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Pension Refund and checking your balance
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koreatimes



Joined: 07 Jun 2011

PostPosted: Sun Nov 13, 2011 5:11 am    Post subject: Reply with quote

Kuraudo wrote:
For some freaking God knows what reason, my CHASE bank says Im no longer a customer from inactive usage and i have NO existing bank in the USA NOW T__T.

Can i use my Korean bank here and have them wire the money there?


You have to keep a minimum balance. If you had money, Chase either took it in fees or sent a check to the address with the account.
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Kuraudo



Joined: 02 Feb 2010

PostPosted: Sun Nov 13, 2011 10:56 am    Post subject: Reply with quote

Adventurer wrote:
Kuraudo wrote:
For some freaking God knows what reason, my CHASE bank says Im no longer a customer from inactive usage and i have NO existing bank in the USA NOW T__T.

Can i use my Korean bank here and have them wire the money there?


Why on Earth would you let go of your Chase account? Didn't you wire money? I have money sent to mine regularly. Could you get a relative to open a bank account in his name and then you send the money there?

I never said I let it go on purpose. I wired money there before. They closed it only after a mere 2 mos of inactive usage.

Anyways, pension people told me I could only wire money to my OWN NAME bank account so i wired it to my own Korean bank.
Im gonna see whats up at the Chase bank when I get there.

Wiring money costs too much. I already have a Woori America bank too. I have too many bank accts. I even had a request for That American acct to be closed. Yet its half closed and half open. Strange but i get statements and charges BUT i cannot access my account, deposit money or even see the acct on the internet. Ridiculous. another person i have to yell at. Clearly the teller on the phone did something wrong.
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journal



Joined: 26 Jan 2011

PostPosted: Mon Nov 14, 2011 1:38 am    Post subject: Reply with quote

Some people on here seem to have quite an in-depth knowledge of things. Hopefully someone can help me out.

I'll be changing to an F2 visa soon, and quitting my job. However, I'll be staying in Korea.

Is there anyway to receive my pension refund without leaving Korea?

Or, what's the cheapest/shortest way to collect my pension?

Thanks in advance.
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bluethree



Joined: 20 May 2009

PostPosted: Wed Nov 16, 2011 3:56 pm    Post subject: Reply with quote

My last school deducted pension money from my severance pay. Their reasoning is because I worked one day in October (technically not even true, because my contract ended on the 1st which was a Saturday), that they had to deduct pension and health insurance from it. Given that they've cut down on my pension payments before and underreported my income I'm not exactly willing to believe this, but is it true?
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Johnwayne



Joined: 28 Jun 2007

PostPosted: Tue Nov 22, 2011 1:58 am    Post subject: Reply with quote

journal wrote:
Some people on here seem to have quite an in-depth knowledge of things. Hopefully someone can help me out.

I'll be changing to an F2 visa soon, and quitting my job. However, I'll be staying in Korea.

Is there anyway to receive my pension refund without leaving Korea?

Or, what's the cheapest/shortest way to collect my pension?

Thanks in advance.


No, you have to leave Korea.

On that note I should add my experience from today.

I went to get a refund today and I was a bit surprised when they told me I could get the refund while still in Korea. They said by the end of this week, but they wired it the same day!

Anyways, the way it worked was because I had left Korea (to visit thailand and hong kong on two seperate occasions) since the last job I had that paid into the pension fund. I hadn't made any payments into the fund since then because I was always working part-time. So, they were able to refund me the money right away rather than waiting until I left Korea.

I was a bit puzzled at first, but basically she said that anytime you leave Korea to another country (not just your home country), you can get a refund from your previous job's pension money. So, if you change your job/school and plan to go on a vacation outside of Korea in the meantime, you can go down to the pension office before you leave and get a refund and enjoy your money on your vacation.

However, you still need all the same documentation (e.g. the plane ticket info, etc.) that would normally need.
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walterkim18



Joined: 07 Sep 2010

PostPosted: Wed Nov 23, 2011 9:15 pm    Post subject: Pension Refund and U.S. Social Security Issues Reply with quote

I'd like to know if anyone has applied for a lump sum refund, but hasn't been reporting their income to the U.S. I know that an average hagwon worker's salary is fairly low and is tax exempt from the U.S. Also, I understand that once you apply for a lump sum refund that all your information is reported to the U.S. social security. Because the lump sum and yearly wages are so low, would the U.S. social security pursue a case against someone who hasn't reported this foreign income? I'd appreciate people's similar experiences and not condemnation that would be useless to me. Thanks
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anbrainblasta



Joined: 14 Feb 2009

PostPosted: Fri Nov 25, 2011 4:14 am    Post subject: Reply with quote

Sorry to butt in and change the direction of the thread

I've just found out that my current school is shutting down at the end of December. I'm now applying to new jobs here and there.

My trouble is my boss hasn't been paying me into the pension plan. It's a major oversight on my part. I never received pay slips and assumed the deduction was made each month, along with tax and the other tit-bits.

Only when my boss told me last week he was closing down did I thoroughly investigate my situation.

As I've been here 3 years do you think the pension office would allow me to make the back payments in installments over the course of a new 12 month contract.

