Korean Job Discussion Forums

[hugekebab]

Hi,

Myself and another of the teachers at my private uni are wondering if we are legally entitled to severance pay, even in the face of its omission from our contracts?

I said I think that we aren't but another of the teachers swears that the last teacher who was here got a solicitor and threatened legal action and was then given his severance pay (6 million won, so no small fry). Personally I think that this is likely bullshit and think we have no chance, but some informed opinions would be helpful on this issue.

Thanks

[bassexpander]

As I've always heard it, they are exempt if they are enrolled in a private pension plan.

Just what I've read on here.

[ttompatz]

[Zaria32]

tt, that things 17 pages long, how about a hint?

[Hanson]

I just found out that if you are in the Teacher's Pension Plan (not the National one), the university is not required to pay severence.

Check out justaguy's posts:

http://forums.eslcafe.com/korea/viewtopic.php?t=125254

[Toronto]

1). The amount of lump sum by the retirement insurance, etc., however, shall not be smaller than that of severance pay pursuant to paragraph (1).

The Teachers Pension is better than severance. The problem is what i have posted above. Severance is based on real pay that includes OT & benefits over an average of three months.

You need to ask the Techers Pension office why there is a difference in the way they calculate the pay you deserve.

You can find more information here.

KTPF Website: http://www.ktpf.or.kr/website/pension/pension03.jsp (click the Korean letters to see)

[Toronto]

justaguy - This five year thing can you provide a link that says where it says the school does not have to pay for 5 years? I think you have been hosed by your former school if they did not pay the first five years. I have been in the KTPF for 8 years and the school has always matched my funds.

I enter the http://www.ktpf.or.kr/ website logon and I can see each month's contributions by myself and the school over 8 years.

There is so much bad info on the net. It drives me nuts.

Read here - http://www.ktpf.or.kr/website/pension/pension03.jsp

개인부담금 (Personal Contribution)
급여에 소요되는 비용으로 교직원이 부담하는 금액
※ 부담율 = 보수월액의 85/1,000
KTP system is managed by three kinds of the contributions from the school personnel, school foundation and government.
School personnel, which are composed of teaching staff and other employees belonging to a school, contribute 8.5 percent of their monthly salary, while the school foundation and government share another 8.5 percent of contributions.
School foundations contribute 5 percent of teachers` monthly salaries and 8.5 percent of other employees` monthly salaries. The government contributes 3.5 percent of contributions for teachers, which is grounded on the Private School Personnel Pension Act.

[Hanson]

[Hanson]

[Hanson]

[Toronto]

Before I begin Hanson do i know you? I hope so because this is a very infomative discusion. We are on the same side, I want to know as much and get as much out of this system.

Interesting:


Where do the rest of the contributions go (5% employer, 3.5% gov't), you may wonder? It simply goes to operating the Teacher's Pension - paying employees (like the guys who came to our office to explain the plan to us), paying for office space, etc... The employer is still paying the contributions, and so is the gov't, but it's not getting to you...

This i did not know. But do figure that someone is acting as a middle-man takign a cut, welcome to Korea.

I keep forgeting that it is Severance AND national pension plan VERSUS the teachers pension.

What kind of lump sum payment does the National Pension offer? I know the KTPF offers 48 months paychecks after 20 years service - versus - the severance that after 20 years service would work out to 20 months paychecks.

-

연금청산지급 (Clearing Off One`s Annuity )
연금을 받을 권리가 있는 자가 외국에 이민하게 된 때, 그리고 국적을 상실한 때에는 수급방법상의 어려움 등으로 본인이 원하는 바에 따라 연금에 갈음하여 출국하는 달 또는 국적을 상실하는 달의 다음달을 기준으로 한 4년 분의 연금에 상당하는 금액을 일시에 청산하여 지급 받을 수 있음.
If an annuitant wants KTP to clear off his or her annuity because of emigration to other country, or loss of his or her nationality, he or she can receive the lump-sum money equivalent to his or her 4 years` annuity which is calculated from the following month after he or she emigrated from Korea or lost his or her nationality

[Hanson]

[Toronto]

Hanson 3 year old daughter - time flies. Me? about to become a father soon, hence the reason I am interested in pension issues.
I need to get the money issues in order.

