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alistaircandlin
Joined: 24 Sep 2004
Location: Seoul
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 Posted: Tue Aug 23, 2011 10:53 pm Post subject: UK Pension Agreement? |
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Hi,
I've read a few posts from time to time that mention getting a rebate on your pension payments when you finish a contract or leave the country.
Could anyone tell me where I might find more information on this, or if the rebate is available for British citizens?
Regards and thanks,
Alistair |
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morrisonhotel
Joined: 18 Jul 2009
Location: Gyeonggi-do
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| Posted: Tue Aug 23, 2011 11:01 pm Post subject: |
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| It's not available for British citizens. We can claim it back, apparently, in Korea at the age of retirement. It's not, as far as I'm aware, transferable either to back home. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Aug 23, 2011 11:44 pm Post subject: Re: UK Pension Agreement? |
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| alistaircandlin wrote: |
Hi,
I've read a few posts from time to time that mention getting a rebate on your pension payments when you finish a contract or leave the country.
Could anyone tell me where I might find more information on this, or if the rebate is available for British citizens?
Regards and thanks,
Alistair |
It depends on which pension plan you are in.
IF you are in the national pension plan then, as a Brit, you can't get a cash refund. Private pension plans from Universities are different.
Full details are available in the copy of the bilateral treaty on the NPS website: http://english.nps.or.kr/jsppage/english/main.jsp
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DeLaRed
Joined: 16 Oct 2008
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| Posted: Wed Aug 24, 2011 12:08 am Post subject: |
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probably wont see a penny of it back in the future.....but somebody has been trying to make a petition (845 signatures already)....might not make a difference...but...
UK Korea Pension
http://www.facebook.com/groups/189796034402386/ |
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oldtrafford
Joined: 12 Jan 2011
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| Posted: Wed Aug 24, 2011 1:43 am Post subject: |
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It depends on which pension plan you are in.
IF you are in the national pension plan then, as a Brit, you can't get a cash refund. Private pension plans from Universities are different.
Full details are available in the copy of the bilateral treaty on the NPS website: http://english.nps.or.kr/jsppage/english/main.jsp
Correct Tom, in my case I'm in the Civil Service pension plan. It's a pension plan for Civil Servants only, it has nothing to do with the national pension plan. As a result it has been building up nicely of a number of years. Once I finish working as a Civil Servant, the amount is paid directly into my account. Within a matter of days!!  |
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