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greyhound
Joined: 10 Jun 2016
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 Posted: Thu Jul 07, 2016 1:01 pm Post subject: Do brits get pension in Korea? |
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| I think I read somerwhere brits can't get pension in Korea. what's the situation for brits then? |
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victorflood
Joined: 19 Nov 2015
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| Posted: Thu Jul 07, 2016 3:51 pm Post subject: |
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British citizens are not entitled to the lump-sum payment enjoyed by people from countries like America and Canada that have reciprocal agreements in place with the Korean government. You are entitled to claim a Korean pension once you reach the age of retirement and have already contributed 10 years worth of pension payments.
It is one of the 'costs' of living here, I suppose. I'm Irish so I also cannot claim the lump sum, which after 10+ years of paying into, is quite a nice amount at this point. |
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trueblue
Joined: 15 Jun 2014
Location: In between the lines
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| Posted: Thu Jul 07, 2016 4:09 pm Post subject: |
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| victorflood wrote: |
British citizens are not entitled to the lump-sum payment enjoyed by people from countries like America and Canada that have reciprocal agreements in place with the Korean government. You are entitled to claim a Korean pension once you reach the age of retirement and have already contributed 10 years worth of pension payments.
It is one of the 'costs' of living here, I suppose. I'm Irish so I also cannot claim the lump sum, which after 10+ years of paying into, is quite a nice amount at this point. |
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greyhound
Joined: 10 Jun 2016
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| Posted: Thu Jul 07, 2016 4:18 pm Post subject: |
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What do you get then? A monthly payment?  |
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victorflood
Joined: 19 Nov 2015
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| Posted: Thu Jul 07, 2016 5:08 pm Post subject: |
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| I suppose so? I'll let you know in 25 years. |
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young_clinton
Joined: 09 Sep 2009
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| Posted: Thu Jul 07, 2016 5:23 pm Post subject: |
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Too easy to get the dole in Britain, The Korean government is most likely very cognizant of that.  |
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tophatcat
Joined: 09 Aug 2006
Location: under the hat
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| Posted: Thu Jul 07, 2016 5:29 pm Post subject: |
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| greyhound wrote: |
| What do you get then? A monthly payment? |
A nut n honey. |
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