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ppcg4
Joined: 16 Oct 2008
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 Posted: Thu Mar 05, 2009 12:54 am Post subject: No pension? |
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I had an interview today, and the director explained that I do not have to pay pension, since he doesn't report anything to the pension office.
Is this illegal? It must be. He said I can choose to pay it or not, because of a legal loophole. I would definitely rather pay it than expose myself to any trouble in this country.
What do you guys think? |
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wylies99
Joined: 13 May 2006
Location: I'm one cool cat!
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| Posted: Thu Mar 05, 2009 12:56 am Post subject: |
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You'd have to be CRAZY to take a job at a place like that.
BTW, what's the name of the hagwon and which recruiter recommended that hagwon? |
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yingwenlaoshi
Joined: 12 Feb 2007
Location: ... location, location!
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| Posted: Thu Mar 05, 2009 12:57 am Post subject: |
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You won't get in any trouble. None whatsoever.
If you choose not to pay it, you'd be on your boss's good side. Maybe he could increase your salary a bit.
Keep in mind, that you can always claim it after you've finished working there.  |
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Jeff's Cigarettes
Joined: 27 Mar 2007
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| Posted: Thu Mar 05, 2009 12:57 am Post subject: |
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| Your boss would certainly rather not pay it as he has to match all you contributions. No pension = keep on walking. And, be sure to tell him that you are passing up his job for the above reason. |
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ppcg4
Joined: 16 Oct 2008
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| Posted: Thu Mar 05, 2009 1:00 am Post subject: |
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I don't really get how this pension thing works.
Is it a legal obligation? Or is it just for me to save up some cash on the side to pick up before I leave the country?
The name of the school is English Friends, and the recruiter is Bonnie from OK Recruiting.
However, Bonnie told me that I would have to pay pension myself, about 100,000 per month. The employer told me differently, so I don't think Bonnie has done anything wrong. |
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yingwenlaoshi
Joined: 12 Feb 2007
Location: ... location, location!
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| Posted: Thu Mar 05, 2009 2:04 am Post subject: |
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| Jeff's Cigarettes wrote: |
| Your boss would certainly rather not pay it as he has to match all you contributions. No pension = keep on walking. And, be sure to tell him that you are passing up his job for the above reason. |
Not necessarily. It's not the be all and end all. |
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emmeno16
Joined: 26 Feb 2008
Location: Illinois
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| Posted: Thu Mar 05, 2009 2:38 am Post subject: Americans Pension Refund??? |
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| My Canadian friend says that Americans can only take out their pension ONCE in their life, upon completion of contract. Does anyone have any proof of this? I don't want to rule out Korea FOREVER, but I was kinda' counting on that pension monies. |
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Young FRANKenstein
Joined: 02 Oct 2006
Location: Castle Frankenstein (that's FRONKensteen)
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| Posted: Thu Mar 05, 2009 3:07 am Post subject: Re: Americans Pension Refund??? |
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| emmeno16 wrote: |
| My Canadian friend says that Americans can only take out their pension ONCE in their life, upon completion of contract. Does anyone have any proof of this? I don't want to rule out Korea FOREVER, but I was kinda' counting on that pension monies. |
You're only supposed to get the money as you leave Korea permanently, but if one were to change their mind and come back some time later, and subsequently begin paying into the pension fund again, he can get it back when he leaves Korea again. I wouldn't count on them being very accommodating if you did it a third time. |
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