Korean Job Discussion Forums

[theSeeker]

Hi there,

Do hagwons have to enroll you in the pension plan. Is it the law? Are they some kinds of restrictions? I wonder. What if they say they dont do that? Then what?

Seems like most contracts dont even mention a pension plan.

Does anyone have experience with this?

Have you always had a pension plan with the hagwons you have worked with?

Please send advise.

Thanks.

[turtlepi1]

I don't know for sure...Gord or Grotto will weigh in with opposing answers but I think a school with over 5 employees needs to participate in the pension plan.

[quiksilver]

I've recently had this discussion with my co-teacher. She is actually my go-between person for the director since the director is a) only here for about 25 minutes each week and b) doesn't speak english very well. I asked about the pension plan and she danced around it so much that I jsut dropped it. I'm getting paid on time and in full so I'm not worrying about it. I know they're probably doing something illegal since there are about 10 or 12 employees here but whatever. I get paid on time, that's what's important right now. If it comes up sometime I'll deal with it then, for now I'm just trying to get through another week of sniffling / coughing kids .

[theSeeker]

how much does the pension end up being anyway? what will i miss if i dont get the pension plan? and i'll get 4.5% more per month right?

[sadsac]

The pension plan also depends on which country you are from. US and Canadian governments have reciprocal arrangements regarding pensions, so those citizens pay into the pension plan here. Australians do not because the agreement between Canberra and Seoul fell apart. Some do need to pay into the plan, some do not.

[theSeeker]

im from the USA.

I signed a contract. I start work next week. The contract says nothing about pension plan participation.

[Grotto]

Hark I heard my name mentioned.

[Homer]

Grotto beat me to the punch here.

What he said is correct.

[peppermint]

Based on what Grotto posted, and what I dimly remember hearing, I think people whose countries don't have arrangements with Korea can opt out of the pension scheme if they want.

[theSeeker]

ok. well... i already signed the contract that says nothing about a pension plan. i have a feeling they may give me hard time about it. i mean, they are a pretty good school, with little experience with foreign teachers. everybody there is very helpful and stuff... what should i do? should i just go into the directors office sometime during my first week at work and ask how and what i need to do to sign up for the pension plan? dont ask if they do it, just tell them i need to sign up.

perhaps i should have with me some written proof that this pension thing is the law. then if they start giving excuses, i can just say "here is the written law" in that case, where could i get that info.

they are giving me alot, including a nice new single apartment, good salary, etc... and i dont want to alienate myself first thing during the first week, so i am wondering how i should handle this.

is there some kind of bureau here in seoul that deals with foreign teacher questions and complaints etc.?

any advise?

[nrvs]

My school doesn't "do" the pension either.

I don't care about the pension itself so much, or even the 4.5% matching amount (+ my 4.5% = 9% total) they're "stealing" from me.

I'm irritated that I can't sign up for Korea's National Health Insurance plan through my school. Sure, they offer health insurance, but it's privatized and seems to be of the "you pay for medical services now, and we'll reimburse you later" kind of deal.

It sounds sketchy. All of my questions about "what happens if I get hit by a 'genius' moto driver on the sidewalk and I'm knocked unconscious" go unanswered. Who pays then? Do you think they're going to pay out millions of won for a potential hospital stay, surgery, and so on? Or will they just fire me?

I'm from America -- and I was never insured there since I finished college. I thought this was my big chance to experience a civilized health care system. To have the convenience of presenting a national insurance card at a doctor's office and then receiving treatment. Sadly, that's not the case.

I haven't signed up for their private plan yet. I'm considering just walking into the National Health Insurance Corporation with my ARC and...well, signing up. With my kyopo girlfriend, who speaks decent Korean. She has to enroll on her own as a Korean citizen sometime soon anyway.

Will I get my school in trouble with the pension people? Aside from this nonsense, I like my job quite a bit. I'd hate to get canned for "making waves."

[theSeeker]

so if you just go into the national health insurance office, and sign up, there is nothing the school can do. do they still have to pay some of it? then it automatically registers you for the pension plan? i guess if the school doesnt do pension, then they may get irritated with you for going ahead and signing up anyway.

in any case, you mentioned that you didnt care for the pension anyway. but that can potentially be 1,000,000 WON in matching funds by the end of a 1 year contract. why does that not matter to you? im wondering if id rather just have the extra cash now anyway also.

do you think the national pension is why they dont offer you the national health plan to begin with? i wonder.

[theSeeker]

another question:

do most of you out there NOT get enrolled on the pension plan? Do most hagwons frown upon the idea of pension. do most hagwons not "do" pension? by not getting it, am i just getting the regular deal here in Korea?

[Sage Monkey]

[theSeeker]

thanks for you reply monkey, but...

isnt the point of the pension that i pay into it, AND the school pays into it equally? then when i leave the country, i can cash it out. With the schools matching fund, i can actually double my money right?

does this make sense?