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suzhou2010
Joined: 09 Feb 2005
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 Posted: Fri Feb 22, 2013 8:09 pm Post subject: Getting a Pension Loan |
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Has anyone gotten a pension loan from KTPF? If so were you happy your did? I know we can get up to 50% of our pension on loan but I'm trying to find out some of the other details like repayment options and interest.
Any info is appreciated.
Sorry if its been posted before but when I search for pension loan I get hundred of results that have nothing to do with a pension loan. Am I using the search function wrong? |
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IamBabo
Joined: 16 Jun 2005
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| Posted: Wed Feb 27, 2013 10:40 pm Post subject: Pension Loan |
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Hi,
Well, I was curious about this too, so I sent them an email. Apparently, it is only available for Korean nationals. |
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suzhou2010
Joined: 09 Feb 2005
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| Posted: Wed Feb 27, 2013 11:11 pm Post subject: |
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Thanks for the info . . Someone at my school is looking into it for me too, if I hear anything different than I'll post but since you're email is from them . . That stinks.
Suprises me because they have the 'loan' service part of the web page in English. |
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IamBabo
Joined: 16 Jun 2005
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| Posted: Thu Feb 28, 2013 12:00 am Post subject: Pension Loan |
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| Can't hurt, please let me know if you hear different..good luck.. |
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suzhou2010
Joined: 09 Feb 2005
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| Posted: Thu Mar 07, 2013 9:37 pm Post subject: |
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Was told it IS possible to get a loan for up to 50% of your contributed money, at 4.75%. Repayment period varies depending on the amount you borrow.
To get the loan you have to register at ktpf.or.kr and apply there. Its a bit complicated at first so depending on your Korean level you might wanna grab someone to help.
This is assuming your pension is through KTPF! |
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IamBabo
Joined: 16 Jun 2005
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| Posted: Fri Mar 08, 2013 2:34 am Post subject: Pension Loan |
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Hi,
Thanks for letting me know! Good luck with it and please let me know if you are able to get it. If you want, just send a PM..
Hope you get it.. |
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artunltd
Joined: 31 Jan 2008
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| Posted: Fri Mar 08, 2013 5:45 pm Post subject: loan |
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| Yes, you can get a loan, I think it is less than 4.75% rate, you can pay it back at anytime, they will automatically deduct it from your your monthly salary. Have your secretary apply it's easy and fast, you can get in 4-5 days. There are different time periods to pay back the loan eg.1, 2,3 yrs etc. |
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IamBabo
Joined: 16 Jun 2005
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| Posted: Fri Mar 08, 2013 5:56 pm Post subject: Pension Loan |
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This is all good news, I just wonder why the person that replied to me from the actual government website told me that it was not possible for foreigners to get it?
I guess I shouldn't be that surprised... |
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big_fella1
Joined: 08 Dec 2005
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| Posted: Fri Mar 08, 2013 6:31 pm Post subject: Re: Pension Loan |
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| IamBabo wrote: |
This is all good news, I just wonder why the person that replied to me from the actual government website told me that it was not possible for foreigners to get it?
I guess I shouldn't be that surprised... |
Due to the Korean face based culture. If you don't know something just say no. |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Sat Mar 09, 2013 9:46 pm Post subject: |
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| Thank you to the people who checked up on this. I'll be looking into this as well. |
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suzhou2010
Joined: 09 Feb 2005
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| Posted: Tue Mar 12, 2013 2:21 pm Post subject: Re: loan |
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| artunltd wrote: |
| Yes, you can get a loan, I think it is less than 4.75% rate, you can pay it back at anytime, they will automatically deduct it from your your monthly salary. Have your secretary apply it's easy and fast, you can get in 4-5 days. There are different time periods to pay back the loan eg.1, 2,3 yrs etc. |
Yes the above is true, just did it today. Really took about 5 minutes over the phone. |
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Son Deureo!
Joined: 30 Apr 2003
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| Posted: Tue Mar 12, 2013 11:15 pm Post subject: Re: Pension Loan |
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| IamBabo wrote: |
This is all good news, I just wonder why the person that replied to me from the actual government website told me that it was not possible for foreigners to get it?
I guess I shouldn't be that surprised... |
If by "government web site", you're talking about the National Pension Service, the government pension service (http://english.nps.or.kr), then you're not talking about the same thing as the OP. The OP was asking about getting a loan through KTPF, which is the Korea Teachers Pension Fund (www.ktpf.or.kr), a private pension fund that's used by many private universities and colleges in Korea.
Does that clear things up? |
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IamBabo
Joined: 16 Jun 2005
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| Posted: Wed Mar 13, 2013 12:29 am Post subject: Pension Loan |
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| Ah, well yes it does! I didn't differentiate between the two. That is very helpful, thanks! |
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