Korean Job Discussion Forums

ninjai · Joined: 25 Jul 2006

I worked in Korea for 2 yrs as an English teacher. Now enrolled into a university for Korean studies in the Fall 2009. Now I have student visa.

My situation is that the pension office requires a one way ticket back Canada in order to receive my pension. Are there any way for the pension office to deposit my pension into my korean bank account without me leaving Korea? Anyone in my situation?

I thought about buying a one way ticket to any country and prove pension office, I was "leaving" korea. Telling them to deposit the money into my Korean account as I "would return back to " korea after 2 months.Then after the papers have been process, I cancel my flight in order to receive the pension. Will they check my new visa status?

Any other easier ways???

Thank u in advance

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

Kilgore Trout · Joined: 24 Mar 2007 Location: Bucheon, Korea

ttompatz, you're always a great source of wisdom about legalities in Korea. I wonder if you have any insight into my situation, which is a little similar to the OP's.

I'm finishing my contract this month, so I applied for the pension refund. Since I did that, however, I've been offered a new job, a great position, so I agreed to take it. It starts on 1 Sept. The new school found out that sponsorship of my visa can be transferred from my current employer to them, so that it would not be necessary to get a new visa, since the current one would be extended, albeit with a new sponsor.

My questions: To claim the pension refund, does the visa itself have to be cancelled and the ARC turned in at the airport? If yes, and I went the route of getting a new visa for the new job and left the country to process this new visa, is it too soon to come back just a few days later? To be claiming the pension money, the person should ostensibly be leaving Korea forever; is there some minimum discretionary time the teacher should be out of Korea before risking a return?

Thanks for any help you (or anyone!) can give.

OculisOrbis · Joined: 17 Jul 2006

you just have to leave korea. time is not an issue. you could return the same day if you like and still receive your pension payment.

my question is ' why not just let your current balance sit in its account and let the new employer continue to add to it?' i think that it accumulates a small bit interest while it sits in your pension account.

yingwenlaoshi · Joined: 12 Feb 2007 Location: ... location, location!

I got three years worth of pension contributions just by showing them a same-day return ticket (to Fukuoka and back - a ticket I used). I didn't have an alien card to show them since that had been cancelled, but I had my exit order which is on paper with my alien card number. They said, however, that they check with immigration to make sure I actually left. If they really do check this is debatable. I got the refund in less than a week.

This was last year.

Kilgore Trout · Joined: 24 Mar 2007 Location: Bucheon, Korea

Thanks for the information. It's heartening to hear that others have had a fairly smooth ride through the pension minefields.

To answer O.O.'s question, I'd like to get my hands on the money to help finance a wedding at the end of the year. I've got a couple years' accumulation in there, so it's a nice chunk of change by now. Should help out a lot.

OculisOrbis · Joined: 17 Jul 2006

congratulations on your wedding. (i assume it's your wedding, anyway...)