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isitts
Joined: 25 Dec 2008
Location: Korea
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 Posted: Sun Nov 30, 2014 9:31 pm Post subject: |
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| Tomtomclub wrote: |
| In the end they just laughed me. |
Maybe they're just laughing at the idea of you taking your pension in a lump sum after 24 years instead of in the increments they're giving you. |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Sun Nov 30, 2014 9:47 pm Post subject: |
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| trueblue wrote: |
| Some of you are supportive and empathetic to the OP's situation...a very significant and alarming situation, reflecting another reason NOT to trust Korea or Koreans. |
To be empathetic, we’d have to have gone through the same thing. As for sympathy, we don’t even know if there really is a situation or just a misunderstanding as to how he’s getting his money. And the guy is just moping about it (and apparently, getting drunk over it) instead of keeping his head about him and giving us straight answers. That sometimes calls for tough love.
Everyone crowding around just saying, “poor baby” isn’t very helpful.
| trueblue wrote: |
| Others here, are just plain assholes. |
You would know. |
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northway
Joined: 05 Jul 2010
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| Posted: Sun Nov 30, 2014 9:55 pm Post subject: |
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| isitts wrote: |
| To be empathetic, we’d have to have gone through the same thing. As for sympathy, we don’t even know if there really is a situation or just a misunderstanding as to how he’s getting his money. |
I'm really inclined to think it's the latter. My incredulity at 24 years without a legit job was real - I have a hard time seeing anyone fail to work anywhere that would pay into pension, even by accident, over that long a period of time. |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Sun Nov 30, 2014 9:59 pm Post subject: |
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| IS-F wrote: |
| The 10 years is when you officially qualify for monthly pension payments at the retirement age. To get the refund, you just need to report it from 5 years of your date of departure from Korea. |
Well, that’s the thing, too. OP mentions nothing about plans to leave Korea. So he’s probably being given monthly payments, and they’re laughing at him wanting to have it all at once. Probably much ado about nothing. |
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Lucas
Joined: 11 Sep 2012
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| Posted: Sun Nov 30, 2014 10:40 pm Post subject: |
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| Quote: |
trueblue wrote:
Others here, are just plain assholes.
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You would know. |
Trueblue is more of a round peg in a square hole. |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Sun Nov 30, 2014 11:38 pm Post subject: |
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| northway wrote: |
| isitts wrote: |
| To be empathetic, we’d have to have gone through the same thing. As for sympathy, we don’t even know if there really is a situation or just a misunderstanding as to how he’s getting his money. |
I'm really inclined to think it's the latter. My incredulity at 24 years without a legit job was real - I have a hard time seeing anyone fail to work anywhere that would pay into pension, even by accident, over that long a period of time. |
Yeah. Well, hopefully tomtom checks his thread again. If not, he'll probably figure it out when his next payment arrives...or does he have to go back to the pension office each month? |
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trueblue
Joined: 15 Jun 2014
Location: In between the lines
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| Posted: Mon Dec 01, 2014 3:10 am Post subject: |
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| Quote: |
Quote:
trueblue wrote:
Others here, are just plain assholes.
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You would know.
Trueblue is more of a round peg in a square hole.
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Just, TRULLY devestating, Lucas. |
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EZE
Joined: 05 May 2012
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| Posted: Mon Dec 01, 2014 4:36 am Post subject: |
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Hey Tommy,
I have some bad news and I have some good news. It sounds like you haven't had much good news in a while, so I'll give the good news first. Today, I called the NPS to find out more about the backpayments, when it's all due, accepted payment methods, etc. They told me that I don't don't have to pay it, that Nicky's Hagwon a.k.a. Wonderland in Anyang has to pay 100% of the 1,512,000 in backpayments. So I don't think they're going to charge you with 50,000,000 in backpayments.
