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jsis
Joined: 05 Nov 2009
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 Posted: Thu Oct 10, 2013 12:44 am Post subject: Going back in the middle of getting my pension refund proces |
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I taught in Korea for a total of 3 and a half years, switching schools in between. Then I decided I was done with teaching, requested my lump sum refund, and came home. It's been 2 months since I left Korea, and about a month and a half since my last contract finished. (I used my vacation days to leave early). NPS told me I would have the funds deposited into my Korean bank account by mid-September.
I didn't bother to check if the money came in. Wrongly assuming that I had been refunded, I booked a one-way flight back to Korea, which leaves 2 weeks from now. It was for a really good price that I couldn't pass up. Once I had it booked, it occurred to me that I should make sure I had the refund, and what do you know. It's not there.
I called NPS and they told me they still had things to confirm with my first school, and that they sent in a request to immigration to check on that 2 weeks ago. They hadn't gotten anything back yet.
They don't know when they will have this information, but they can't pay me until they do.
Now I'm not sure whether I should cancel my flight now (I still have a few hours to cancel without getting charged fees) and wait to make sure I have the refund before I book another ticket, in which case I will definitely have to pay more,
Or just wait some more before cancelling the flight since I still have 2 weeks until my departure and I might get it in time?
Another option would be just to go to Korea even if I don't have the refund in 2 weeks, and collect it the next time I leave the country?
I'm guessing it just gets accumulated.
Does it matter if I have a history of having applied to get it back, then re-entering the country while it's getting processed? There's no way it could get forfeited right?
It would be ideal to have the money ASAP, and not have to wait another year or two for it. But it also sucks to lose out on money (flight price difference, cancellation fees etc).
Has anyone had an issue like this? I just don't know how fast immigration works for things like that, if another 2 weeks would be enough time for them.
Any thoughts? |
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beentheredonethat777
Joined: 27 Jul 2013
Location: AsiaHaven
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| Posted: Thu Oct 10, 2013 5:28 am Post subject: Re: Going back in the middle of getting my pension refund pr |
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I'm guessing it just gets accumulated |
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^^CORRECT!
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| Does it matter if I have a history of having applied to get it back, then re-entering the country while it's getting processed? |
No, it doesn't matter. You can file, leave, collect, come back and do it again!
They won't know you've returned, unless you call them and say, "Oh wait, keep my money, I'm back!"
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There's no way it could get forfeited right? |
No, its your money.
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| It would be ideal to have the money ASAP, and not have to wait another year or two for it. But it also sucks to lose out on money (flight price difference, cancellation fees etc |
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Don't cancel your ticket. Wait out the entire two weeks.
If you have other money, go ahead and come over. Eventually, you will get the money into your Korean account.
Next time, just collect it at the airport on the way out. No stress, no worries. No wondering if its going to get deposited into your account, etc. You'll have all your cash in your hand.
Has anyone had an issue like this? I just don't know how fast immigration works for things like that, if another 2 weeks would be enough time for them.
It depends upon the problem. Are sure that ALL of your schools actually paid into the pension fund? Were you working for public or private schools?
Did they (the pension office) tell you an exact amount that you were going to receive?
Did you follow up, while you were at these schools to make sure contributions were being paid? If you worked for hogwans, there is a reason to be concerned. If you worked for public school, it's all good.
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I think you'll get the money soon. I' ve been hearing two or three months from other teachers who did it "this" way. Once again, next year, just finish your contract, collect at airport and return next day! It works out well.
Can you provide any more information? Maybe I can help you speed things along. |
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jsis
Joined: 05 Nov 2009
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| Posted: Thu Oct 10, 2013 10:50 am Post subject: |
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Thank you so much for your help! I worked at public schools, and yes, the pension office did confirm the exact amount I would be getting.
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They won't know you've returned, unless you call them and say, "Oh wait, keep my money, I'm back!"
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Really?
If I don't get a job in Korea and not let NPS know that I've returned, would I get the refund while I'm still in Korea? I'm thinking about just attending hagwons for a bit. Immigration would know that I was back. Does that not make a difference? |
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beentheredonethat777
Joined: 27 Jul 2013
Location: AsiaHaven
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| Posted: Thu Oct 10, 2013 5:31 pm Post subject: |
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Thank you so much for your help! I worked at public schools, and yes, the pension office did confirm the exact amount I would be getting.
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They won't know you've returned, unless you call them and say, "Oh wait, keep my money, I'm back!"
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]Really?
If I don't get a job in Korea and not let NPS know that I've returned, would I get the refund while I'm still in Korea?
I'm thinking about just attending hagwons for a bit.
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| Especially if working at a hogwan that doesn't contribute into the pension. |
Immigration would know that I was back. Does that not make a difference?
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No. These two departments do not share information simultaneously.
Example. My friend worked at three schools. Immigration knew he was here and had worked at the schools, but the pension office had never heard of him. The school didn't contribute into pension, so the pension office said he had never worked in Korea, period.
Besides, I collected my pension a couple of months back, came back, stated working, and got an extra pension payment deposited into my account a couple of weeks ago. (last payment from school)
I was surprised but happy, nonetheless.
IMHO,They are too busy to try to reverse a pension payment once the process has started. |
^^.This! |
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jsis
Joined: 05 Nov 2009
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| Posted: Thu Oct 10, 2013 6:13 pm Post subject: |
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| Amazing. Thank you so much! |
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