Korean Job Discussion Forums

[xCustomx]

I made a post last week about my pension situation, and how I have been teaching for 10 months now, but never signed up for the pension. I told her tonight I wanted to sign up, and she said not to do it. She called some place (not sure exactly since the conversation was in korean) and later explained to me that the interest rate is 2% or something, and that i must contribute for 18 months before i will get anything back to me.
I think the reason most teachers sign up for the pension is so they can get the extra $1200 a year. Why else would you do it? When I told her i wanted to sign up, she said 'why would u want to do this?' She tried to give me a bunch of reasons not to sign up, anything I guess so she can avoid paying into it. So my question is, is it possible to register for the pension on my own or do I need her approval? I work in a small school, so this will cause some problems I think, but I don't think im being unreasonable at all, I'm just asking for something that is written in my contract. Sure, i didn't sign up for 10 months, but that shouldn't matter. What can I do about this situation?

[denverdeath]

You do not have to contribute for 18 months before getting a reimbursement...you can apply for it at the end of your contract. However, given your situation, you may have to pay a penalty as well as the back months(on your contributions anyway), but I'm not 100% positive about that. I'd recommend going into your local office and asking some questions.

http://www.nps4u.or.kr/eng/enpsk.html?code=./enpsk/a02.html

[jacl]

There is no option. You must pay into it according to law. Even the number of employees thing is not in effect anymore.

[Homer]

Well...if you want your pension...you have to have paid into it!

Thats pretty simple really.

Your boss or you should have signed up because pension contribution is mandatory.

Now, if you want to sign up and get your money, you will have to pay into the fund, retroactively: this means all 10 months you have not paid in. This is the same for your boss who might also incur a fine.

[jacl]

It's worth it to pay into it. The back payments will be in the million dollar range for you, but you get that back.

[Homer]

[denverdeath]

Yes, you will have to pay about 900,000(depends on your salary) and your boss will have to match that amt. It also looks like you both will be subjected to a penalty of 5-15%(don't know what exactly). That would be a max of 135,000 for you. It's probably still worth it for you to get the ball rolling now as it'll be an extra 1,200,000(your contributions factored out) deposited in your bank in Can/the US after you apply for it and exit the country. Just remember to do things nicely...maybe use the pitifully sad-type face.

[jacl]

[xCustomx]

my boss though didn't seem too happy when i even pulled out the form that the local office here sent me to sign up for the pension. i have a feeling she is going to do as much as she can to try and prevent me from signing up. is it possible to do this on my own...if i give her the paperwork, something tells me she will make it 'disappear' and she wont sign me up.

to the people saying that i must contribute, what happens if i don't do it? she never discussed anything with me regarding medical coverage or pension. as of right now, i only pay the 3.3% tax. i don't mind not having medical, as i never have a need really to go to the hospital or meds of any kind. i know medical insurance is exactly that, insurance in case anything really bad does happen, but anyways, i don't want to sign up for it. i hate work relationships going bad because im just asking for something which is legally due to me. i re-read my contract, and it does not mention anything about the pension. does that mean the owner might have a loophole as far as not paying anything? or is the pension contribution required by law, regardless of whether or not it states specifically in the contract that the employer will make 1/2 of the contribution?

[tzechuk]

Like jacl said.. there is no option about payment into the pension fund and your boss is lying about calling some place to enquire.

The law changed last year such that EVERY company, big or small, has to contribute towards the pension fund. It's steep, so some firms dodge it and sounds like your boss is doing the same.

If I were you, I'd negotiate with your boss and tell her if she doesn't do something about it, you will. Then carry out your threat.

[denverdeath]

[xCustomx]

I guess I should show her this?

[denverdeath]

Good luck. It's too bad that you're doing this in month ten. I'm worried about her all of a sudden coming up with some reason to fire you. Then, if you want to fight everything, you have to try and get visa extensions and lots of other headache-inducing things. The only other thing I can suggest is maybe offer to pay her part of the fine as well as yours to sweeten the deal a bit for her. Again, good luck.

[xCustomx]

the other crappy part about this is that she wants me to renew my visa for 4 months until the middle of august. i am supposed to give my passport and ARC card tomorrow so her father can take it to the immigration and process the visa extension for 4 months. however, if she gives me crap about this pension, its going to be a looooong 4 months.

i would really like to get a public school job, but the timing of my current contract makes it really tough. im planning to go back to the states and then come back here in mid-april. if i didn't re-sign (not resign, as in quit), what could i do for 4 months, until the public schoosl and universities start hiring for september 1st? i thought about getting a student visa and studying korean, or working in thailand? any suggestions? i'm just trying to figure out my options.

[BigBlackEquus]

What about applying for public jobs now??

Many of them are hiring for March 1. I have seen them on worknplay.co.kr and Dave's site.