Korean Job Discussion Forums

[Mikejelai]

I am doing some research regarding the Korean Private Teacher's Pension, and I need to know how many, if any, foreign teachers have been with the same private university for more than 5 years. Please note that I am interested in hearing from you only if you are enrolled in the private pension, not the national pension.

By the way, my purpose in doing this research is to learn if the private universities are using the private pension fund act (which went into effect somewhere around 2000 - 2002) to avoid paying pensions to foreign teachers thereby saving millions of dollars. [/i]

[Bibbitybop]

What about people who were at 2 different private universities that both participated in the private pension fund? I know someone who went through this.

[busanmum]

I signed my 8th contract with my private university and have been contributing to the private pension since I started there. My monthly contributions have been roughly 120,000 a month and when I checked my pension balance through the KTPF website last month my total is almost 20 million won, so I've been 'matched' by my school. (7 years=84 months 20 mil/84=238,000 and change).

Anecdotally, I have a friend at another private university who has been there 10 years. I don't know how long he has been in the private, rather than public, pension plan, but his pension also took a big jump after 5 years of contributions.

Finally, a group of friends who have been at a third private university for more than 5 years have the proper amount sitting in their KTPF account.

It may be different in Seoul, but down in Busan 3 private schools are on the up-and-up at least.

[Koharski]

Being discussed in the other thread you started about this topic. Yeah, the one right below this one.

http://forums.eslcafe.com/korea/viewtopic.php?t=203900&postdays=0&postorder=asc&start=0

Koharski