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Tomtomclub
Joined: 21 Nov 2014 Location: DaeJeon
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Posted: Fri Nov 28, 2014 10:41 am Post subject: Pensions System: 24 years here I get 1,292,000 won. |
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I am tired and upset although I figured I'd be burned but this?
Basically I took in my almost a hundred pages of contracts and my old passports in. Since 1989 I was more or less told take your 1,292,000 or get out.
These are major universities some big chains, They advised me to go talk to them, yeah all over the country. It was take the money or shut up, a lot of looking at watches.
I gather nobody ever put any money into the system or else we are just getting ripped off totally.
I admit to having a bit to drink tonight and who wouldn't?
I am an old guy, I came here during the student riots against the military dictatorship you know people weren't doing pleasant gap year vacations at that time.
It was create a new a new nation, a genuine democracy. It was cold and dark and dangerous. Far more than any of you could even imagine. It was very dangerous.
If anybody knows how to deal with his strange injustice as I see it I'd love to hear from you I do nothing wrong in this world email me at [email protected] |
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Died By Bear
Joined: 13 Jul 2010 Location: On the big lake they call Gitche Gumee
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Posted: Fri Nov 28, 2014 2:30 pm Post subject: |
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All those years and you didn't keep up with your pension stats? Wow. This isn't just a couple of years - it's a quarter of a century guy.
Hope you invested something, otherwise you'll be retiring in the Philippines. Do you even rate any social security (assuming you're American, if not then good luck). |
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schwa
Joined: 18 Jan 2003 Location: Yap
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Posted: Fri Nov 28, 2014 3:38 pm Post subject: |
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NPS can only give back based on what went in & its your own responsibility to keep an eye on your account with them. Hounding hagwons from years ago to pay up now is likely a lost cause, but universities use different pension systems, hence the advice to contact them as theres a chance they hold some money on account for you.
Sorry about your plight & best luck. |
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Chaparrastique
Joined: 01 Jan 2014
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Posted: Fri Nov 28, 2014 5:14 pm Post subject: Re: Pensions System: 24 years here I get 1,292,000 won. |
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Tomtomclub wrote: |
I am tired and upset although I figured I'd be burned but this?
Basically I took in my almost a hundred pages of contracts and my old passports in. Since 1989 I was more or less told take your 1,292,000 or get out.
These are major universities some big chains, They advised me to go talk to them, yeah all over the country. It was take the money or shut up, a lot of looking at watches.
I gather nobody ever put any money into the system or else we are just getting ripped off totally.
I admit to having a bit to drink tonight and who wouldn't?
I am an old guy, I came here during the student riots against the military dictatorship you know people weren't doing pleasant gap year vacations at that time.
It was create a new a new nation, a genuine democracy. It was cold and dark and dangerous. Far more than any of you could even imagine. It was very dangerous.
If anybody knows how to deal with his strange injustice as I see it I'd love to hear from you I do nothing wrong in this world email me at [email protected] |
I don't understand the full details here.
You're saying that numerous schools pretended to- but never paid- pension on your behalf, for about 25 years?
Doesn't seem possible because you will have been sent your pension slip every year from the NPS. You will have known exactly how many payments had been made. |
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Tomtomclub
Joined: 21 Nov 2014 Location: DaeJeon
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Posted: Sat Nov 29, 2014 3:39 am Post subject: |
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Oh yeah I messed up but this prior to gap year and spark notes. I definitely got their junk mail!!! You didn't just look up your status. I am used to the old time stuff I'll just take all the shit in myself.
Spark notes! |
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basic69isokay
Joined: 28 Sep 2014 Location: korea
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Posted: Sat Nov 29, 2014 3:44 am Post subject: |
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Wow man. Wow!
I'm genuinely sorry for you.
This is a cautionary tale of what trusting Korea can do to you. Even Koreans don't trust other Koreans!
Check your pension often! At least once per year. Ideally, every few months. Website is nps.co.kr
Alternatively, just walk in and ask! Walk in the office and say how much do I have. I've even called in before and asked.
Many, if not most, schools here do some kind of pension tricks. One is not paying at all, and damn did you have some bad luck. Because the more common one now is underreporting your wage. They tell NPS your salary is like 1.3 or something so they only have to match that amount. It's nuts. That happened to me with YBM, about the biggest chain around. Don't just trust that its all taken care of. Walk in and ask.
(Also, to the OP, I hope you have a little stashed. Or some property. Sell it and roll to Thailand or Phillipines) |
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FriendlyDaegu
Joined: 26 Aug 2012
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Posted: Sat Nov 29, 2014 7:14 am Post subject: |
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I thought at 10 years in the system you were 'vested' and could no longer take the money out as a lump sum. |
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Tomtomclub
Joined: 21 Nov 2014 Location: DaeJeon
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Posted: Sat Nov 29, 2014 11:50 pm Post subject: I sure got screwed |
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There is is really not much more to say. |
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Tomtomclub
Joined: 21 Nov 2014 Location: DaeJeon
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Posted: Sat Nov 29, 2014 11:50 pm Post subject: I sure got screwed |
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There is is really not much more to say. |
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Stan Rogers
Joined: 20 Aug 2010
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Posted: Sun Nov 30, 2014 12:25 am Post subject: |
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FriendlyDaegu wrote: |
I thought at 10 years in the system you were 'vested' and could no longer take the money out as a lump sum. |
Depends on the country you are from. Canadians have a 10 year cut off point on lump sum withdrawls. I think the U.S. doesn't. |
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basic69isokay
Joined: 28 Sep 2014 Location: korea
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Posted: Sun Nov 30, 2014 12:27 am Post subject: |
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Stan Rogers wrote: |
FriendlyDaegu wrote: |
I thought at 10 years in the system you were 'vested' and could no longer take the money out as a lump sum. |
Depends on the country you are from. Canadians have a 10 year cut off point on lump sum withdrawls. I think the U.S. doesn't. |
Also, after 24 years he cant be that far off from retirement age.
I'm guessing he's in his 50s. Whats the qualifying age? 63? |
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Tomtomclub
Joined: 21 Nov 2014 Location: DaeJeon
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Posted: Sun Nov 30, 2014 1:26 am Post subject: |
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I can only say that I was a real fool. Yeah I was vested. I like the the idea of of going back and talking to them.
I used to get endless junk mail from the pension people. So I gather that they knew what was going on. It was endless.
That was a lot of years ago and this place wasn't exactly a pleasant place. While the illegal made a fortune I slugged a long.
I always thought do the right thing.
In the end they just laughed me. |
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Tomtomclub
Joined: 21 Nov 2014 Location: DaeJeon
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Posted: Sun Nov 30, 2014 1:30 am Post subject: |
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And when you are guessing he that is me a human being. |
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Tomtomclub
Joined: 21 Nov 2014 Location: DaeJeon
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Posted: Sun Nov 30, 2014 1:39 am Post subject: More for some reason |
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Cute in those days didn't quite cut it. It was dirty, dark, and dangerous. Try to get a job now if you aren't cute |
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Stan Rogers
Joined: 20 Aug 2010
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Posted: Sun Nov 30, 2014 2:23 am Post subject: |
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Tomtom did you get yearly raises over those years? At my job they won't give me raises because they said they are actually contributing to my pension which they see as an incremental increased cost to them each year. |
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