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sokobobbie
Joined: 04 Nov 2009
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 Posted: Sat Aug 14, 2010 1:03 am Post subject: UK - Korean pension exchanged for UK pension credits |
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*Might have posted this in the wrong forum not sure - sorry if I did*
Can you do this? How would I go about it? Do I start while here in Korea or back in the UK? |
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Forest
Joined: 09 Aug 2010
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| Posted: Wed Sep 01, 2010 11:13 pm Post subject: |
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i am also wondering about this. if anyone knows or has done it please share.
as far as i'm aware you can have your korean pension contributions transferred into your national insurance account back home. therefore i am pretty sure that you would have to organize it from korea. i think through a combination of your employer and the korean pension office. |
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Junior
Joined: 18 Nov 2005
Location: the eye
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| Posted: Wed Sep 01, 2010 11:32 pm Post subject: |
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Interesting news.
Do you have a useful link? |
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Forest
Joined: 09 Aug 2010
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sugarkane59
Joined: 10 Jun 2009
Location: Seoul
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| Posted: Thu Sep 02, 2010 3:06 am Post subject: |
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I think this applies to people working in British companies being sent to Korea for work, Koreans working in the UK and self-employed people (which we aren't)
I don't believe that Brits can do anything with the pension stuff, but I know Canadians can.
p.s. "② Therefore, there is no pension benefits under the Convention, whether the payment is granted depends on the each country's legislation respectively.
③ And a Korean Lump-sum refund is not paid to the nationals of U.K.' |
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Hotpants
Joined: 27 Jan 2006
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| Posted: Fri Sep 03, 2010 10:42 pm Post subject: |
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| As far as I'm aware, this does only apply if you work for a British company overseas. However, there is nothing to stop you from making voluntary contributions while you are overseas (highly recommended). You can get more info from HM Revenue & Customs website. You pay at a higher rate, but it 'only' totals about 600 quid per year, so is affordable on an average K-salary. |
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