Korean Job Discussion Forums

[citizen erased]

I was told that a teacher does not receive pension for time worked if the contract is not completed. Is this true?

[Whistleblower]

Untrue. Pension must be contributed for the time you worked at a hagwon. You hagwon is feeding you hogwash.

[Dome Vans]

How much more unpopular would that make 11th month firings? No severance, no plane ticket home and you've just lost about 2 million won from your pension. I'd think there'd be a murder if that was the case.

[Ut videam]

You may be confusing pension with severance.

Pension is the money that's deducted from your paycheck each month, matched by your employer, and deposited with your account with the National Pension Service. That money is not affected by the length of time you work.

Severance is a payment at the conclusion of employment (required by Korean labor law in most cases) of one month's average salary for every twelve months worked. Severance is not prorated, so if you don't work 12 months, you don't get it.

[nomad-ish]

are you sure there's any money in the pension account to refund? better check.

[icicle]

As long as employer has paid the money to the pension fund then there is no restriction of being able to get it back if you finish your contract early. It is easy to confirm that it has been paid by talking to the pension organistion. Reference Number for your pension is the same as the number on your ARC.

[Young FRANKenstein]