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ironmaninkorea
Joined: 22 Nov 2007
Location: SEOUL
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 Posted: Sun Dec 02, 2007 10:40 pm Post subject: pension - 50% employer, 50% employee contribution? |
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my contract just says that my employer will deduct for the national pension scheme, but fails to mention the percentage. could this mean that i am responsible for ALL payment, and they DO NOT match contributions?
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Dec 02, 2007 10:45 pm Post subject: Re: pension - 50% employer, 50% employee contribution? |
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| ironmaninkorea wrote: |
my contract just says that my employer will deduct for the national pension scheme, but fails to mention the percentage. could this mean that i am responsible for ALL payment, and they DO NOT match contributions?
help |
They are LEGALLY required to pay 50% of the contribution to the NPS.
That said, unless it is a public school, there is a big difference between what is legally required and what they really do. |
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ironmaninkorea
Joined: 22 Nov 2007
Location: SEOUL
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| Posted: Sun Dec 02, 2007 10:48 pm Post subject: thanks |
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| i'm working for a big, reputable english school here in seoul, would they cheat me with payment contributions like a small hagwon? because my contract doesn't mention percentage deductions, or am i being anal? |
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georgewallas
Joined: 26 Nov 2007
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| Posted: Tue Dec 04, 2007 5:25 am Post subject: Paranoid? I don't think so |
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It's 4.5% of the gross, matched 100% by the employer.
Call the pension office and ask. It usually takes 3 weeks to post. |
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