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marsavalanche
Joined: 27 Aug 2010
Location: where pretty lies perish
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 Posted: Sat Jan 01, 2011 2:22 am Post subject: Pension dilemma |
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I need some help with regard to collecting my pension.
I leave Korea in two weeks but plan on returning on a new contract in February. Do I still have time to collect my pension?
Also, let's say I didn't collect my pension and came back to Korea in Feb., would the money still be there and added to the next pension payments for my next job?
Thank you. |
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Ice Tea
Joined: 23 Nov 2008
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| Posted: Sat Jan 01, 2011 2:28 am Post subject: |
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| I left for a year, came back, my pension money was still there. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Jan 01, 2011 2:41 am Post subject: Re: Pension dilemma |
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| marsavalanche wrote: |
I need some help with regard to collecting my pension.
I leave Korea in two weeks but plan on returning on a new contract in February. Do I still have time to collect my pension?
Also, let's say I didn't collect my pension and came back to Korea in Feb., would the money still be there and added to the next pension payments for my next job?
Thank you. |
You CAN collect it before you leave (providing you have a one way ticket out of Korea and are NOT returning on the same visa).
IF you do not collect it on your way out this time it will stay with the NPS and slowly collect interest until you do finally leave for good and collect it.
If your new job pays into the NPS it will just be added to your balance that is already there.
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marsavalanche
Joined: 27 Aug 2010
Location: where pretty lies perish
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| Posted: Sat Jan 01, 2011 2:57 am Post subject: |
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| Hey thanks guys, I appreciate that! |
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lifeinkorea
Joined: 24 Jan 2009
Location: somewhere in China
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| Posted: Sat Jan 01, 2011 3:00 am Post subject: |
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| Quote: |
| it will stay with the NPS and slowly collect interest |
What if the pension money was given to the teacher, but the teacher wants to return to teach? Can that teacher put the money back into pension to collect the interest? |
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