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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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 Posted: Sun Nov 05, 2006 7:15 pm Post subject: Has anybody actually ever retired here? |
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Ok, I'm trolling, but just cause I'm curious.
Is it possible to to receive retirement in Korea?
I have heard that when Koreans retire here, they can choose either a monthly payment or a lump sum.
How long does a person have to work here to be eligible for retirement?
As a Canadian, I can receive a lump sum when I leave, but what about career teachers from countries where the money is simply absorbed into the system? Can they "retire" here and get some of that back? |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Mon Nov 06, 2006 3:50 am Post subject: |
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Damn, 118 views and no replies....
i'd even welcome a flame at this point.... |
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huffdaddy
Joined: 25 Nov 2005
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| Posted: Mon Nov 06, 2006 4:24 am Post subject: |
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| poet13 wrote: |
Damn, 118 views and no replies....
i'd even welcome a flame at this point.... |
Retire? Here? Why the hell would you want to do that? Take your money and go somewhere nicer and cheaper. Like Thailand, Mexico, or Argentina.
Happy?  |
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SuperFly
Joined: 09 Jul 2003
Location: In the doghouse
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| Posted: Mon Nov 06, 2006 4:29 am Post subject: |
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I'd love to retire in Brisbane, the Gold coast, or anywhere in between the two.
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Mon Nov 06, 2006 5:00 am Post subject: |
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| Well, actually I was thinking that with online banking, I could be registered here, have my retirement deposited here, and withdraw from my home in the philipines..... So, no, I wouldnt want to spend my retirement here.....even though I LOVE kimchi. (yes, i really do) |
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twg
Joined: 02 Nov 2006
Location: Getting some fresh air...
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| Posted: Mon Nov 06, 2006 5:48 am Post subject: |
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| SuperFly wrote: |
| I'd love to retire in Brisbane, the Gold coast, or anywhere in between the two. |
I wouldn't mind going there to teach English in my old age either... |
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huffdaddy
Joined: 25 Nov 2005
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Sleepy in Seoul
Joined: 15 May 2004
Location: Going in ever decreasing circles until I eventually disappear up my own fundament - in NZ
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| Posted: Mon Nov 06, 2006 6:22 am Post subject: |
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| twg wrote: |
| SuperFly wrote: |
| I'd love to retire in Brisbane, the Gold coast, or anywhere in between the two. |
I wouldn't mind going there to teach English in my old age either... |
I'm sure your assistance wouldn't go amiss there - they need all the help they can get! |
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Neil
Joined: 02 Jan 2004
Location: Tokyo
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| Posted: Mon Nov 06, 2006 7:09 am Post subject: |
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| Dunno about teachers but in a previous life as a barfly at Seoul Pub and the 3 Alleys I did come across a large amount of military who had retired here.....they were well off as they got a good pension but didn't seem to fancy going home, which was strange as they whined about Korea a lot and weren't married to Koreans (although a lot wer married to Fillipeanos and Vietnamese) still each to their own. |
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Mashimaro
Joined: 31 Jan 2003
Location: location, location
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| Posted: Mon Nov 06, 2006 3:11 pm Post subject: |
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| Neil wrote: |
| didn't seem to fancy going home, which was strange as they whined about Korea a lot |
Sounds like a lot of English Teachers |
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Dan The Chainsawman
Joined: 05 May 2005
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| Posted: Mon Nov 06, 2006 8:24 pm Post subject: |
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| The question might be does the Korean pension scheme allow you to draw your pension outside of Korea? My grandparents who lived on a Canadian pension down in Mexico and in the USA had their pension funds made avaliable to them. Do the Koreans have the same benifit and do they have some sort of health scheme that allows for health benifits to be extended to those living abroad? |
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ChuckECheese
Joined: 20 Jul 2006
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| Posted: Mon Nov 06, 2006 8:43 pm Post subject: |
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| Dan The Chainsawman wrote: |
| The question might be does the Korean pension scheme allow you to draw your pension outside of Korea? My grandparents who lived on a Canadian pension down in Mexico and in the USA had their pension funds made avaliable to them. Do the Koreans have the same benifit and do they have some sort of health scheme that allows for health benifits to be extended to those living abroad? |
Once, a Korean public school teacher nearing his retirement was telling me about his plan of retirement. He told me that when he retires in some third world country, he'll be able to get his pension there.
So I assume that you are able to draw from K-retirement from anywhere, if you lived, worked, and contributed into the K-pension long enough.
After hearing this from K-teacher, I changed my mind about withdrawing from my pension fund and decided to let it grow. When I retire, I'll be drawing two retirement from the U.S. and Korea. Sounds good to me.  |
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