Korean Job Discussion Forums

Seon-bee · Joined: 24 Jan 2003 Location: ROK

After working here a few years, I've never once made contributions. I just got a letter in the mail telling me I have to.

Any hagwon workers paying into it and how much are you paying?

camel96 · Guest

Mr. Pink · Joined: 21 Oct 2003 Location: China

The payment is based on your salary.

Your employer should pay 50%.

The amount is more than the amount of tax I pay if indeed my employer is paying 50%.

If you are from select countries you get it back when you leave.

kylehawkins2000 · Joined: 08 Apr 2003

I pay about 100 000won a month. My employer contributes the same amount. after my year is up I will get it back (I'm from Canada). Should be over 2 million for the year.

prairieboy · Joined: 14 Sep 2003 Location: The batcave.

I'm on a third contract now. First two were with a different hagwon and I was paying 80,000 won a month. So over the year and a half that I was actually making payments, I should get around 3 mill back plus whatever I pay in this time around.

anae · Joined: 13 May 2003 Location: cowtown

Back in 1998-1999, I had an employer who dutifully deducted for national pension every month. When we went to go back to Canada in 2001 boy I was I surprised to find that the Pension Dept. had never heard of me. Needless to say that employer got a few phone calls from my irate husband - give us the money or do some explaining to the gov't.

If there was a next time, I would head over to the local office and make sure that they had heard of me before I let my hagwon owner make deductions.

Seon-bee · Joined: 24 Jan 2003 Location: ROK

Actually, the form is from the pension corp. Nothing from the hawon. They have nothing to do with this. I'm supposed to fill in the details, including bank info for automatic deductions. Doesn't even say how much the deductions will be. I have to note my income first.

Just wondering what'll happen if I don't reply. Seems weird though because few if any hagwon-ers seem to be paying into it.

Zed · Joined: 20 Jan 2003 Location: Shakedown Street

2 hogwons. Never paid.

Arthur Fonzerelli · Joined: 22 Jan 2003 Location: Suwon

slap it · Joined: 21 Jan 2003

Pay into it............it is the law. 4.5% of your base salary should be deducted for pension each month. The employer should be matching the amount. Man...........you guys are losing out big time if you haven't been paying into it.....Plus your employer must be a flake because this has been around for some time now. If your American or Canadian.....this is an added bonus!!!!!!!!!

Guest · Posted: Tue Jan 27, 2004 1:42 am Post subject:

Actually there are some technicalities to the law as well.

Including the fact that your employer does not need to contribute to the fund if there are less than five full time employees at the "work location." There are some others as well, but it's difficult to read exactly how you might fit into the scheme. There is some question as to a scenario of regardless of the employee number that the employee must contribute and the employer does not need to contribute until the five number is reached and so on. But according to the "legal experts," yes it is mandatory. Keep in mind that if you haven't been paying into it and then suddenly you do start paying you have to pay retroactive as well ... which could add up.