Korean Job Discussion Forums

[travelnguy]

I call the NPS (National Pension Service) today about my salary being reported. They told me that if I feel that my salary is being reported incorrectly that I should speak to my school.

I work at a very small school and none of the office workers speak English.

My question is this. Is 30% of my income still tax free? The reason I ask is that only 70% of my income is being reported to the NPS. I knew this was the case last year, but I thought I remember reading somewhere that the government stopped this.

Anyone have fist hand knowledge of this?

Thanks.

[mmstyle]

Yes, this is due to a rule. Try doing a search here:
http://www.google.com/cse/home?cx=006359271486458796786:_ooozypbm6u

If I try to explain, I will get it all wrong. Alternately, wait for Ttompatz to find your thread. He explains things really well, and seems to have unending patience when it comes to explaining all this stuff.

Please note: I am not in any way slamming you, as the Dave's search function sucks. The link I gave you should give you some results fairly quickly, as it is MUCH better.

[OculisOrbis]

The 30% income reduction for TAX purposes ended on Dec 31, 2009 (and never applied to pension anyway, but the pension office let them do it until then). It no longer exists anymore and as of Jan. 1, 2010, one hundred percent of your earnings should have been reported and your contributions should be calculated from your entire salary.