Korean Job Discussion Forums

[WendyRose]

I was browsing these forums a few weeks ago and came across the "Pension Refund" topic. I decided to look into it a little bit and see how much I would likely have waiting for me when I leave (I'm only staying 1 year). I looked through my bank book to see how much taxes were taken out of my account and noticed that it was only 45K each check (I get paid 2.0- 2.3 each month depending on overtime). That obviously isn't 4.5%. So I called the Pension refund office. Sure enough, my school has been contributing, so no problems there. They couldn't tell me how much since I wasn't there in person.

A few weeks later I asked my adviser how much taxes were taken out of my paycheck (I've never received a pay stub). She said that the school covers all my health insurance and taxes. The only thing I pay for is lunch (45K a month).

Is this normal? Will I still get my pension refund? If it makes a difference, I work for GEPIK. My school changed the contract slightly so that they pay for my utilities, as well, so maybe this is just part of that?

Any thoughts would be nice.

[OculisOrbis]

Sounds strange. Pension has always given me my balance over the phone whenever I have called them. Take that number and divide by two to figure out your employer contribution. More than likely your employer is reporting your income to be in the 1 mil per month range. That way it gives the appearance they are legit and makes it less likely that you will question them if you attempt a check like you did.

Get more information and make sure, but I'll treat you to a night of drinks if your employer is actually reporting your real income and also making the correct payments on that amount....

From your description it sounds like your school is not providing you with a salary statement. It helps a lot to verify things if you get a salary statement every month from your employer that details gross pay, each deduction, and your net pay. That piece of paper, along with a copy of your contract, is good to show to pension office when explaining your true income. Pension office will take over at that point - you just have to mae up your portion of the deficit first.

Also, the amount that is being deducted is very low. It wouldn't even begin to cover tax, pension and health payments. You may not to have to pay tax, but you do have to enrolled in the health plan. Did you get your National Health Insurance card from your employer? Call NHIC and see if your enrolled in that, too.

[WendyRose]

[Tobias]

[OculisOrbis]

[WendyRose]

[moosehead]

first off, 45k for lunch??? what are you all being fed? sushi and wine??

there are a couple of possibilities - pension isn't always paid monthly so whatever your school has paid may not be what you might think it has been - same w/insurance, those payments are actually made quarterly -

I did work for one school that AFTER deductions were made, my salary was 2.7 so they paid everything first and then paid me - very very rare, but it does happen.

there is a likelihood they aren't reporting the correct amount, tho, so overall it does all sound quite odd but K accounting isn't always the way one would expect.

be cool about it but do explain you were mistaken, that you do need a pay statement (? like duh, yes!) and would like to know how much is being deducted for various entitites. just say you are curious, etc.

please do let us know, it is a bit odd.

[ontheway]

1st - 45,000 won per month for 20 lunches (or so) isn't bad.

And, since that's all you're paying, it's a really good deal.

But, do keep asking questions, and eventually they'll figure out that actually you are supposed to be paying 1/2 of the pension, 1/2 of your health insurance and all of your own utilities.

Then they can deduct those amounts retroactively.

You are sure honest to want to give all that money back.

[Mr. Pink]

[cruisemonkey]

[WendyRose]

[Tobias]

Call the office again. Get this pension thing straightened out now. Also, get the utilities straightened out. If you neglect this, you'll end up forking over a rather large amount of money down the road when they figure out you are responsible for your utilities and your portion of the pension. Running on hopes and dreams with fingers crossed is never the best way to go.

[WendyRose]

[Snowflake]

Hey!
Yes it's all correct! Honestly! Which is why I found it hard to leave that school...
I got my pension statement after 2 years and they paid up everything.

[kasain]

45,000 for lunch.....

I pay 3,000 for lunch a day. So it's about 66,000 a month