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alwaysbeclosing100
Joined: 07 Feb 2009
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 Posted: Thu Aug 02, 2012 5:31 am Post subject: severance |
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what has prompted the change to standardize paying severance after the final contract? is it still calculated with the same method? i thought it was the average of the final three months salary multiplied by the ratio of total months to months in 1 year. we are being told the money will collect interest? i always thought schools paid the severance annually because they didnt want to pay using the final 3 months average.
Is this change now paying severance based on your annual salary into an account and not based on your final salary? |
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Troglodyte
Joined: 06 Dec 2009
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| Posted: Thu Aug 02, 2012 7:10 am Post subject: |
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| I haven't heard about any change. I can't see why the government would change it either. Severance is not just for foreigners. It's for everyone working in Korea. As you can guess, most people work more than 1 year at a given job. |
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YTMND
Joined: 16 Jan 2012
Location: You're the man now dog!!
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| Posted: Thu Aug 02, 2012 10:39 am Post subject: |
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| what has prompted the change to standardize paying severance after the final contract? |
You don't become rich by giving out money. This is more of a public school thing and not an immigration requirement. |
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