I must say that national plan looks pretty nice with the money you pulled out. But in the future...

Based on current estimates, the total outgoing payments from the national pension plan are expected to exceed the plans incoming funds in 2036. The reserve will be completely depleted by 2047, according to the National Pension Development Committee.
[url]www.korea.net/news/issues/issueDetailView.asp?board_no=12933[/url]
AND
a very good story here
[url]http://www.globalaging.org/pension/world/2004/challenges.htm[/url]

A second point I would like to make is that why do places like the uni-hawgwons keep the old system Severance-National Pension (S-NP) if it cost them more money? They are the first people to go looking to cut corners to save money. The Korean teachers at the university seem pretty happy with the Korea Teachers Pension (KTP) system, so it can't be that bad (I think � I hope).

Third, Hanson I probably know you (or will know you one of these days) and you are probably an affable chap. I want to be careful not to enter into a debate of each system. The focus should be on outlining how to maximize our benefits under the present system. I see no way to revert back to the old system. I concede the S-NP looks better but let us focus on how to get the most out of the KTP, because the KTP does a terrible job of educating their customers (us) about their plan. Can you tell me the name of the person who visited your school from the KTP?

I am going to try and claim this benefit next week. It has been 4 years but I will still push to claim.

사망조위금 (Condolence Benefit )
교직원이 사망하거나 교직원의 배우자 또는 직계존속이 사망한 때에 지급하는 급여(급여의 사유가 발생한 날로부터 3년 이내에 신청).
사망조위금액 = 교직원 본인이 사망한 경우 보수월액의 3배, 기타의 경우 보수월액의 1배
Condolence Benefit is paid when a member of school personnel, or his or her spouse, or lineal ascendant dies. The time limit for requesting condolence benefit is 3 year after the person (or persons) in question died.
Condolence Benefit is paid three times as much as his or her monthly salary when the dead person is a member of school personnel himself or herself. But the amount of Condolence Benefit is the same size of one month`s monthly salary when the other person(or persons) mentioned above dies.

And if they say no�

심사청구 (Request of Investigation )
급여에 관한 결정 또는 부담금의 징수 기타 이 법에 의한 처분 또는 급여에 관하여 이의가 있는 자가 급여재심위원회에 그 심사를 청구할 수 있도록 한 제도이며, 심사의 청구는 처분이 있은 날로부터 180일, 그 사실을 안 날로부터 90일 이내에 하여야 함.
If one disagrees to KTP`s decision on his or her contribution, benefits, and etc., he or she can ask the Benefit Re-examination committee to screen it in 180 days after KTP`s decision was made or in 90 days after he or she was convinced of it.

And if the answer is still no then it is time to publish a nasty letter in the Korea Times.

[justaguy]

Toronto, I'm sorry but I don't have a link to my information. The information I have came from a collegue who hired a lawyer to investigate this foolishnss. He thought he was entitled to severence and matching pension contributions. Boy was he pissed when he found out otherwise.

The non payment of matching contributions for five years thing was paid, but as a lump sum when I started my fifth year. I don't want anyone to misunderstand and think the money was never paid. It was just witheld. Why this was done I have no idea.

I'm curious about the other benefits the Private Plan has. I didn't know these existed. We all need to know what they are. If the schools want to weasel out of paying severence and so foth, then I suggest getting every benefit you are entitled to.

You are entitled to your entitlements.

[Toronto]

They are right here.

KTPF Website: http://www.ktpf.or.kr/website/pension/pension03.jsp (click the Korean letters to see)

Ps> justaguy are you related to someguy on the Marmot's Hole?