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sundizz
Joined: 17 Dec 2009
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 Posted: Fri Nov 12, 2010 4:36 pm Post subject: Pension (US Citizens) |
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I am currently an EPIK teacher finishing contract at end of March. I will likely continue teaching in Korea but not renewing my current contract in my town. I'll prolly head to Seoul or something or the other. My question is whether I should be applying for the pension payment after this contract, or when I completely leave Korea?
Also for EPIK when I finish, I get my last month of salary and then a 1,300,000 exit allowance? That's all right? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Nov 12, 2010 5:47 pm Post subject: Re: Pension (US Citizens) |
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| sundizz wrote: |
I am currently an EPIK teacher finishing contract at end of March. I will likely continue teaching in Korea but not renewing my current contract in my town. I'll prolly head to Seoul or something or the other. My question is whether I should be applying for the pension payment after this contract, or when I completely leave Korea?
Also for EPIK when I finish, I get my last month of salary and then a 1,300,000 exit allowance? That's all right? |
Your pension is held in the government pension office.
You (are supposed to) file for it (and collect it) when you leave for good.
You get your exit allowance (1.3 million in lieu of airfare) and one month's salary (severance) plus your last month's salary (less taxes and pension contribution).
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nstick13
Joined: 02 Aug 2009
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| Posted: Sun Nov 14, 2010 4:00 am Post subject: |
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| You don't get your exit allowance if you move to a different province and are still with EPIK. To the best of my knowledge you also don't get an entrance allowance. I'm starting to think moving with EPIK is the worst deal one could get. |
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sundizz
Joined: 17 Dec 2009
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| Posted: Sun Nov 14, 2010 5:32 pm Post subject: |
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| Ooh, didn't realize I get a severance AND exit allowance. That's pretty sweet. |
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