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Pikkle
Joined: 17 Jun 2009
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 Posted: Thu Jul 28, 2011 12:47 am Post subject: Notice of Appointment & Pension |
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I have heard of a lot of people that have gone home, gotten their pension and then come back. My question is a bit different from that formula though, because I already have a Notice of Appointment for my next visa.
Do you think it's possible to apply for my pension now or will it cancel my Notice of Appointment? Are these two things related in any way? Just wondering if it's possible to get my pension out during my hiatus even though I already have a Notice of Appointment for a new visa. (I'm home for too long to just transfer my visa, so I have to get a brand new one while I'm there) |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Thu Jul 28, 2011 1:05 am Post subject: Re: Notice of Appointment & Pension |
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| Pikkle wrote: |
I have heard of a lot of people that have gone home, gotten their pension and then come back. My question is a bit different from that formula though, because I already have a Notice of Appointment for my next visa.
Do you think it's possible to apply for my pension now or will it cancel my Notice of Appointment? Are these two things related in any way? Just wondering if it's possible to get my pension out during my hiatus even though I already have a Notice of Appointment for a new visa. (I'm home for too long to just transfer my visa, so I have to get a brand new one while I'm there) |
Yes, you can apply for your pension.
No, it won't affect your NOA provided your pension refund occurs before your new employer opens your pension account.
If there is a delay and the new employer starts to make contributions before the refund is done they will cancel the refund.
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cincynate
Joined: 07 Jul 2009
Location: Jeju-do, South Korea
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| Posted: Thu Jul 28, 2011 2:13 am Post subject: |
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| It takes about one month from the time you apply for your pension until the time the funds are dispersed. If you re-enter Korea before they send the money, they will cancel the disbursement. It has nothing to do with when your employer begins contributing, it only matters if you are in the country when they go to send the money. They verify with immigration that you are not on a visa before they send it. However, if you are here on a tourist visa, it won't affect it. |
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koreatimes
Joined: 07 Jun 2011
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| Posted: Thu Jul 28, 2011 2:39 am Post subject: |
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| cincynate wrote: |
| it only matters if you are in the country when they go to send the money. They verify with immigration that you are not on a visa before they send it. |
I don't know how true this is. If you re-enter, doesn't the new school have to inform the pension office you are working for them? If the new school doesn't, then the pension office wouldn't know the teacher was back in Korea. |
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