Korean Job Discussion Forums

[demonrocks]

So I've recently started working in Korea and my hagwon boss has given me the option to either pay into the national health and pension scheme, or take private health insurance and skip the pension payments.

I'm a UK citizen, so I'm not going to be able to claim the pension back when I leave anyway.

My question relates to this: If I choose the private health care option (as my boss would obviously prefer), I'm pretty sure this will mean my employment status becoming an independent contractor. --- As I understand, this means I will then be 100% responsible for making the 'legally required' pension contributions during my stay in Korea.

Now, if I change schools once my current contract finishes, and the next school I go to starts paying into the national pension and health system. Will I be flagged for the shortfall from the previous year?

Has anyone heard of any people who have been asked to retrospectively pay their pension contributions?

[Whistleblower]

If you don't contribute to the Korean Pension, you'll be liable to contribute to the UK NI during that period otherwise you'll receive lower pension entitlements when you reach pensionable age. If I were you I'd pay into the national pension and receive pensions from Korea as well as the UK. You do get it back in the end and will receive two pensions: one from the UK and one from Korea.

[demonrocks]

I thought there was no way to link the pension contributions in Korea to the ones back in the UK.

From what I've read, the only I will ever see that money is if I contribute 10~ years worth of Korean pension and then retire IN Korea.

[Allthechildrenareinsane]