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Severance Pay

 
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bigclanger3



Joined: 25 Mar 2009

PostPosted: Tue Jul 19, 2011 9:26 pm    Post subject: Severance Pay Reply with quote

Sorry to you old timers, I know you'll have seen this hundreds of times before. I know I have but now when I come to search for the info it seems elusive.
If you wanna link me to old threads I'd appreciate it.

Anyway, the nub of my problem is this - I'm due to leave after 2 years of service at a public school. As I understand it, along with my final pay cheque (payable on 24th of August) I'll also receive 2 months salary as a contract completion bonus (one for each year of my contract). I'm not eligible to get any pension cos I'm a Brit. All of that seems to be in order.
My issue is that the school is telling me they can ONLY pay in to my Korean account which is hugely inconvenient. They tell me they cannot pay into my UK account even if I provide them with the IBAN (International Bank AccountNumber)

This seems like...a lie!

Anyone able to shed some light on this for me?
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cincynate



Joined: 07 Jul 2009
Location: Jeju-do, South Korea

PostPosted: Tue Jul 19, 2011 9:29 pm    Post subject: Reply with quote

Set up a remittance account at KEB. Any money sent to that account goes directly to your account in the UK. Its easy and free (to setup not to transfer). Give that account number to your school. Likewise if you have a nonghyup account, you can do transfers online. Shouldn't be to difficult for you.
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Feah



Joined: 26 Nov 2008

PostPosted: Tue Jul 19, 2011 9:36 pm    Post subject: Reply with quote

I've heard this before and it's been done to me once before too.
There are some schools that understand it's inconvenient and will give it along with your last pay cheque.

Some schools however, like it sounds in your case, will give you your severance pay cheques separate from your final pay cheques.

For example, you might get your last pay cheque on the 24th of your last working month, your severance pay may come into the account one month later.

If you can, try to convince them to give it all at once, if not, do as Cincynate says.

Goodluck dude!
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