Korean Job Discussion Forums

[Sine qua non]

...and two weeks later the funds have just arrived in my home bank account, while still have a few days until I fly back home.

[Rejam]

If someone can help me with this problem, I'd really appreciate it. I've tried asking my other foreigner friends about this but nobody knows the answer.

Basically, I'm a Canadian who has been teaching at my Hagwon for 10 months now. The contract I signed didn't include a pension but I have email correspondences with the Hagwon when we were negotiating my contract that a pension will be included. However, I only found out 2 months ago that my Hagwon director hasn't yet paid into my pension and it was only when I persisted that the first pension payment was deducted from my salary last month. So my question is this: can pension payments be retroactive. This is quite a significant amount of money to not be getting. And after reading some of the threads, I'm under the impression that pension payments for foreign teachers are obligatory and not optional. Here's another twist, my Hagwon 'recommended' that I opt for private health insurance instead of the Korean National Health Insurance because the payments are cheaper. My director has explained to me that because I didn't pay into the National Health Insurance that I can't receive the pension since these two institutions are tied. Is this true? I've only been enrolled in the National Health Insurance since last month.

I hope someone can help me with this. My teaching contract ends in 2 months.

[icnelly]

How do you go about checking on your pension account? Do you have to actually visit your local pension office, the main office in Seoul, or can you call the 1355 number? I tried to call just to see, and they hung up on me.

[sojourner1]

Is there a web page we can enter our ID #'s to check our pension fund balances?

[TiGrBaLm]

Hi,

Is it possible to apply for the pension refund after you've left Korea?
How does one go about doing so?

Thanks

[MANDRL]

My fiancee and I want to apply for our pension refunds as soon as we get our outbound tickets in December of this year, our contract is up Jan. 2. Our question is: if you apply for the refund before your last payday, will your refund exclude your last paycheck's contribution? Thanks!

[krissy123]

Hi, I know this has been asked on here, but I didn't see the answer: Is there a number to call or something to find out your pension balance? I left Korea about a week ago, so I've been to the office, but I forgot to ask what the total is...
Also, how long does it typically take to receive? Does it differ by nationality? (I'm Cdn.)

[Len8]

What is the minimum number of employees that a company must have to have the national pension

[andrew]

*****

[write of weigh]

Worked at a hagwon for a year which did not pay into the pension fund but did take the money out of my paycheck every month.

The school I am at currently does pay into the fund and after every year I recieve some kind of slip of notification that payments have been made.

My guess is, if no slip...u got jipped! But if u find to the contrary, I'd like to know.

[elliemk]

I'll be 59 in November. Does anyone know what happens after you reach 60? I'm asking because I plan to be here at least 2 years and probably 5 years.

Do I keep paying into the pension plan after I reach 60, or is everything mute after that age?

Apprecitate your help.

[Len8]

elliemak you are entitled to get back your pension after you turn 60. I am not sure if you have to leave the country to get it.

[elliemk]

Okay, thanks. I guess my question is will I still pay into after 60? What if I'm in country (Korea) when I turn 60? Do I get it then or do I get it when I leave?

Also, do U.S. citizens have to pay taxes on this money, or does it fall into the same realm as our normal paychecks. Thanks.

[Hellsmk2]

How do you go about finding out if payments are being made? I'm fresh off the boat here, but want to check that the payments are being made. I still need to get my ARC at the moment.

Also, how do we know how much should be being paid in? Thank you :)

[ttompatz]