Korean Job Discussion Forums

[afsjesse]

I"m finishing up my job here with EPIK at the 10 month mark and leaving early. Due to this prospect can I withdrawl my pension? Also are these all the docs I need

1. Passport/ARC
2. Plane Ticket printout
3. 2 Forms filled out for the transfer and withdrawl from the system.
4. Contract
5. Letter of Resignation that has my last day on it.

Thanks for all the help.

[Tobias]

I needed my ARC, my plane ticket, and my bank information to get my refund. Unless something has changed in the laws, you don't need anything else. I took my passport but wasn't asked for it.

Those forms you're talking about you'll get at the pension office when you apply for your lump sum.

I recommend taking your figures for how much you've paid in, how much your boss has paid in, and how much you should have total in the account. Taking your pay stubs would be a good move as well.

[mavsfan5]

I was wondering about this too. My hagwon owner hasn't kept his end of the contract so I'm thinking of bowing out on Monday. Can I still get my pension refund or do I have to have something from the school??

[Tobias]

You need to gather your pay stubs, calculate what you should have in your account (2 x your contributions), and then call the pension office to get your balance. You should do this this week to make sure everything is square. You're running next week, after all. If there's problem, you can straighten it out before fleeing.

You'll need to take a plane ticket, your ARC, and your bank information when you do go to the pension office to apply for your lump sum. You don't need anything from your school, save for those pay stubs to serve as proof. If your target bank is in your home country, it'll take about 5 weeks to get your refund AFTER you've turned in your ARC at the airport. If your target bank is in Korea, it'll take about two weeks after you're gone. They won't touch your case until after you've turned in your ARC and have left the country.

Heads up advice: get the email address of your pension officer. This will allow you to ask for and get updates on your refund while you're waiting.