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david
Joined: 31 Oct 2003
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 Posted: Tue Feb 12, 2008 8:34 pm Post subject: Amount of Pension Refund |
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I'm an American who is at the end of a contract with a public school in Masan. I make 2.2 million won per month and have been told by my employer that my pension will be deposited into the specified American bank account in late March. ( About 2.1 million won according to my employer. ) Does this sound about right?
As for severance: Will I receive this on my last payday as I have at hogwons in the past? Does anyone out there have anything to say regarding public schools and their handling of severance, pension, and airfare? Good? Bad?
Thanks! |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Tue Feb 12, 2008 8:44 pm Post subject: |
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| You have to go to the pension office and apply for your pension. |
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nomad-ish
Joined: 08 Oct 2007
Location: On the bottom of the food chain
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| Posted: Tue Feb 12, 2008 9:52 pm Post subject: Re: Amount of Pension Refund |
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| david wrote: |
I'm an American who is at the end of a contract with a public school in Masan. I make 2.2 million won per month and have been told by my employer that my pension will be deposited into the specified American bank account in late March. ( About 2.1 million won according to my employer. ) Does this sound about right?
As for severance: Will I receive this on my last payday as I have at hogwons in the past? Does anyone out there have anything to say regarding public schools and their handling of severance, pension, and airfare? Good? Bad?
Thanks! |
go to the pension office.. here's a good info site http://wiki.galbijim.com/Korean_pension_plan
as for the other stuff, i'm trying to get that sorted at my public school too. i know people who have been told to go out and buy their tickets and they'll get reimbursed later, and another who just got the money up front. seems to vary between schools. best to talk to your handler and sort this stuff out now |
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boyne11
Joined: 08 Jul 2007
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| Posted: Tue Feb 12, 2008 11:03 pm Post subject: Re: Amount of Pension Refund |
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| david wrote: |
I'm an American who is at the end of a contract with a public school in Masan. I make 2.2 million won per month and have been told by my employer that my pension will be deposited into the specified American bank account in late March. ( About 2.1 million won according to my employer. ) Does this sound about right?
As for severance: Will I receive this on my last payday as I have at hogwons in the past? Does anyone out there have anything to say regarding public schools and their handling of severance, pension, and airfare? Good? Bad?
Thanks! |
Your pension refund should be:
2.2 million X 9% X 12 months = 2,376,000
As for the severance, the EPIK office in Seoul informed me that your severance is to be deposited into your home account. But they also told me that it may vary from school to school. |
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dethe
Joined: 01 May 2005
Location: Anyang
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| Posted: Wed Feb 13, 2008 12:39 am Post subject: |
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| Your pension should be double what you paid into it. Your amount and the amount your boss or school put into. Look at your pay stub or call the pension office. They can tell you how much is in the account. |
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