Korean Job Discussion Forums

[whiteshoes]

I'm moving from the public to private pension in March. Do I still need to show a flight ticket out of the country to collect my money? I plan on buying a cheap ticket, and never using it if need be- I'll spend 300 to get 3000.

I will be renewing my current visa, so I assume I need to go to the pension office before filing this paperwork, correct?

Any other help would be great.

[ttompatz]

[whiteshoes]

So the fact that I'm changing away from the public pension does me no good in this regard?

That's too bad.

[ttompatz]

[zappadelta]

Hm, I believe that this is one of the few cases (changing from public to private) where you are allowed to get your pension out without leaving the country. I did this is 2007, when I switched from an elementary school to a university that was on the private pension scheme. I can't remember the details (what docs you need, etc.), but I do know it's possible because I did it.

[whiteshoes]

Thanks, I suppose I'll give the pension office a call.

I'll let ya'll know what happens. This is one of the few times I hope ttompatz is wrong

[ttompatz]

[zappadelta]

[whiteshoes]

Update. The pension office in Yonsan told me no dice. I may try my luck at a different office, I'm not sure it will help.

[bigpun]

[/qoute]Hi, no, I didn't do a visa run. I just got the letter of release from my elementary school and my visa was just updated at the immigration office by my new university (kept the same alien card and all, just looked like they added a new workplace (the new uni) on the back of the card). I still have the same alien card to this day, originally issued to me in 1995, although it's just about out of spots on the back of the card. I haven't done a visa run since 2005.

I got the lump sum (about 6 mil won at that time - from 1 year hagwon and 2 years elem school) deposited in my account, and started the new pension program at the university.

Ah, almost forgot, when I went to the pension office, I needed a simple letter from the new uni stating that I am now working there, and that they have a private pension system.

**edit** keep in mind this was in 2007, eons ago as far as visas, pension, immigration matters go[/quote]

White Shoes, ZD and all, I checked with the Pension helpline (02 2176 8700) and they said that changing pensions schemes is not a valid reason for giving out the lump sum refund any more. The law changed in 2006, apparently.

Whiteshoes, I am in the same position, so I am going to try and beat the system. I am planning to buy a one way ticket and take that in to the pension office and apply for my lump-sum refund there, sent to my Korean account. Then I'll change the ticket to a return. I'll go to Immigration and sort out my visa transfer to my new employer after I get back from my short vacation. Hopefully, I will satisfy the requirement of leaving the country, and when the pension office confirms this the refund will be released. By going to immigration after my return, there should be no way the Pension office will be made aware of my new visa. Maybe this will work? I already have a multiple reentry visa good until the end of my current E2, and I will return to Korea before it expires, so I hope I will have no issues with immigration at the the airport (but to be safe I always travel with a copy of my employment documents).

[zappadelta]