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Reclaiming Pension for UK citizens - again

 
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R-Seoul



Joined: 23 Aug 2006
Location: your place
PostPosted: Wed Nov 28, 2007 6:16 pm    Post subject: Reclaiming Pension for UK citizens - again Reply with quote
I know this has been done to death but the search function isn't exactly playing ball.

Can anyone explain how to go about reclaiming pension? Or just link to a thread where this has been discussed?

I'm not even sure if UK citizens can reclaim pension, any Brits care to confirm?
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mrsquirrel



Joined: 13 Dec 2006
PostPosted: Wed Nov 28, 2007 6:17 pm    Post subject: Reply with quote
I'm sure it's something like we can have it transferred to the National Insurance fund in the UK or something like that.
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R-Seoul



Joined: 23 Aug 2006
Location: your place
PostPosted: Wed Nov 28, 2007 6:23 pm    Post subject: Reply with quote
Just done a bit of amateur sleuthing and the sad answer appears to be; No pension refund for UK citizens. Bugger.
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mrsquirrel



Joined: 13 Dec 2006
PostPosted: Wed Nov 28, 2007 6:52 pm    Post subject: Reply with quote
but it can be contributed towards your UK pension
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R-Seoul



Joined: 23 Aug 2006
Location: your place
PostPosted: Wed Nov 28, 2007 7:23 pm    Post subject: Reply with quote
Afraid not, no reciprocal agreement between the two governments.
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mrsquirrel



Joined: 13 Dec 2006
PostPosted: Wed Nov 28, 2007 7:25 pm    Post subject: Reply with quote
Look into it,

It has been on here before that you can apply to have it transfered back to the UK pension scheme.

You won't get your hands on it until you are at pension receiving age (if there is still a state pension at that point)
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laura-and-ryan



Joined: 01 Sep 2007
Location: Bucheon, Orig from Ireland and Canada
PostPosted: Wed Nov 28, 2007 9:26 pm    Post subject: Reply with quote
mrsquirrel wrote:
Look into it,

It has been on here before that you can apply to have it transfered back to the UK pension scheme.

You won't get your hands on it until you are at pension receiving age (if there is still a state pension at that point)


BINGO!
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R-Seoul



Joined: 23 Aug 2006
Location: your place
PostPosted: Wed Nov 28, 2007 11:16 pm    Post subject: Reply with quote
Afraid not, got a colleague to ring the pension office and they confirmed that there is no agreement between the two governments so nothing for us brits...
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea
PostPosted: Thu Nov 29, 2007 12:41 am    Post subject: Reply with quote
R-Seoul wrote:
Afraid not, got a colleague to ring the pension office and they confirmed that there is no agreement between the two governments so nothing for us brits...


I think someone along the line made some small errors.

http://www.nps.or.kr/jsppage/english/agreement/agreement_02_02_01.jsp

There are agreements between the UK and Korea.
They may not be what you want to hear, but there are agreements.

You may or may not be entitled to pension benefits (dependant on how long / much you have paid in). There is NO totalization for lump-sum refunds for UK citizens.

.
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Don Calliente



Joined: 31 Oct 2007
Location: SEOUL
PostPosted: Thu Nov 29, 2007 3:21 pm    Post subject: Re: Reclaiming Pension for UK citizens - again Reply with quote
R-Seoul wrote:
I know this has been done to death but the search function isn't exactly playing ball.

Can anyone explain how to go about reclaiming pension? Or just link to a thread where this has been discussed?

I'm not even sure if UK citizens can reclaim pension, any Brits care to confirm?


Went into the national pension office in Seoul in person few weeks back to find out after conflicting info.

You cannot reclaim a penny of that pension. Our countries do not have a reciprocal agreement.

Money down the F$cking drain pal....
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R-Seoul



Joined: 23 Aug 2006
Location: your place
PostPosted: Thu Nov 29, 2007 5:02 pm    Post subject: Reply with quote
Well the good news is that I was kind of aware of this before moving to Korea and negotiated a deal with my company that they pay me the