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Druzyek
Joined: 02 Feb 2010
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Posted: Mon Jun 07, 2010 3:48 am Post subject: Pension Question |
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I don't know much about the pension here but I was hoping I would have a little money waiting on me in it when I get done. My boss told me today I don't pay into to it, though. I work for a franchise hagkwon 38 hours a week for 2.1 million. Is anything fishy going on? |
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ontheway
Joined: 24 Aug 2005 Location: Somewhere under the rainbow...
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Posted: Mon Jun 07, 2010 7:26 am Post subject: Re: Pension Question |
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Druzyek wrote: |
I don't know much about the pension here but I was hoping I would have a little money waiting on me in it when I get done. My boss told me today I don't pay into to it, though. I work for a franchise hagkwon 38 hours a week for 2.1 million. Is anything fishy going on? |
Uh, yeah.
It's fishy that you're working 38 hours. Is that time at the hogwan or actual teaching hours? Either way it sounds like too much for only 2.1 million, unless you're getting some massive overtime.
Unless you have managed to sign a legal contract that stipulates that you are an Independent Contractor, and spells out what that entails, you should be paying income tax (under 2%) see the NTS site for the correct withholding, health insurance (about 2.5%, I can never remember the exact percentage, which changes occasionally anyway) and pension (approx. 4.5% and that is matched by your employer. The pension comes to 9% of your total pay, refundable to you whenever you are finished and leave Korea.
But, no, this doesn't sound fishy, although it stinks. It sounds like you are being cheated. |
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Druzyek
Joined: 02 Feb 2010
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Posted: Mon Jun 07, 2010 7:58 am Post subject: |
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Thanks for the reply. The 38 hours is the actual time at the hagkwon. Actual teaching time is less than 20 per week.
I checked out my contract and it says I will pay into the pension. It looks like my boss just isn't doing her part.
Otherwise, I don't think I am being cheated. My boss has been really fair with everything else. I take home 1.6-1.7 per month after taxes/insurance/etc and my utilities and cell phone being taken out.
Any suggestions on what to do? I think asking for 4.5% of what I have earned up until now along with a 4.5% raise would be fair. I assume the interest I would be getting in the pension is not that great. |
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travelnguy
Joined: 27 Sep 2007
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Posted: Mon Jun 07, 2010 4:01 pm Post subject: |
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Do you get a pay slip from your employer? Your take home pay is quite low. I know you said that your take home pay is after deductions for utilities, but if you are in a traditional box, then utilities should be almost nothing.
My salary is quite a bit higher than that and we live in a large 3 bedroom apartment. Yet, my deductions are about the same as yours. Mine include insurance, pension, taxes, and utilities. |
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Druzyek
Joined: 02 Feb 2010
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Posted: Mon Jun 07, 2010 5:09 pm Post subject: |
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I only got one pay slip at the very beginning. I get the utilities bill and give it to my boss to be paid. It is usually around 150,000. That's about what everyone else in my building pays too. Apparently it contains other costs like maintenance fees. My cell phone is 30-40k a month. |
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wesharris
Joined: 10 Oct 2008
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Posted: Mon Jun 07, 2010 6:07 pm Post subject: |
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Druzyek wrote: |
Thanks for the reply. The 38 hours is the actual time at the hagkwon. Actual teaching time is less than 20 per week.
I checked out my contract and it says I will pay into the pension. It looks like my boss just isn't doing her part.
Otherwise, I don't think I am being cheated. My boss has been really fair with everything else. I take home 1.6-1.7 per month after taxes/insurance/etc and my utilities and cell phone being taken out.
Any suggestions on what to do? I think asking for 4.5% of what I have earned up until now along with a 4.5% raise would be fair. I assume the interest I would be getting in the pension is not that great. |
I don't know about that now.
I teach 25 hours a week, 27,5 hours spent at school during a week. |
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salgichawa
Joined: 18 Mar 2010
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Posted: Mon Jun 07, 2010 7:16 pm Post subject: Re: Pension Question |
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Druzyek wrote: |
I don't know much about the pension here but I was hoping I would have a little money waiting on me in it when I get done. My boss told me today I don't pay into to it, though. I work for a franchise hagkwon 38 hours a week for 2.1 million. Is anything fishy going on? |
Hi There,
http://www.nps.or.kr/jsppage/english/main.jsp
Here is the site. Browse a bit.
If you have proof of salary without pension the national pension office are able to enforce it by calling or dropping or letter to your school to say they are aware of it or monitoring it.
Often they are as disorganised as anything and will put off putting it in, planning it later or just hope no one notices.
Call the pension office in that case.
Good luck, |
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moosehead

Joined: 05 May 2007
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Posted: Mon Jun 07, 2010 10:01 pm Post subject: |
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Druzyek wrote: |
T
I checked out my contract and it says I will pay into the pension. It looks like my boss just isn't doing her part.
Otherwise, I don't think I am being cheated. My boss has been really fair with everything else. |
how do you define "fair?" it's the law she needs to pay into your pension; and if she's not, only you are, well, that means she's pocketing the money because otherwise, the pension office would be asking where is her contribution.
but I'm sure since she's being so fair, she does plan on making sure you get everything that's due you at the end of your contract, right?
Druzyek wrote: |
I take home 1.6-1.7 per month after taxes/insurance/etc and my utilities and cell phone being taken out.
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uh, why is your boss paying your utilities and cell phone? have you seen the bills at all? it's not that hard to manage on your own, just pay them at the bank, no problem. you can also pay by bank transfer (atm) or some of the local marts (G-7, etc.) |
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balzor

Joined: 14 Feb 2009
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Posted: Mon Jun 07, 2010 11:10 pm Post subject: |
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this sounds like my hagwon last year. They were trying to do all this under the table stuff and we had to put a stop to it. First, Pension is required by law to be paid. They have a National Pension plan. 4.5% from you and your employer. Second, demand pay slips and copies of your bills. having them pay it is less hassle for you, but tell them you want to see the bill. You should be getting the payslip and keep them for your taxes and as proof that you are being paid and what amounts if they ever try to pull something. If they say it is too much work, then go buy a notebook or something and tell them you will keep track or your own bills and give them the money come collection time. Otherwise, you are asking to be taken advantage of. Trust me been there, done that |
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