Korean Job Discussion Forums

[Novalis]

1) Keep in mind that I teach in a hagwan. About the national pension--the way my employer explained it to me, he deducts a certain percentage every month from my paycheck for the national pension and then at the end of my contract, I do some paper work, and I get it back. However, I just had a teacher who's been teaching here for 7 years tell me that according to Korean law my employer shouldn't be deducting anything for the national pension from my paycheck per month. Which is true--what my employer told me or what this experienced teacher told me?

2) I have my paycheck scanned onto my computer (Microsoft Office Document Imaging). Can anyone tell me how I can post that on this Web site, so I can show it to everybody, so somebody can tell me what it all means? I don't know Korean, so I don't know what the deductions are for on my paycheck.

[wylde]

you are paying the correct tax

9%

[kangnamdragon]

The title of the thread implies you are confusing severence pay with the national pension. They are different. You should be paying a tax for the pension. Severence pay will be given to you at the end of your contract and is above what you are now earning.

[J.B. Clamence]

[Novalis]

[Skippy]

Wow - 7 years and probally reading ESL cafe a little you are ignorant about a lot.

Lets cover three things here.

Tax - Depending on school from about 3 percent to 10 percent. Mine is 5 percent. This you do not get back. Some school deduct and do not pay the government.

Severence Pay or Year End Bonus: This should never be deducted from you pay check. The law is you work one year you get a severence pay equal to one month of normal pay. If your boss is deducting money for a severence that is nasty and illegal.

Pension. I am not sure but you school should not be deducting from your pay check. I could be wrong. I have had to fill out paperwork that asked for my bank details. But pension is 5% of your paycheck. That is what should be deducted from you paycheck. Your employer is suppose to match that 5 percent every month. Now if you are Canadian or American you can get your pension back. You just have to submit some paper work - show your plane ticket and you get the money back. If you Ozzie or Kiwi no luck you loose it.

There should be a way to check if your money being deducted for Pension is going to the National Office. People Can you help me and give me a number for this guy to call.

Skippy the Evil Twin

[Novalis]

[kangnamdragon]

[animalbirdfish]

I've heard that only larger businesses have to pay into the pension scheme. That is, if they have more than six employees. otherwise, it's optional.

[Novalis]

animalbirdfish

[schwa]

Fact is, this has been one of the most confused threads I've ever seen here! Almost every post on it contains a misnomer, a misreading, a misunderstanding, or misinformation.