Korean Job Discussion Forums

[Wrench]

I am switching jobs on sep 1.

Do I have to file for my pension or can I just continue with it and not worry about loosing cash from the switch?

I've been at my hawon for 1.5 years. I collected my severence at the end of my first contract. Some one told me that its prorated not sure if its true or not but am I eligeble to get my .5 years worth of bonus when I quit?

I know I need an LOR do I have to get any other paper work from my old employer? Tax Papers and or proof of employment for when I actually leave this country?

Anything else?

[kiwigirl :O)]

hey
regarding the pension i have been told that its a good idea to file for the refund when you are leaving korea for good....a friend told me that you can only file one time so its would be best to file and get all the cash at once
as a nzer that won't happen for me .....

im not sure re the remainder of the questions but hope this lil bit helps

cheers
kg

[the eye]

You can file for refunds more than once. All you need is proof that you are leaving the country, and a foreign bank account for the deposit.

If you don't want to collect this year's amount, which is a good idea, it will remain on yuor file at the pension office and your new job will continue adding.

Severance is not prorated for portions of a year, unless your contract states otherwise.

[Ya-ta Boy]

In my experience, you have a permanent account with the pension office. (Just keep track of your ARC number that you had when you started your first job.) The account will continue to accumulate money as long as you are employed, and you can take it out when you leave the country.