Korean Job Discussion Forums

[jacksthirty]

I finish my contract at a public school at the end of this month and I just received my payslip and noticed a couple of additional deductions regarding national insurance and pension. I'm asking because I haven't seen these before and I didn't really understand my co-teachers explanation why.

I don't know if this is something that has been introduced this year or something that has always happened (and other accountants ignored it).

1. 건강보험엔말정산 Long-term care insurance for the aged ( )

2. 국민엔금소급분 Some kind of additional pension payment.

My co-teacher mentioned something about the month of May, and that because I was quitting my job before then (I'm not, I'm finishing my contract) they school had a duty to estimate what I might owe to the insurance and pension office (if that indeed is the case) when the 'year' ends in May. I know that's a terrible explanation so apologies.

The school made the necessary deductions and sent the money off. He said it was something that Koreans have to do, but I haven't seen these deductions before on my payslips and I've finished previous contracts in August and September.

They said that if I don't owe any money I will get the money back, but in May

There wasn't any additional taxes taken off though.

[newb]

[jacksthirty]

Thanks for that. I figured it was something that I've overlooked before or some kind of gradual increase.

Each amount was for 100,000. My base pay is 2.6m.

[Steffie183]

I'm going to up this because the same thing just happened to me. However, the amount was way different.

Normally I pay around 70K/mo for health, my base is 2.3 but 700K for housing. I sent in my resignation and on my "last" check the health ins went up to over 350K. I asked, naturally, and they said it was a yearly adjustment based on how often I went to the dr (one yearly physical and one case of sinusitis+tonsilitis). This was the gov't policy that they have no control over, everyone Korean and foreigners have to pay. That didn't make sense to me and makes even less sense with what happened next.

I then agreed to just one more semester for my co-teach's sake (she is amazing) so they postponed the payment! If it is a gov't policy, how can they change the date?! They said also that this only happens on your last payment, but also happens to be yearly, but renewers don't have to make this payment?! (My brain hurts)

I theorized that they had not been reporting my payment correctly or that it was because of my severence. I got my tax slip and they have been 'reporting' a total of 3mill/mo for the last year.

Does anyone have any insights? I think they are just trying to keep some money (this company is known for forcing teachers to buy their own supplies, including textbooks, while requiring a computer and projector) from the teachers who are leaving.

Calling NHIC is on my list of things to do this next week, since it is my last month. My husband, a Korean, has never had this happen to him and he worked for the same company!

[ontheway]

[Wildbore]

Or he can just check directly with the NHIC. They will give you a print-out of amounts owed/due for health insurance and pension.

[Scorpion]

I wouldn't worry about it. As countless Koreans have told me, "Koreans are the honestly people."

[oppa637]

These payments are legit. Eveyone in korea has to pay them and they are adjustments made based off the previous year.

[Steffie183]