Korean Job Discussion Forums

[suwonteacher]

Here's the situation: I've been working for the same company for three years and am finishing in November. I've heard from other teachers that I'm entitled to a pension refund but my boss has always skated around the topic. I'm curious if he's required by law to pay the pension fund, what I'm legally entitled to, and if there's any action I can take if I'm not granted my pension. I think there may be some shady dealings going on and want to know if I have any legal recourse. Any advice or knowledge would be greatly appreciated.

[Tobias]

Yes. He IS required to pay into your account, just as you are.

Yes, you are entitled to a refund of the total amount, both his and your contributions.

Your title says he hasn't paid. Your post doesn't mention the account's status, though, so the post is ambiguous. Has he or hasn't he paid? Have you checked? Maybe he has been paying all this time and you're worrying about nothing.

If he hasn't been paying and you KNOW he hasn't, it's time to get a lawyer. That's a pretty penny you'd be missing out on if you turn tail and run without fighting.

You're entitled to it, and you yourself have paid into it, so you need to find out what's up with this account.

[teachingld2004]

the question is this: Has your boss deducted your portion from your pay check? I fhe has, then you will get it back. have you saved your pay receipts?

[cruisemonkey]

You don't need a lawyer. Contact your pension office and they will go after your boss. He will be required to make all the 'back payments' (and so will you if you have not had pension deductions from your pay).

[ttompatz]

[suwonteacher]

This is very helpful--Thank you. I talked to my boss this morning and will pay the back premiums this week. Had I not found out about this when I did I would be out of a big chunk o' change!

[Tobias]

I'm now having a hard time understanding your situation...you've been working for this guy for three years and are just now finding out about the pension laws? How can somebody be here that long and not know the truth?

What else is he skimping on? Better check to make sure you have insurance, by the sound of it. Also, did this guy pay your completion bonus each of the last two years?

This guy knew full well he had to pay into your fund. Now that he has a huge egg on his face, are you leaving him early?

[suwonteacher]

I've gotten all of my completion bonus each year and they are flying me home at the end of my contract. I also have health insurance for which they pay half. Other than this pension situation it's been a good job. I am trying to be diplomatic with them out of worry of being fired or screwed by the end of my contract, which I don't think will happen. I'm going to talk specifics with them tomorrow and if they try to back out of it I'll go to the pension office. I'm also passing along the pension info I've found to my fellow employees. Thanks again.

[I-am-me]

I had similar problem. Worked at same job for 3 years and found out my taxes and pension hadnt been paid. I didnt really care much about the pension since no money was taken out monthly but my taxes were. The tax office had received no taxes from me. I finally got my money back. Boss faced a big fine or paying me directly. Of course contract was cut short a month. Guess it pissed him off. Dont know why...it was my money!! Make sure your boss has paid your taxes and get your refund back.

[Tobias]

[quote="I-am-me"]...Worked at same job for 3 years and found out my taxes and pension hadnt been paid. I didnt really care much about the pension since no money was taken out monthly but my taxes were. The tax office had received no taxes from me. I finally got my money back. Boss faced a big fine or paying me directly. Of course contract was cut short a month. Guess it pissed him off. Dont know why...it was my money!! Make sure your boss has paid your taxes and get your refund back. :shock:[/quote]

So your boss was making the deductions but not paying it to the tax office?

3 years of pension money would be a pretty stack. If you don't want it, tell you former boss to send it to me. His contribution should be a nice 3-million-won+ sum by now. He is required to pay that, and I'll gladly take it off your hands.

Go get that pension.

[I-am-me]

Only reason I dont go after the pension is that the school has been pretty good to me regarding working conditions. Boss has helped me out in many things so I prefer not to leave on bad terms. He lost face but that was his fault. Who knows, I might work there again!!

[R-Seoul]

So your boss screwed you out of circa $3,000- but you won because he lost face!

[wylies99]

[hagwonnewbie]

2 mil times 4.5% times 36 months = 3240

[bondjimbond]