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jadarite
Joined: 01 Sep 2007
Location: Andong, Yeongyang, Seoul, now Pyeongtaek
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 Posted: Tue Nov 27, 2007 6:29 pm Post subject: Pension figures |
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I am looking for MONTHLY averages for the following salaries:
2.2, 2.0, and 2.5 million won per month
Is it true the pension is the only thing the employer is supposed to pay half of? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Nov 27, 2007 7:00 pm Post subject: Re: Pension figures |
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| jadarite wrote: |
I am looking for MONTHLY averages for the following salaries:
2.2, 2.0, and 2.5 million won per month
Is it true the pension is the only thing the employer is supposed to pay half of? |
They are required to pay 1/2 of the contribution toward your pension AND your medical insurance.
Pension is 9% of your salary with each of you paying 1/2.
Medical is 4.77% of your salary with each of you paying 1/2.
wages of 2.0 - pension is about 90000 each, medical is 47700 each.
wages of 2.2 - pension is about 99000 each, medical is 52470 each.
wages of 2.5 - pension is about 112500 each, medical is 59625 each.
The pension refund (if you are entitled) is about:
on 2.0 mil = 2160000 per year of contributions.
on 2.2 mil = 2376000 per year of contributions.
on 2.5 mil = 2700000 per year of contributions.
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jadarite
Joined: 01 Sep 2007
Location: Andong, Yeongyang, Seoul, now Pyeongtaek
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| Posted: Wed Nov 28, 2007 12:28 am Post subject: |
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| Is the 9% pension mandatory or optional? |
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