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t1m1ty
Joined: 24 May 2009
Location: Bundang
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 Posted: Fri Jun 03, 2011 2:14 am Post subject: Pension problem? |
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I've been in Korea for two years now. I wasn't receiving any health insurance when I began, but about mid contract my school provided insurance through the usual 50/50 rule, along with pension. However, 2 months ago, they decided to stop paying for my insurance and pension.
I'm leaving for the states in August. Will I have any problems receiving the pension money? I know that I have to take my one-way ticket to the pension clerk and it takes about 2 months, but will the sudden stop affect it it any way? I should still be able to receive the money that was placed into it throughout the year that I've had it being done right?
Thanks in advance! |
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lifeinkorea
Joined: 24 Jan 2009
Location: somewhere in China
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| Posted: Fri Jun 03, 2011 5:09 am Post subject: |
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| it takes about 2 months |
I don't know what "it" you are referring to. It should take about 1 month, ONE, after you leave the country to get your pension money. I asked the pension office before I left when I could expect it, and they pointed to a calendar and said, "This week, or this week, or this week, or this week". So, basically anytime the following month. Don't expect it the first two weeks. Third week if you are lucky. More likely sometime during the 4th week.
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| I should still be able to receive the money that was placed into it throughout the year that I've had it being done right? |
I don't understand what you mean by "I've had it being done right". Here are the basics:
1. You put in half, they put in half.
2. If you don't put in half, the pension office will want you to back-pay during the year. As long as you paid, you should get your half.
3. If the school doesn't pay or stops paying, then the pension office will need to talk to them about this. You probably should square this away with them. I also asked them how much I should be expecting. See if that is the same (or more) as twice as much as you will put in.
4. It's possible there might be a delay if the school hasn't paid. They are legally obligated to do this. You should ask them to make sure and find out what they plan on doing if the school doesn't back-pay any pension owed to you.
It's better to talk to them now than wait till you have left the country. |
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t1m1ty
Joined: 24 May 2009
Location: Bundang
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| Posted: Fri Jun 03, 2011 8:49 am Post subject: |
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Sorry, I forgot the comma before the "right".
The place I'm working at right now stopped all insurance plans for all teachers at my school. They're no longer paying and I'm no longer paying for both insurance or pension (last paycheck stub had more money than usual due to my school not paying for the insurance or pension anymore). On my earlier pay stubs, it showed that "x" amount was taken out for insurance, and "y" amount was taken out for national pension. Before I leave the country, I know that I have to go to the pension clerk to give them my information.
What my question was though, would there be any problems because of this stop being randomly done? |
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lifeinkorea
Joined: 24 Jan 2009
Location: somewhere in China
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| Posted: Fri Jun 03, 2011 9:25 am Post subject: |
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| What my question was though, would there be any problems because of this stop being randomly done? |
If you have to ask that, then you haven't agreed to stop payment. You have just done nothing to collect on it.
So, look at what I said. If you tell the pension office, they will talk to the school. They might hold your pay until they get all the pension money from the school. You need to talk to the pension office about that. That is where your question should be changed and directed towards.
You need to tell them the school stopped paying into it. From there you have 2 choices.
1) If you don't want the other pension contributions that weren't deposited, then you need to tell the pension office that. This would, in my opinion, communicate to them that you want what is in the account now. It would be pointless for them to try to collect on additional money then and you would get your money back quicker.
2) If you want the pension money that wasn't paid into it, then you need to tell the pension office this too to get the ball rolling. The sooner the better.
It's possible you could do option 2 and then if the school puts up a fight, discuss a lower figure and you will hold off trying to collect the rest from them. Technically speaking, I see nothing from you that would indicate they don't owe all of your pension money.
You would have had to have signed some documents to get out of this obligation on their part. If you didn't, then it would be the same as anyone else. In that case, the money is yours. |
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t1m1ty
Joined: 24 May 2009
Location: Bundang
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| Posted: Fri Jun 03, 2011 9:11 pm Post subject: |
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Ah.. Thanks for the replies! I'll be calling them first thing Tuesday.
I've agreed with my school that I no longer need the non-paid part of my pension/insurance. When leaving the country, I just want what was paid for.
Thanks again! |
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