Korean Job Discussion Forums

[Bibbitybop]

I have been in the public pension system for 2 years. I am changing employers in Korea and they pay into a private pension system.

Am I able to get my pension from the public pension system, or must I still wait until I leave the country for good (or show up to the pension office with a one-way ticket)?

[jackson7]

I checked on this myself. As of July 2007, the rules changed. We can no longer take our pension when changing from public to private systems. One-way ticket or leaving is the only route. Don't shoot the messenger.

[Bibbitybop]

Thanks, Jackson.

[Bibbitybop]

Just read through the 7 current pages in the Pension sticky, posted these questions and I guess no one reads the sticky.

I am changing jobs and my employer will pay into a private pension fund. I have worked 2 years in Korea in the national pension fund. I want to get my money.

I hear I can bring a one-way ticket to the pension office for a refund. I will leave the country for a few days, but come back.

1. Is there any penalty for doing this?

2. My job ends in August. When is the earliest I can request my pension refund? Can I go in June? July? If I go early, when can I expect the money in my home country bank account?

Cheers, BB