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Claiming pension as an F-2

 
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spaceman82



Joined: 01 Dec 2009

PostPosted: Tue Feb 12, 2013 9:04 pm    Post subject: Claiming pension as an F-2 Reply with quote

Does anyone know if it's possible for someone on an F-2 to claim their pension from the pension office? Would they simply need the usual (one-way ticket out of Korea and proof of resignation from one's supervisor), or does it become more complicated because of the nature of the visa? Would really appreciate hearing any information anyone might be willing to share.
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Tue Feb 12, 2013 10:09 pm    Post subject: Re: Claiming pension as an F-2 Reply with quote

spaceman82 wrote:
Does anyone know if it's possible for someone on an F-2 to claim their pension from the pension office? Would they simply need the usual (one-way ticket out of Korea and proof of resignation from one's supervisor), or does it become more complicated because of the nature of the visa? Would really appreciate hearing any information anyone might be willing to share.


Complicated because typically your visa needs to be canceled (leaving and "not returning") under the terms of the treaties with the 3 nations whose citizens are allowed to get a refund.

.
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spaceman82



Joined: 01 Dec 2009

PostPosted: Tue Feb 12, 2013 11:37 pm    Post subject: Re: Claiming pension as an F-2 Reply with quote

ttompatz wrote:
...under the terms of the treaties with the 3 nations whose citizens are allowed to get a refund.


I guess that's what I needed to know. Thanks, ttompatz!
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spaceman82



Joined: 01 Dec 2009

PostPosted: Wed Feb 20, 2013 5:09 pm    Post subject: Reply with quote

Sorry to bring this topic back up, but if I was going to try to get the points visa, would there be any way for me to collect my pension before taking the visa? The only way I can think of is to leave and then come back, wait a year while working on an E visa, and apply for the F visa after that (and hope that the rules are still the same). I guess I'm trying to have my cake and eat it, too, but would appreciate hearing any ideas any of you might have.

EDIT: One reason I'm wondering about this is I've heard "rumors" (at least one of which was from someone who heard it from the pension office directly) about a limit on the number of years one can pay into the pension system and still have the option of receiving a refund, with some saying the limit is 7 years and some 10 years for U.S. citizens. Does anyone know if there is any truth to this?
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Lazio



Joined: 15 Dec 2010

PostPosted: Thu Feb 21, 2013 6:16 am    Post subject: Reply with quote

I know for sure that Korean nationals can pull out their pension in case they emigrate to another country.
It would make sense that non-Korean nationals could do the same when they leave for good.
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spaceman82



Joined: 01 Dec 2009

PostPosted: Thu Feb 21, 2013 6:43 pm    Post subject: Reply with quote

Lazio wrote:
I know for sure that Korean nationals can pull out their pension in case they emigrate to another country.
It would make sense that non-Korean nationals could do the same when they leave for good.


That's gives me some hope at least. Thanks!
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thebearofbundang



Joined: 02 Sep 2012
Location: Bundang

PostPosted: Thu Feb 21, 2013 7:13 pm    Post subject: Reply with quote

I always thought that the limit was 10 years, not only for non-Koreans but Koreans also. After 10 years of paying into it, you couldn't get a lump sum payout. Am I wrong? OR was your wife not paying into her pention for at least 10 years before taking it out?

My wife had been paying into hers for about 8 years. We were told once she got her PR card from Canada that she could then take out the money, but I remeber there being a limit for some reason. We ended up moving back to Korea, so she never took it.

I just assumed she wouldn't be able to now, but this sounds promising.
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