You can also apply for your pension if you choose to not cash it out and use it as retirement income or you can also cash it out in one lump sum as a refund. You can do this from Canada and submit it to a Canadian government office as they have a treaty between the two countries.
If you live in Canada and want to apply for Canadian benefits, see Pensions in Canada.
If you live in Canada and want to apply for Korean benefits:
•Korea/Canada Agreement - Application for Korean Old Age benefit (CAN-KOR 1 OA)
•Korea/Canada Agreement - Application for Korean Disability benefit (CAN-KOR 1 DSB)
•Korea/Canada Agreement - Application for Korean Lump Sum payment (CAN-KOR 1 LS)
•Korea/Canada Agreement - Application for Korean Survivor benefit (CAN-KOR 1 SVR)
Attach any necessary supporting documents, and return the application form to a Service Canada Centre, or mail it to:
International Operations
Service Canada
Ottawa ON K1A 0L4
CANADA""
How do I go about getting my pension refund from the US, after leaving Korea, if I didn't apply for it in Korea? I just looked through all 24 pages of this thread, and there is no up to date information on this. Thanks!
I just successfully applied for my lump sum refund from the US.
Can you apply from the US if you've broken your most recent contract (...and the contract term hasn't expired yet)?
While the NPS English site is decently detailed, sadly, the TP English site is not; however, I have called the TP main office in Seoul directly and spoken with someone by phone who had excellent English language communication skills, so consider that as an optional method for getting answers to your questions or assistance with processing your application.
Teachers' pension is only for licensed Korean public school teachers. Foreign teachers & school contract workers are enrolled with NPS. Universities can provide their own pension scheme instead.
Posted: Mon Aug 24, 2015 8:03 pm Post subject: RE: In-country pension claim years later?
AHawk843 wrote:
Hi all. I taught in Korea (Anyang, Seoul) for one year beginning August 2010. I returned home on vacation after my contract was completed, not claiming my lump-sum pension refund upon departute because I intended on returning. Ultimately, problems on the homefront prevented that from happening and claiming the money slipped from my mind as time went by.
I will be returning to Korea for a short visit in a few weeks and was wondering if it would still be possible to make a claim? If so, do you think the best place to try would be at Incheon, or a district office? I still have my old ARC, not sure what documentation I might need beyond that.
Any advice would be greatly appreciated. I've scoured the Internet/these forums for information on my situation but can't seem to find a thing, so I'm sorry in advance if this is a repeat question.
Can you apply from the US if you've broken your most recent contract (...and the contract term hasn't expired yet)?
The pension agencies operate as independent entities, so applications for refunds will not be hijacked or kidnapped for ransom by any outsiders. The agency will confirm your status with the registered employer as part of processing, just to ensure that no further payments will be received, and forward the balance of funds due to your account within a prescribed period of time.
AHawk843 wrote:
I will be returning to Korea for a short visit in a few weeks and was wondering if it would still be possible to make a claim? If so, do you think the best place to try would be at Incheon, or a district office?
Yes. Either, as all NPS offices perform the same services. Note for non-NPS applicants: visit the head TP office at Yeoido to save time, as all regional offices must forward applications there for final approval.
Teachers' pension is only for licensed Korean public school teachers.
Not correct. For example, Korea University is one higher education institution which used to subscribe to NPS for all employees, international staff included, but switched to TP, and thereafter continuing staff either cashed out of NPS, or rolled over the balance into TP.
Posted: Mon Aug 24, 2015 10:29 pm Post subject: RE: In-country pension claim years later?
isitts wrote:
I don't know if that's a good idea, Fallacy. I posted a question there and nobody ever saw it...no one who had any useful information, anyway.
That is the sticky dilemma. Honestly, I think anyone could handle these issues. I have personally visited offices of both the NPS and TP, virtually visited their respective websites, and within the last year rang up one of their staff members for an informative and helpful chat on the phone, all in English even, and experienced no troubles at all throughout. Based on that, it would seem anyone could do just as well in helping themselves get to the bottom of any situation firsthand, but certainly I will be happy to share whatever knowledge and experiences I have for secondhand reference on Dave's.
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