Thanks for any responses.
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TellyRules986



Joined: 09 Nov 2009
Location: Korea

PostPosted: Tue Jan 31, 2012 8:24 am    Post subject: Reply with quote

natalia930 wrote:
travelnguy wrote:
1. Go to http://www.nps.or.kr/jsppage/main.jsp
2. On the left hand side of the screen (in the green bar) you will need to log in. Click on 개인로그인 (it's just left of the circle with some advertisements)
3. Once you log in, look at the top right side of the screen. You will see an odd looking cartoon character. Click on 내연금
4. A new screen or tab should open up. On the top white navigation bar, click on 내연금 알아보기 (it's the first option).
5. You will now see a blue navigation bar on the left side of the screen. On the blue navigation bar click on 납부내역조희 (it's the second one from the top).

You should now see all of your information. I tried this twice and it worked. Let me know if it doesn't work and I'll try something else.

Make sure you have your online banking password on your computer or USB. You will need it to log in.


How do I log in? I thought you might put in the ARC #, and then create a username and password, but I can't figure out how to register/log in...whenever I plug those things in and try to register or log in, I get an error message. Could you give more detailed instructions for the hangul buttons?


I have a certificate and I clicked on the link and tried following the directions above.

Have they changed around the website/links since then? I wasn't able to find the exact text I'm supposed to be clicking on. I tried clicking around and logging in a million times and still haven't been able to find my balance, so I'm wondering what I am doing wrong.
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fezmond



Joined: 27 Oct 2008

PostPosted: Sat Feb 11, 2012 4:42 am    Post subject: Reply with quote

TellyRules986 wrote:
natalia930 wrote:
travelnguy wrote:
1. Go to http://www.nps.or.kr/jsppage/main.jsp
2. On the left hand side of the screen (in the green bar) you will need to log in. Click on 개인로그인 (it's just left of the circle with some advertisements)
3. Once you log in, look at the top right side of the screen. You will see an odd looking cartoon character. Click on 내연금
4. A new screen or tab should open up. On the top white navigation bar, click on 내연금 알아보기 (it's the first option).
5. You will now see a blue navigation bar on the left side of the screen. On the blue navigation bar click on 납부내역조희 (it's the second one from the top).

You should now see all of your information. I tried this twice and it worked. Let me know if it doesn't work and I'll try something else.

Make sure you have your online banking password on your computer or USB. You will need it to log in.


How do I log in? I thought you might put in the ARC #, and then create a username and password, but I can't figure out how to register/log in...whenever I plug those things in and try to register or log in, I get an error message. Could you give more detailed instructions for the hangul buttons?


I have a certificate and I clicked on the link and tried following the directions above.

Have they changed around the website/links since then? I wasn't able to find the exact text I'm supposed to be clicking on. I tried clicking around and logging in a million times and still haven't been able to find my balance, so I'm wondering what I am doing wrong.


after you log in, find the 'my pageee' link 마이 파이지 (i think). it's the big one on the middle/top right of the page. should take you to another page which has links down the left. i've just been informed that my pension contributions for 2 years are 0 krw.
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duke of new york



Joined: 23 Jan 2011

PostPosted: Fri Apr 20, 2012 6:32 am    Post subject: Reply with quote

How do I go about getting my pension refund from the US, after leaving Korea, if I didn't apply for it in Korea? I just looked through all 24 pages of this thread, and there is no up to date information on this. Thanks!
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duke of new york



Joined: 23 Jan 2011

PostPosted: Tue Apr 24, 2012 11:05 pm    Post subject: Reply with quote

Does anybody know?
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jonpurdy



Joined: 08 Jan 2009
Location: Ulsan

PostPosted: Tue May 08, 2012 1:43 pm    Post subject: Reply with quote

I'm doing a lump-sum refund from Canada. I filled out the form obtained from the Canadian Consulate and they stamped it and such. They told me that I needed to mail it somewhere but where do I mail it to? I presume the Pension Service office in Korea but does anyone have the address of that?

Much thanks for the help.
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oppa637



Joined: 05 Dec 2011

PostPosted: Tue May 08, 2012 6:20 pm    Post subject: Reply with quote

I read the whole thread but haven't seen these answered.

Three questions:

1. I went to the site. Does the amount shown just equal my contributions or does that include the Company's contribution as well?

2. Is the max amount of contribution a month 168,750 won?

3. The amount in the pension fund, does it grows with interest? Meaning if I leave my contributions there for a few years, will it continually grow? Trying to see if its beneficial to ask for refund every year or not.


Thanks for your help in advance!
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NQ



Joined: 16 Feb 2012

PostPosted: Thu Jun 14, 2012 7:19 pm    Post subject: Reply with quote

I"m completely confused about all this pension refund talk. The biggest question I have now, is if you only get back your contributions or both you and your employer's?
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Winterkalte



Joined: 13 May 2009

PostPosted: Sun Jul 01, 2012 5:38 am    Post subject: Reply with quote

Sorry if this question has been asked before. I'm leaving Korea for a couple months after my contract ends, then will come back to start a new job. Is it OK if I present a round trip ticket to the office, or do they want to see a one way ticket?
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