Korean Job Discussion Forums

quilter · Joined: 11 Feb 2006

I have read on Dave's that if we contribute to the pension plan here that we get double back when we leave from contributions matched by our employers. However, my company does not deduct any pension payments from my pay. I have mentioned it to them, but they have sort of danced around the issue. None of the more than 25 foreign teachers at our company pay into it.
Just wondering if anyone could let me know about the rules/legalities for this. If I want to contribute, do they have to allow me to?

The manager told me it may have something to do with me being a contract worker or soemething like that, but it would seem all the English teachers here are contract workers also, and they pay into it.

Any info would be appreciated.

re:cursive · Joined: 04 Jan 2006

I made a somewhat related post a couple of days ago about the pension and found out some very helpful information.

http://www.eslcafe.com/forums/korea/viewtopic.php?t=58174

Whether you get the money back depends on the agreements your home country has with Korea. I believe Canadians and Americans get it all back. Australians get nothing. Not sure about the rest.

Kim Jong Jordan · Joined: 13 Mar 2004 Location: The Internet

you're supposed to be paying into it but your boss is being a dink because he doesn't want to pay his half for the 25 teachers at your school. I had the same situation last year, get a Korean friend to complain to the pension office and they might do something. It worked last year for me, albeit during my second last month.