Korean Job Discussion Forums

[jondepoer]

Hello everyone,

Can anyone speak from experience as to whether the pension office will deposit my pension balance in a Korean (KEB) bank account?

I'm worried about the exchange rate, and I'd rather send it home strategically, when things improve.

To be clear, I am leaving korea for a while, but I'm leaving my bank account open for when I return. I have online banking and can send money home anytime.

Comments?

[decolyon]

Yes they will. I cashed out 3 years worth of pension last March and they not only put in my Shinhan account, but earlier than they said and more than they estimated. But the when they do it depends on when you school makes your last payment to them.

The pension office here is the single most efficient and well run bureaucratic office I have ever had the pleasure of dealing with. People were damn friendly too.

[oldtactics]

Confirm, mine was put into my KEB account about two weeks after I filed the paperwork.

[tek75]

Happy to give further confirmation. They sent the money to my KB account last year; there was no problem whatsoever.

[jondepoer]

Thanks folks. That's a relief!

[jondepoer]

This thread's a bit old, but I was just wondering if you guys had any problem getting your entire pension? I was short-changed roughly a month's contribution. Any thoughts?