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Captain Marlow
Joined: 23 Apr 2008
Location: darkness
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 Posted: Mon Jan 24, 2011 8:28 pm Post subject: how long of a wait for pension? |
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i'm planning on leaving korea after about 3 years here, and am headed back to the states. i was wondering how long it usually takes to get your pension back from the korean govt? 1 ~ 2 months, or sooner?
also, does anyone know where the pension office is in daegu?
thanks for any help |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Jan 24, 2011 9:04 pm Post subject: Re: how long of a wait for pension? |
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| Captain Marlow wrote: |
i'm planning on leaving korea after about 3 years here, and am headed back to the states. i was wondering how long it usually takes to get your pension back from the korean govt? 1 ~ 2 months, or sooner?
also, does anyone know where the pension office is in daegu?
thanks for any help |
Unless there is a problem with the bank numbers that they get from you (meaning it may take forever)
it usually only takes 30-60 days for an offshore transfer of your pension but can be as long as 90 for overseas transfers.
If it is going into your Korean bank account it usually takes about 30 days after you leave.
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tideout
Joined: 12 Dec 2010
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| Posted: Tue Jan 25, 2011 6:27 am Post subject: Re: how long of a wait for pension? |
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| ttompatz wrote: |
| Captain Marlow wrote: |
i'm planning on leaving korea after about 3 years here, and am headed back to the states. i was wondering how long it usually takes to get your pension back from the korean govt? 1 ~ 2 months, or sooner?
also, does anyone know where the pension office is in daegu?
thanks for any help |
Unless there is a problem with the bank numbers that they get from you (meaning it may take forever)
it usually only takes 30-60 days for an offshore transfer of your pension but can be as long as 90 for overseas transfers.
If it is going into your Korean bank account it usually takes about 30 days after you leave.
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Do you know if the Pension office can deposit the pension in a KEB account as long as I'm leaving SK and can show my airline ticket? I have a regular savings account but the other account is set up to auto transfer money. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Jan 25, 2011 4:04 pm Post subject: Re: how long of a wait for pension? |
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| tideout wrote: |
| ttompatz wrote: |
| Captain Marlow wrote: |
i'm planning on leaving korea after about 3 years here, and am headed back to the states. i was wondering how long it usually takes to get your pension back from the korean govt? 1 ~ 2 months, or sooner?
also, does anyone know where the pension office is in daegu?
thanks for any help |
Unless there is a problem with the bank numbers that they get from you (meaning it may take forever)
it usually only takes 30-60 days for an offshore transfer of your pension but can be as long as 90 for overseas transfers.
If it is going into your Korean bank account it usually takes about 30 days after you leave.
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Do you know if the Pension office can deposit the pension in a KEB account as long as I'm leaving SK and can show my airline ticket? I have a regular savings account but the other account is set up to auto transfer money. |
They did for me (but Woori and not KEB).
As long as you have a departure ticket and your visa expires or is canceled you can get your refund about 30 days after your departure (even if you return on a new visa).
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tideout
Joined: 12 Dec 2010
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| Posted: Tue Jan 25, 2011 4:17 pm Post subject: |
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| Thanks Ttom |
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decolyon
Joined: 24 Jul 2010
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| Posted: Tue Jan 25, 2011 5:19 pm Post subject: |
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Pretty quick if it's going into a Korean bank account (which I suggest you have happen. )
I cashed mine out a year or so ago when I went on the road for a while. It took about 2 weeks after my school made the last deposit to the pension account.
If you want it to go to an American account it can take weeks or even months more. Just have it sent to a Korean account then transfer it yourself back to an American bank, unless you're not in a hurry.
I don't know about Daegu, but the pension offices I've been to here in Seoul are far and away the most efficient, well run, and friendly government offices I've ever encountered in my life. Cheers to you Korean pension system. |
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mcviking
Joined: 24 Mar 2009
Location: 'Fantastic' America
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| Posted: Wed Jan 26, 2011 2:27 pm Post subject: |
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| I got my pension in about 30 days after I left Korea into my US checking account. Pension was about the only thing as far as Korean paper work goes that isn't a pain in the ass. Took about 5 minutes to process. |
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