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Slowmotion
Joined: 15 Aug 2009
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 Posted: Mon Jan 03, 2011 10:37 pm Post subject: Getting pension lump sum(unique situation) |
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So I've been working for GEPIK for 2 years now, about to sign for my third year. I'm flying back to the states since my contract states they will pay for it (don't need a visa run, i'm on an F series visa).
I read the instructions on getting a lump-sum refund. It says I need:
-Application form
-Copy of ID card
-Bank book
-Plane ticket
First, can I get pension money back in my situation?
-My tickets are roundtrip tickets and i'll be back in 2 weeks
-My contract isn't finished until March, which means I still get a paycheck in a few weeks (Jan) and Feb
-I'm re-signing with my school
Also my ticket is from orbitz, and it's just a ticket number that I usually have to get at the airport, how do I show the pension office this?
Thanks |
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Rutherford
Joined: 31 Jul 2007
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| Posted: Mon Jan 03, 2011 11:24 pm Post subject: |
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| I checked on this last year. Pretty sure you're not supposed to be able to get your refund if you're renewing and leaving on a roundtrip ticket. Probably someone has done it though. Take your documents down to your pension office and see what they can do. You never know until you try here. |
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Rutherford
Joined: 31 Jul 2007
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| Posted: Mon Jan 03, 2011 11:24 pm Post subject: |
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| I checked on this last year. Pretty sure you're not supposed to be able to get your refund if you're renewing and leaving on a roundtrip ticket. Probably someone has done it though. Take your documents down to your pension office and see what they can do. You never know until you try here. |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Mon Jan 03, 2011 11:34 pm Post subject: |
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No, you cant claim it. Double nix: return ticket (ding!) & continuing at same job (ding!).
What makes your situation unique? |
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Slowmotion
Joined: 15 Aug 2009
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| Posted: Tue Jan 04, 2011 3:47 am Post subject: |
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| schwa wrote: |
No, you cant claim it. Double nix: return ticket (ding!) & continuing at same job (ding!).
What makes your situation unique? |
How will they know about me continuing the same job? What if I applied while in my 2 weeks in the states? |
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oldtactics
Joined: 18 Oct 2008
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| Posted: Tue Jan 04, 2011 4:03 am Post subject: |
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| The whole point of them requesting a plane ticket is to ensure that you have an outgoing ticket, not a round-trip ticket. |
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CentralCali
Joined: 17 May 2007
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| Posted: Tue Jan 04, 2011 4:31 am Post subject: |
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| As explained to me by the local pension office director, the pension office is supposed to verify with Immigration that you have not returned to Korea to work within a certain time before the pension office will disburse the account's funds to you. It doesn't matter where you are when you apply for the money, what matters is that you will be known to Immigration, and thus also to the pension office, as continuing your employment in Korea. |
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nw25th
Joined: 15 Feb 2009
Location: Daejeon
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| Posted: Tue Jan 04, 2011 7:32 am Post subject: |
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| I've cashed mine out when I was doing a visa run in Japan...wouldn't see why yours wouldn't work the same... |
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Slowmotion
Joined: 15 Aug 2009
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| Posted: Tue Jan 04, 2011 7:41 am Post subject: |
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| nw25th wrote: |
| I've cashed mine out when I was doing a visa run in Japan...wouldn't see why yours wouldn't work the same... |
How long ago did you do it? How do I also show them my physical plane ticket?
What exactly do they want in terms of "bankbook" ? I assume it's for my account back home right? |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Wed Jan 05, 2011 3:55 pm Post subject: |
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| Slowmotion wrote: |
| nw25th wrote: |
| I've cashed mine out when I was doing a visa run in Japan...wouldn't see why yours wouldn't work the same... |
How long ago did you do it? How do I also show them my physical plane ticket?
What exactly do they want in terms of "bankbook" ? I assume it's for my account back home right? |
Yes the bankbook is so they know the name and account number of the the bank back home to transfer the money to.
But as already said it's a moot point since once they see that ticket (roundtrip) they are going to say "sorry, no dice". |
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soohak
Joined: 11 Sep 2007
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| Posted: Wed Jan 05, 2011 10:07 pm Post subject: |
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| nw25th wrote: |
| I've cashed mine out when I was doing a visa run in Japan...wouldn't see why yours wouldn't work the same... |
I did something similar a couple years ago. In my case, I had been on an E-2 visa for about 5 months, when my hagwon shut down the branch I was working for. Instead of finding another job, I enrolled in the SNU Korean language program and bought a plane ticket to do a "reverse" visa run and change to a D-4 visa. So I headed to the pension office in Songpa-gu. I went prepared with a printout of my e-ticket confirmation (round trip to Japan), my letter of release, Korean bankbook, ARC, passport, certificate of enrollment at SNU, and pretty much anything else I thought I might need.
When I arrived at the office, I handed the agent my round-trip flight confirmation, Korean bank book, and IDs. She asked if there was an American account that I would like the money transferred to. I told her that I would be returning to study, so they could just transfer it to my Korean account. I never showed her any of the other documents I had brought to prove I wasn't coming back to resume work, and she never asked for them. The fact that I was requesting a refund seven months before my visa expired didn't seem to raise any flags. She just verified the departure date on the ticket, wrote some things on a form, and sent me on my way. I left for Japan on August 25 and returned on August 30. I came back to discover the refund had already been deposited into my account two days earlier on August 28.
This was over two years ago though, so policies, staff, etc. may have changed since then. |
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Rutherford
Joined: 31 Jul 2007
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| Posted: Mon Jan 10, 2011 5:30 pm Post subject: |
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| Anyone successfully received their lump sum while renewing but leaving for a month one two one-way tickets? |
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Slowmotion
Joined: 15 Aug 2009
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| Posted: Mon Jan 10, 2011 11:53 pm Post subject: |
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I tried to do it today, no luck.
Everything was going fine until she asked me when my contact ended. My contract officially ends on Feb 28 and my last pension payment is made on March 10th. If i'm still under the pension plan at that point, I can't receive my money.
The airplane ticket didn't really seem to matter.
This was the Seongnam branch btw. |
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walterkim18
Joined: 07 Sep 2010
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| Posted: Tue Jan 11, 2011 3:25 am Post subject: |
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| I've finished my contract at the end of 2010. If I show the pension office a ticket and tell them to deposit my pension into a korean account, are they actually able to confirm with immigration that I've physically left the country? I have an F4 visa and would like to get my pension money now, without having to actually leave the country if possible. |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Tue Jan 11, 2011 3:34 am Post subject: |
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| walterkim18 wrote: |
| I've finished my contract at the end of 2010. If I show the pension office a ticket and tell them to deposit my pension into a korean account, are they actually able to confirm with immigration that I've physically left the country? I have an F4 visa and would like to get my pension money now, without having to actually leave the country if possible. |
Its my understanding that they confirm your departure before issuing the funds. |
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