Korean Job Discussion Forums

[SuperHero]

[prosodic]

Superhero is right.

[Len8]

I was told that a law was passed recently to make the private pension more lucrative. I am wondering if that new law stipulated that payment of a severance payement was no longer necessary.(A new clause) All private pension funds prior to that date were payed with severance .

[canukteacher]

If you work for a private university with a private pension plan they cannot pay you severance. The reason being.........the private pension plans pay out more than the national plan.

Also, if you have paid into the National Pension Plan and then end up working for a uni with a private pension plan you can get your national pension plan refund (if you qualify). I moved from the National Pension Plan to a private plan, and had my NPP contributions refund within a month of appylying.

CT

[Len8]

I went down to the labour office to-day and they all to a T said severance and pension are different and totaly unrelated. Everyone provided there are at least 5 employees at the work place gets severance by LAW. They didn't mince any bones about it and said it doesn't matter wether you are on a private pension at a private university or at some other place you are still entitled to severance.

I was and still am at a private university. They wanted to know the details of my complaint without documentation and would file it and send it to the university within ten days, and the whole shebang would be required to come to the office and get the matter resolved.

I am complaining about a grievance at my place of employment, but now that I know we can't get screwed out of severance at a private university, they advised me to first go and tell my former and now present employer that they had no right to diddle me out of some of my severance when I resigned.

They didn't give me full severance when I resigned. In fact I got the reduced payement in my bankbook when I was leaving the country. Can you believe that. I am back at the same place now so I guess I will do what I have to do.

[schwa]

[poof]

Lots of confusion counter claims!!!

Don't forget to not confuse a private university and a private pension scheme.

What I know and am quite sure of: If you are working in tertiary sector education WHICH is a private institution AND opts for a private pension scheme, they are not obliged to pay you severance. Some such places will also cite this in their contract - check what your contract says.

Asking immi about such affairs is useless - they often don't know the answers to such questions.

[Len8]

Thats Bull. All universities wether private or public have to paye severance irregardless of wether they are on a private pension or not.

According to the labour office that's the LAW. They laughed at my information about a university with a private pension scheme not having to pay severance. They thought it was a joke. I spoke to all three of the guys in the office.

We signed our contracts at our university, and there was a stipulation in there about pension. We opted to change it. They worded severance as a retirement, so we have asked them to change it to severance. They have also mentioned pension, and we have asked that the wording (which is refundable) be added. We might ask that they add that severance and pension are seperate payments.

Incidently our university is on a private pension and it's a private university.

It seems as though they can't come right out and say pension will be severance otherwise they would.

Ok we havent heard back yet about our contracts, but that's what we are bucking for.

[desultude]

I hear conflicting stories about pro-rated severance. If you leave before a second, third or fourth full year, do you get pro-rated severance?

[poet13]

regarding pro-rated severance.
question. i read somewhere that if you received your severance at the end of the first year, then the employer wasnt required to pay a prorated severence for a partial year. (i extended six months) further, i read that if a person didnt receive the severance at the enc of the first contract, then the partial year would be pro-rated. anyone have any thoughts, knowledge or opinion on this?

[Lemonade]

Oh my head hurts now from reading this thread and I don't know what to believe. All I know is that there are a lot of universities out there right now denying severance to foreign professors even when it's stipulated in their contracts. I can think of at least five professors going through this right now. They went to the labor board and the hearings. The universities were ordered to pay severance or pay huge fines. Now the professors are waiting to see what happens.... and so am I. Oh, they are all on private pension plans so it seems to reason that pensions and severance are completely unrelated.

[canukteacher]

I found this on the Q& A Board on the MOL website.










































HomeParticipation/Q&AQ&A





Severance Allowance

Joyce 2005-12-05

I would like to know if staff resigned by own record, does staff entitled to get severance allowance? If so, which ordiance is binding on this? Thanks!





[email protected] 02-2110-7020

Those who are ordinarily employing five workers or more, if their workers retire after more than one year of consecutive service, must give them severance pay within 14 days of retirement, regardless of whether the retirement is voluntary or not.
The payment of severance pay is stipulated in Articles 8 and 9 of the Employee Retirement Benefit Security Act.



There are several other posting from uni teachers in private plans, but those questions have not been answered.

CT

























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