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No payments to pension?

 
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Unreal



Joined: 01 Jul 2004
Location: Jeollabuk-do

PostPosted: Mon Feb 26, 2007 4:48 pm    Post subject: No payments to pension? Reply with quote

I'm finishing my third year teaching here with my third different school and am looking into receiving my pension money back. I talked to another foreign teacher at my school who has been in Korea for many years and he said that he expects to receive quite a bit of money (several years worth of pension money) when he finally decides to return home. According to the pension office, I have only paid into pension for one year (this past year) even though my previous employers took money from my monthly pay for pension, taxes, etc.

So before I accuse anyone of anything, is there any other reason (other than my previous hagwons giving me the shaft) for me to not have accumulated pension money for the past 3 years?

(I was thinking about it more and realized that I never received a medical insurance booklet in my first year nor was either employer able to give me proof of my paying taxes in Korea. I had good relationships with my past employers and still keep in touch with them so it's a bit of a shock to realize that I have likely been scammed for about 6M won.)
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Young FRANKenstein



Joined: 02 Oct 2006
Location: Castle Frankenstein (that's FRONKensteen)

PostPosted: Wed Feb 28, 2007 4:20 am    Post subject: Re: No payments to pension? Reply with quote

Unreal wrote:
So before I accuse anyone of anything, is there any other reason (other than my previous hagwons giving me the shaft) for me to not have accumulated pension money for the past 3 years?

No. If they took your deductions, it was their responsibility to give them over to the pension office. File with the office (you'll probably need your payslips as proof of payment), and they will get the money from the school.

If you no longer have proof of deductions made, the pension office will still get the money from the school, but only after you pay YOUR contributions (again) to the school.
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