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romano812
Joined: 09 Dec 2008
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 Posted: Sun Jul 26, 2009 4:11 am Post subject: Collecting Pension Money |
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Hi,
I'm wondering if pension money from the Korean NPS can be applied for after a person has returned to their home country, or if it has to be done in Korea before you leave. Also, does anybody know if your bank account here in Korea has to be closed before you can apply for your pension money? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Jul 26, 2009 5:45 am Post subject: Re: Collecting Pension Money |
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| romano812 wrote: |
Hi,
I'm wondering if pension money from the Korean NPS can be applied for after a person has returned to their home country, or if it has to be done in Korea before you leave. Also, does anybody know if your bank account here in Korea has to be closed before you can apply for your pension money? |
Yes, you can file for the claim after you return home but it is difficult and IMPOSSIBLE if there is some problem (like your old boss didn't pay into it).
It is best to apply for it BEFORE you leave. It takes about 15 minutes at ANY PENSION OFFICE if everything is in order.
Your Korean bank account does NOT need to be closed to file for your pension refund.
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newinseoul
Joined: 22 Sep 2005
Location: Busan
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| Posted: Sun Jul 26, 2009 5:55 am Post subject: |
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If you apply in your home country, you could wait for awhile. I know a friend who waited for over three months in Canada for a refund.
On the pension note, does anyone know if there is a pension office website on where the locations are located? Cheers |
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romano812
Joined: 09 Dec 2008
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| Posted: Sun Jul 26, 2009 3:52 pm Post subject: |
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Thanks for the info.
There are pension offices all over the city. The "NPS" signs are fairly easy to spot. If you are near Gangnam there is a pension office out exit #4 of Gangnam station. Just walk straight to the first intersection with traffic lights and it is the building on your left (I believe the 4th floor). |
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okayden223
Joined: 05 Jun 2009
Location: Incheon
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| Posted: Mon Jul 27, 2009 9:28 am Post subject: |
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| Last year it took me 6 weeks after I left before the money was deposited into my account, so don't fret if you don't see it for a while. They will pay... bureaucracy takes time...it's meant to be that way. |
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