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Korean Job Discussion Forums
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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 Posted: Sat Jul 23, 2011 9:56 am Post subject: |
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| CentralCali wrote: |
| It doesn't matter if you're eligible to draw the pension or get reimbursement. What matters is the legal requirement to enroll and pay into the program. |
True.
After age 60 everyone is exempt and cannot enroll and cannot make payments to the program.
There are other exempt groups as well. (technical and likely not related to any E2 teachers) |
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ChrisGyeongju
Joined: 18 Nov 2010
Location: Daegu, South Korea
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| Posted: Tue Aug 02, 2011 12:01 pm Post subject: South African pension contribution |
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| OculisOrbis wrote: |
| Yes, everyone must be enrolled pension (except South Africans - it's optional for them). |
Hey guys, I am a South African coming to Korea in a few weeks and would like to NOT pay any pension, as I understand that South Africans do not get a lump sum payout at the end of their year. Also, I plan on working in Korea for several years and want to maximize my savings while there.
I need to find out if South Africans really don't have to pay pension, and if so how do I go about organizing this?
I appreciate the help!!! |
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