Korean Job Discussion Forums

[gajackson1]

Ok, so I just did a minor update to the Pension sticky up above, but have a different question/issue -

So, C's Uni is part of a Private Pension Fund, like a number of people are part of (or supposed to be) - whether they are aware of it, or not.

The point here is that we do have some faith in the National Pension fund policies - we know how to work within that system.

However, this is a private fund - basically, after C. leaves the Uni & the country, then her employer starts the ball with the Uni admin, to get the paperwork done with the private fund, to refund her 2.5 years of ('documented') payment refunds.

Good faith issues aside, what to do if the Uni and/or private pension fund refuses to pay, and we are abroad (with no intention of returning for the forseeable future)? Anyone have any experience/advice/suggestions for this type of scenario?

Regards,

G.

(PS ~ yep, we are already starting to build a file of the information, contacts, etc.)

[gajackson1]

sorry - this was getting close to page 3; I am guessing there will be someone with an answer, so forgive the self-bump kindly.

[weatherman]

As a heads up, it would be best to contact the private company directly with your information. They would be able to give you number on how much dough you are getting back. What sucks about this is that your contrabution to the fund has already been taxed, and when you get your pension back it will be taxed again, a double tax if you want to call it that. Dont let the University or college stone wall information, get it yourself, find the information yourself, for this vital for anything aspect in living in Korea.

[gajackson1]

Greatly appreciated, WM - I basically had to go in & crack skulls over this one on C's behalf. But think we have it sorted.

What would worry me more is that I would hazard a guess that more than a few private fund places & businesses were in collusion over this sort of thing, and often the employee never sees squat.

Regards,

G.