Korean Job Discussion Forums

[IconsFanatic]

(from http://www.npc.or.kr/eng/enpsk.html?code=./enpsk/a06.html)

2. Foreigners and payment of Lump-sum Refund
Foreign Insured Persons under the National Pension Scheme are equally treated as the national Insured Persons. For example, there is no discrimination in terms of the benefit amount and remitting benefit abroad, etc. But there is a certain distinction in regarding Lump-sum Refund. In principle, Lump-sum Refund is not paid to foreigners leaving Korea after having been covered under the Scheme. But, in the case of foreigners falling under any of the following items, Lump-sum Refund is paid.

- People whose country grants Koreans a benefit corresponding to Lump-sum Refund under the National Pension Scheme.
- People whose country concludes a social security agreement with Korea to secure benefit right by totalling Insured period in each country.


Okay... so do Canadians fall under the last two categories?

Has anyone on here had any trouble getting back their pension money, or am I just paranoid?

[prairieboy]

Yes, Canada has a reciprocal agreement with Korea for pension contributions. I know several Canadian teachers who have applied for the lump sum refund and have received it about a month after leaving Korea.

Cheers