Korean Job Discussion Forums

Rock · Joined: 25 Feb 2005

Do you pay into the pension fund and is this so serious as to be enforced by garnishing your wages or having to dish up backpay?

My boss isn't holding to the pension fund, and I just wonder if I should make this a priority, or mandatory.

Badmojo

Rock · Joined: 25 Feb 2005

Yes, there are less than five full-time employees, or exactly that number. I believe we have four girls and one guy who acts as an assistant.

But wait a minute. Then there's me, of course, so I guess there are five-six of us, unless you consider some of the girls as part-time. My boss seems like an honest guy, so I think he'd hold to this if it were a legal mandate.

Derrek · Joined: 15 Jan 2003

Then I believe he is exempt.

Are you paying into it? If he isn't, then don't bother. No one will go after you for it.

pegpig · Joined: 10 May 2005

Perhaps because I missed a kimchi dose I'm seeing double, but are there 2 almost identical pension threads by the same guy? Gotta maintain your kimchi intake.

If you signed a contract that says you both contribute to pension, then he should pay his share and deduct yours. If not, and you're at or below that magical 5 (or whatever), then I'd say it's optional for him (meaning NO). If you're above, well I guess you have to decide if you want a fight or not. I worked for a big 18. They had lots of teachers and he was also a big arse. There was no mention of pension and he wasn't about to pay anywho, so why bother? He would have deducted the pension and pocketed it anyways.

It's nice to get that extra million or so at the end of the contract, but is it worth the fight?

Grotto · Joined: 21 Mar 2004

Foreigners working at the workplace with more than 5 full-time employees were included in the mandatory coverage in August 1995 and those working at the workplace with less than 5 employees including self-employed foreigners were also included in the mandatory coverage in April 1999. Accordingly, foreigners aged from 18 to less than 60 who reside in Korea must be, in principle, covered under the Scheme. But foreigners falling under any of the following items are excluded from the coverage.

So it doesnt matter how many employees they have you are supposed to be covered!

Derrek · Joined: 15 Jan 2003

It also matters where you are from. People from some countries can't get pension back at all, so there is no point in throwing your money away. I believe Australians are this way, for example. Americans do get theirs plus the boss's contributions, and I believe Candians do as well.

prosodic · Joined: 21 Jun 2004 Location: ��

Rock · Joined: 25 Feb 2005

Still seems confusing to me. Is it law or is it not? Many here said "coverage" but is there enforcement of this law for foreigners? I'm not going to fight about it now. Maybe next time I'll push for it, but why bother to rock the boat.

prosodic · Joined: 21 Jun 2004 Location: ��

redd · Joined: 08 Nov 2004

My school is small too, but pension was listed in the contract. Because I'm the only one from a country that can claim it back, my director wasn't too keen on signing us all up.

I consulted the lovely folks here and eventually asked him privately if we could come to an arrangement. He pays me half of his amount and doesn't take any off my pay, so we're both happy with this.

Thanks Grotto, I believe it was your suggestion.