Now for the bad news. I reminded them that Nicky's Hagwon, a.k.a. Wonderland in Anyang had been told in October 2013 that they had one month to pay the amount and never did. I asked them what, if anything, was being done. As usual, they told me NHIC handles the enforcement of pension payments and told me to call them. So I called NHIC and here's the bad news I've been telling you I have: they told me that it's totally voluntary for schools to pay into pension. They told me that I should go to the nearest branch office and see if the manager of the NHIC branch office could lean on Nicky's Hagwon to pay it. I told her, "But if it's voluntary, it's not like they're going to pay." She agreed and added that a lot of foreigners call in with the same problem, but it is completely voluntary for employers of foreign workers to pay into the pension of the employees. |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Mon Dec 01, 2014 6:20 am Post subject: |
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| EZE wrote: |
Hey Tommy,
I have some bad news and I have some good news. It sounds like you haven't had much good news in a while, so I'll give the good news first. Today, I called the NPS to find out more about the backpayments, when it's all due, accepted payment methods, etc. They told me that I don't don't have to pay it, that Nicky's Hagwon a.k.a. Wonderland in Anyang has to pay 100% of the 1,512,000 in backpayments. So I don't think they're going to charge you with 50,000,000 in backpayments.
Now for the bad news. I reminded them that Nicky's Hagwon, a.k.a. Wonderland in Anyang had been told in October 2013 that they had one month to pay the amount and never did. I asked them what, if anything, was being done. As usual, they told me NHIC handles the enforcement of pension payments and told me to call them. So I called NHIC and here's the bad news I've been telling you I have: they told me that it's totally voluntary for schools to pay into pension. They told me that I should go to the nearest branch office and see if the manager of the NHIC branch office could lean on Nicky's Hagwon to pay it. I told her, "But if it's voluntary, it's not like they're going to pay." She agreed and added that a lot of foreigners call in with the same problem, but it is completely voluntary for employers of foreign workers to pay into the pension of the employees. |
Did they do bankrupt? |
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FriendlyDaegu
Joined: 26 Aug 2012
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| Posted: Mon Dec 01, 2014 11:10 pm Post subject: |
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| Chaparrastique wrote: |
| IS-F wrote: |
| The 10 years is when you officially qualify for monthly pension payments at the retirement age. |
You qualify once you make a certain number of payments (160, I think). |
120 (10 years worth) |
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Lucas
Joined: 11 Sep 2012
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| Posted: Mon Dec 01, 2014 11:50 pm Post subject: |
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| Quote: |
Quote:
Quote:
trueblue wrote:
Others here, are just plain assholes.
------------------------------------------------
You would know.
Trueblue is more of a round peg in a square hole.
Just, TRULLY devestating, Lucas. |
The only truly devastating thing is your grasp of the English language. |
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Seon-bee
Joined: 24 Jan 2003
Location: ROK
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| Posted: Tue Dec 02, 2014 3:57 am Post subject: |
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| Don't believe everything you read on the Internet. Nice try. |
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EZE
Joined: 05 May 2012
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| Posted: Tue Dec 02, 2014 5:56 am Post subject: |
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| Stan Rogers wrote: |
| Did they do bankrupt? |
I don't know for sure, but I doubt it.
| Seon-bee wrote: |
| Don't believe everything you read on the Internet. Nice try. |
I believe him, because the way he describes his encounters with the NPS very accurately describes their m.o. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Tue Dec 02, 2014 3:33 pm Post subject: |
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| basic69isokay wrote: |
| Stan Rogers wrote: |
| FriendlyDaegu wrote: |
| I thought at 10 years in the system you were 'vested' and could no longer take the money out as a lump sum. |
Depends on the country you are from. Canadians have a 10 year cut off point on lump sum withdrawls. I think the U.S. doesn't. |
Also, after 24 years he cant be that far off from retirement age.
I'm guessing he's in his 50s. Whats the qualifying age? 63? |
As far as I know, the public pension and the sharing arrangement between Canada and Korea only started in the late 1990's? The public pension also pays less than the amount that you quote. But there could be additional old age pension or suppliment to go with the pension to make it more. Hard to say. |
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Rutherford
Joined: 31 Jul 2007
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| Posted: Thu Dec 04, 2014 1:58 am Post subject: |
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| I'm picturing OP drunk and raving in the NPS pension office while they try to explain that he was working at private universities so his money is in a private pension. |
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