Korean Job Discussion Forums

angelarena · Joined: 29 Apr 2009

Hello. After a year of working for my boss, she surprisingly sells her company (not warning us before she did). After checking the pension office, I discovered she had not been reporting my pension. Upon discovery, she offered three options: 1. to roll it over to the new director 2. to report it to the pension office 3. to give me the cash. I believe #1 is out, but does anyone know the pros and cons of 2 vs. 3? Thanks!

lifeinkorea · Joined: 24 Jan 2009 Location: somewhere in China

If she is offering option 2, then why didn't she just give them the money in the first place? Does she have that money ready to give them now?

My instincts tell me she is not planning on giving you the money. If you choose option 2, she won't do anything and it will be like option 1. It will roll over anyway. She will argue it's the new owner's problem. The new owner will argue they knew nothing of it and they don't owe you. You won't get anything.

Option 3 is only good if the amount is what you want. In my case, I left a hagwon job, but I used them as a reference for a better job and in a better location. You need to weigh your options with your life and see how it fits. Don't just solve the problem as it relates to the school. Where do YOU want to live? Where do YOU want to work?

angelarena · Joined: 29 Apr 2009

I believe option 3 may be better for me since i may need the money in a couple of months. What are my legal options if she is stalling and won't pay anyway. Something tells me she may not have the money.

winterfall · Joined: 21 May 2009

If you take the cash make sure it has her contributions in it too. You should have double of whatever you put "Employee Matching". If not report it to the pension office / labor board.

Its korean law to provide pension.

lifeinkorea · Joined: 24 Jan 2009 Location: somewhere in China

angelarena · Joined: 29 Apr 2009

Thank you for all of your suggestions! Be blessed!

Troglodyte · Joined: 06 Dec 2009

Be sure to let us know how it turns out. Might be useful to someone else later.

Louis VI · Joined: 05 Jul 2010 Location: In my Kingdom

A bird in the hand is worth two in the bush.

lifeinkorea · Joined: 24 Jan 2009 Location: somewhere in China

angelarena · Joined: 29 Apr 2009

I am still waiting. We have been talking. Now she believes that you take taxes off of the pension. Is this correct?

nw25th · Joined: 15 Feb 2009 Location: Daejeon

tanklor1 · Joined: 13 Jun 2006

I vote take her to the pension office.

angelarena · Joined: 29 Apr 2009

Thanks for the reply. My plan was to just turn it over to the pension office. The pension man I had been dealing with initially told me that if she did not give me the money, then I could tell him and they would pursue the matter. About a week later, his story changed and is now saying there is nothing they can do. I don't know if it's because she is no longer the director or because he is just choosing not to help. At any rate, I will have to locate another pension office in Seoul. This one is in Pyeongtaek:(

angelarena · Joined: 29 Apr 2009

... and it was being deducted...

phamjosi · Joined: 17 Mar 2010

i'm currently trying to get my pension also. My employer has been reporting me as earning much less than I earned and the pension office should have the information changed later today.

However, I've also heard a rumor that the school will change owners. Would my boss still owe me the money that the pension office says it owes me? Or would that be just voided because of the change of ownership?