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Pension Refund and checking your balance
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beelewis



Joined: 21 Mar 2011

PostPosted: Wed Aug 15, 2012 4:53 am    Post subject: Checking pension balance Reply with quote

Regarding this thread about trying to check your balance online: Does anyone know a phone # that is best to call where I can speak with someone who speaks English?
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LuckyNomad



Joined: 28 May 2007

PostPosted: Thu Sep 06, 2012 6:18 pm    Post subject: Reply with quote

YTMND wrote:
LuckyNomad wrote:
It is clear. However, I already have quite a few students and will formally start the school about a week after I finish my public school job.

If I can't get it that way, I know there is an airport option which seems to give you the money at the airport. Has anyone ever done that before?


I haven't, but I think you are grasping at straws there. You might be able to apply for pension at the airport if you need to and completely forgot to do this before. You are sitting waiting for the plane and you think, "OMG!!! I forgot to apply for pension." This is for the typical E2 visa holder who is not married to a Korean and will never return to Korea.

With this handy dandy airport service, they can now apply. They still have to wait 30 days. I could be wrong, but I read online they pay this on the 10th, so they would have to make an exception for anyone wanting to collect pension funds before or after the 10th. I highly doubt it.

Let's keep it simple, leave the country, wait for the funds and then re-enter. Or do you want to put in another quarter and doubt me again?

What other ideas do you have drummed up?


Well I got my money. Here's how I did it with the airport service. And while still having my F-6 visa.
Step 1, I had my school cancel my national pension fund. They sent some sort of document to the Pension office.

Step 2, I went to the pension office with my Immigration card, E-ticket, passport and korean bank book. The girl there gave me a form showing how much money I would get and also gave me a form to take to the airport. She also said they would send the final months payment to my Korean bank account after the 10th of September sometime.

Step 3, went to the Pension office at the airport. It is easy to find and if you can't find it, go ask the information lady. The Pension guy will take your stuff and do some paperwork for you. It'll take 10 minutes. The guy pointed out that I had an F-6 visa and said that I'm supposed to do this only if I'm leaving Korea forever. I asked if there was a problem and then he said, "it really doesn't matter."

Step 4, I took the paper that he gave me over to the SHinhan bank next to the pension office. That lady said that the amount of money I was receiving was over 10 million so she gave me a paper and sent me to the basement office of Shinhan bank. It is a bit of a walk to get there.

Step 5, At that Shinhan bank I gave the guy the form and he took about 8 minutes to do something and then gave me the form I needed to bring through immigration.

Step 6, I went through immigration with my 1 way ticket. No problem. I didn't show them the form or anything. They did not take my immigration card away.

Step 7, I went to the shinhan bank in the terminal. I gave them girl the form and then she gave me all of my money in dollars. I put the money in my bag and got on the airplane to Japan. I had another one way ticket back to Korea but the Japanese immigration people didn't ask to see it.

Step 8, The very next day I flew back to Korea, dollars in my bag, customs and immigration didn't ask any questions. Didn't show anyone any customs declaration form 0 problems.

YTMND thanks for all of your wonderful advice.
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LuckyNomad



Joined: 28 May 2007

PostPosted: Thu Sep 06, 2012 6:18 pm    Post subject: Reply with quote

YTMND wrote:
LuckyNomad wrote:
It is clear. However, I already have quite a few students and will formally start the school about a week after I finish my public school job.

If I can't get it that way, I know there is an airport option which seems to give you the money at the airport. Has anyone ever done that before?


I haven't, but I think you are grasping at straws there. You might be able to apply for pension at the airport if you need to and completely forgot to do this before. You are sitting waiting for the plane and you think, "OMG!!! I forgot to apply for pension." This is for the typical E2 visa holder who is not married to a Korean and will never return to Korea.

With this handy dandy airport service, they can now apply. They still have to wait 30 days. I could be wrong, but I read online they pay this on the 10th, so they would have to make an exception for anyone wanting to collect pension funds before or after the 10th. I highly doubt it.

