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shostahoosier
Joined: 14 Apr 2009
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 Posted: Wed Jul 11, 2012 5:48 pm Post subject: Question: Switching visas and getting pensions |
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If I switch from an E-series visa to a D-series to attend university in Korea, will I not be allowed to collect my pension as a lump sum.
I'm assuming that they only allow you to get your pension if you're leaving Korea. So would I have to surrender my ARC to get the pension?
Does this mean that it is either:
1) Give up arc to get the pension (then have to re-apply for for a new visa)
2) Switch visas (convenient) but pension money stays with the government for now. |
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Skippy
Joined: 18 Jan 2003
Location: Daejeon
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| Posted: Wed Jul 11, 2012 10:20 pm Post subject: |
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| I think you summed it up. Plus as a student I think you are exempt from paying pension. Just might have to wait a few more years to collect. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Jul 11, 2012 11:31 pm Post subject: Re: Question: Switching visas and getting pensions |
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| shostahoosier wrote: |
If I switch from an E-series visa to a D-series to attend university in Korea, will I not be allowed to collect my pension as a lump sum.
I'm assuming that they only allow you to get your pension if you're leaving Korea. So would I have to surrender my ARC to get the pension?
Does this mean that it is either:
1) Give up arc to get the pension (then have to re-apply for for a new visa)
2) Switch visas (convenient) but pension money stays with the government for now. |
IF you are talking about the NPS then you need to cancel your status in Korea and show an exit ticket.
Yes, that means returning on a new visa.
If you simply transfer your status then your NPS account stays open until you do leave.
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