Korean Job Discussion Forums

[Jarome_Turner]

I've heard different stories from different people, and was wonderring if anybody here has had experiences (good or bad) trying to claim pension more than once.
I'm leaving in March to go home for a year. I'm planning to return to Korea after my year at home, and am debating whether I should take my lump sum before I leave or not...
I could really use the money now, but am a little scared that if I take it, I won't be able to claim any future payments I make upon returning (My next stint will probably be a lot longer than this one...)
Anybody successfully claimed pension on multiple occasions? Anybody tried to do so and failed? What's the law?

[Jarome_Turner]

*bump*

[xCustomx]

As far as I know there is no law that says if you take it once that you can never get it again.

[jackson7]

I have heard more than once on this board that, if you take your pension and leave, upon returning you will be asked to pay that back into your pension upon starting work again. Can anyone verify this? A friend of mine wants to do the same, and has told me another friend of his (wow, this is getting to be some SERIOUS hearsay) has done it several years in a row. I would love to do that myself, as it would be worth a lot more to me paying off 12% APR debt than sitting in the pension account...

[Milwaukiedave]

I've heard that you have to repay it as well, but I am not sure. I left in June and was not planning on returning and came back and am now paying into pension again. When I have time, I'll have my wife call the pension office directly and ask them.

The funny thing is that we put that money in an investment account that is locked for a few years, so I'll have to pay it back out of my salary.

[matthews_world]

I was thinking of doing the same mid-contract.

I've left before and depleted my account, came back to the country a year or 2 later and I was not asked to replenish my pension plan.

Best bet is to call your local pension office.

[Jarome_Turner]

Thanks for the replies. I'll get my girlfriend to call the pension office tomorow to ask them directly. I'll post here when I get an answer.

[spliff]

I've claimed mine about 4 or 5 times already, every time I switch schools.

[Jarome_Turner]

[spliff]

Yeah, no problem.