Let's keep it simple, leave the country, wait for the funds and then re-enter. Or do you want to put in another quarter and doubt me again?

What other ideas do you have drummed up?


Well I got my money. Here's how I did it with the airport service. And while still having my F-6 visa.
Step 1, I had my school cancel my national pension fund. They sent some sort of document to the Pension office.

Step 2, I went to the pension office with my Immigration card, E-ticket, passport and korean bank book. The girl there gave me a form showing how much money I would get and also gave me a form to take to the airport. She also said they would send the final months payment to my Korean bank account after the 10th of September sometime.

Step 3, went to the Pension office at the airport. It is easy to find and if you can't find it, go ask the information lady. The Pension guy will take your stuff and do some paperwork for you. It'll take 10 minutes. The guy pointed out that I had an F-6 visa and said that I'm supposed to do this only if I'm leaving Korea forever. I asked if there was a problem and then he said, "it really doesn't matter."

Step 4, I took the paper that he gave me over to the SHinhan bank next to the pension office. That lady said that the amount of money I was receiving was over 10 million so she gave me a paper and sent me to the basement office of Shinhan bank. It is a bit of a walk to get there.

Step 5, At that Shinhan bank I gave the guy the form and he took about 8 minutes to do something and then gave me the form I needed to bring through immigration.

Step 6, I went through immigration with my 1 way ticket. No problem. I didn't show them the form or anything. They did not take my immigration card away.

Step 7, I went to the shinhan bank in the terminal. I gave them girl the form and then she gave me all of my money in dollars. I put the money in my bag and got on the airplane to Japan. I had another one way ticket back to Korea but the Japanese immigration people didn't ask to see it.

Step 8, The very next day I flew back to Korea, dollars in my bag, customs and immigration didn't ask any questions. Didn't show anyone any customs declaration form 0 problems.

YTMND thanks for all of your wonderful advice.
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_kojak



Joined: 05 Feb 2006
Location: Seoul

PostPosted: Wed Sep 19, 2012 10:18 pm    Post subject: Reply with quote

I just posted created a new thread about this, but in 2 weeks, I'm going to be teaching an 8 hour course to the employees of the NPS. It's a good chance to get some questions answered that people might have. I know there are a lot of them in this thread, but there's too much for me to dig through right now, especially not knowing which ones have been answered already.

So, If you've got a question, post it and I'll ask it directly the NPS workers.
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cricketnut



Joined: 13 Jun 2009
Location: Changwon

PostPosted: Mon Nov 26, 2012 10:00 pm    Post subject: i posted this in other thread too. Reply with quote

ask them if any way NZers get money back...

"went into the pension office today,

woman was very helpful...showed her passport/ticket to leave/

my F6 card, whatever all she wanted.etc etc..

she said i had 2.8mill there ready to be given to me...i finished the
last pension payment a couple of months back.

she then went for a short walk, came back 30 seconds later
and said worry we can't give you any money because you
are from NZ.

so..is the money stuck there forever?

are there any NZers out there that managed to get their money?"
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falco



Joined: 26 Nov 2005

PostPosted: Tue Dec 18, 2012 8:41 am    Post subject: Reply with quote

Yes, is there any way NZers can get the refund?
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Wildbore



Joined: 17 Jun 2009

PostPosted: Fri Jan 25, 2013 2:27 am    Post subject: Reply with quote

Yes, tell your government to give refunds to Koreans. Korea is reciprical, they will then start giving refunds to New Zealanders.
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therockery



Joined: 25 Jan 2011

PostPosted: Tue Jul 16, 2013 5:09 pm    Post subject: Reply with quote

I think I read about this before, but maybe they have changed things.

I'm in the middle of my contract, but I have worked here in Korea consistently for the last three years. So, while leaving to go on my vacation with a one way ticket can I collect my pension? And then come back in three weeks and continue my present job?
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unplugged_boy



Joined: 17 Jul 2006

PostPosted: Thu Jul 18, 2013 2:20 am    Post subject: Reply with quote

I was given the option of a lower tax rate deduction on my contract at 3.5% and I've taken it. So I've always assumed I never qualified for getting a refund on my pension. Can anybody with previous experience share if that is the case?
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kyoponomad



Joined: 18 Jun 2007

PostPosted: Fri Oct 25, 2013 7:13 pm    Post subject: Reply with quote

You have to fly on a weekday to get the money at Incheon.
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untouchable_88



Joined: 05 Jun 2011

PostPosted: Thu Nov 28, 2013 5:21 pm    Post subject: Reply with quote

if I applied for my pension refund, then a few days later i applied and receivd my d10 visa , then left for Canada the next day. will my pension payment be cancelled?
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Quack Addict



Joined: 31 Mar 2008
Location: Seoul

PostPosted: Wed Mar 05, 2014 5:07 am    Post subject: Reply with quote

I went to the pension office and gave them my U.S. banking info. I bank at a credit union and the lady was befuddled. I didn't think credit unions were so foreign to Koreans. I couldn't have been the first to want my refund transferred to a credit union.
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thorin



Joined: 14 Apr 2003

PostPosted: Mon Mar 10, 2014 9:09 pm    Post subject: Reply with quote

LuckyNomad wrote:

Well I got my money. Here's how I did it with the airport service. And while still having my F-6 visa.
Step 1, I had my school cancel my national pension fund. They sent some sort of document to the Pension office.

Step 2, I went to the pension office with my Immigration card, E-ticket, passport and korean bank book. The girl there gave me a form showing how much money I would get and also gave me a form to take to the airport. She also said they would send the final months payment to my Korean bank account after the 10th of September sometime.

Step 3, went to the Pension office at the airport. It is easy to find and if you can't find it, go ask the information lady. The Pension guy will take your stuff and do some paperwork for you. It'll take 10 minutes. The guy pointed out that I had an F-6 visa and said that I'm supposed to do this only if I'm leaving Korea forever. I asked if there was a problem and then he said, "it really doesn't matter."

Step 4, I took the paper that he gave me over to the SHinhan bank next to the pension office. That lady said that the amount of money I was receiving was over 10 million so she gave me a paper and sent me to the basement office of Shinhan bank. It is a bit of a walk to get there.

Step 5, At that Shinhan bank I gave the guy the form and he took about 8 minutes to do something and then gave me the form I needed to bring through immigration.

Step 6, I went through immigration with my 1 way ticket. No problem. I didn't show them the form or anything. They did not take my immigration card away.

Step 7, I went to the shinhan bank in the terminal. I gave them girl the form and then she gave me all of my money in dollars. I put the money in my bag and got on the airplane to Japan. I had another one way ticket back to Korea but the Japanese immigration people didn't ask to see it.

Step 8, The very next day I flew back to Korea, dollars in my bag, customs and immigration didn't ask any questions. Didn't show anyone any customs declaration form 0 problems.

YTMND thanks for all of your wonderful advice.


Has anyone else done this at the airport, left for one day and returned with an intact F-6 visa? I wish I would have known about this years ago if it's really that easy.
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jmadtownweb



Joined: 13 Dec 2011
Location: Wisconsin

PostPosted: Tue May 27, 2014 2:45 am    Post subject: Reply with quote

I took out two years worth of my pension back in 2011 from my public school. Came back to Korea and have been paying pension every month for the past two years. This is at my hagwon.

Can I take out a pension twice? Or will there be a problem...
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trueblue



Joined: 15 Jun 2014
Location: In between the lines

PostPosted: Sun Aug 10, 2014 5:05 pm    Post subject: Reply with quote

For preliminary paperwork, do you have to go to your LOCAL pension office or can go to any office in the country?

For example, if one is in Jeolla province, can he/she do the formalities in Geyonggi province?

In addition, since I'm on a D-10, do I need to wait until I receive my new ARC before I go to the pension office, of will my passport be sufficient?

Thank you:)
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