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Refund after five months

 
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david



Joined: 31 Oct 2003

PostPosted: Thu Jul 26, 2012 9:43 am    Post subject: Refund after five months Reply with quote

I am an American who has worked in Korea for a number of years. I worked in a Masan PS three years ago and did receive my pension refund.

I work in Ansan at the moment and have made five 94,000 payments.
How do I get my refund before leaving the country?
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Porksta



Joined: 05 May 2011

PostPosted: Thu Jul 26, 2012 12:44 pm    Post subject: Reply with quote

Take proof of your leave from Korea (ticket or receipt or the like) that shows the date you are leaving to the pension office. Give them the proof and the account information you want the money transferred to. You are done.
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ThingsComeAround



Joined: 07 Nov 2008

PostPosted: Thu Jul 26, 2012 1:37 pm    Post subject: Reply with quote

First, you must visit the pension office before leaving Korea. As Porksta said, you have to bring proof you are leaving, also your bank account info/routing number (routing if you want the money deposited directly into your home account). The money you paid in Masan should still be there. Good luck
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david



Joined: 31 Oct 2003

PostPosted: Fri Jul 27, 2012 1:36 pm    Post subject: Reply with quote

Things come Around:

I may not have made myself as clear as I thought. I received my pension from the PS in Masan a few months after returning home to The United States. The PS sent it to the American bank account I specified.

I was unsure of two things:

Five months isn't twelve months and rules sometimes don't seem to make sense. I was worried that I wouldn't receive the pension because my stay wasn't at least twelve months.

I need the money quickly because I'm buying my own airplane ticket. Is it possible to get my refund w/o waiting two or three months.

Thank you for your input.
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ThingsComeAround



Joined: 07 Nov 2008

PostPosted: Fri Jul 27, 2012 2:17 pm    Post subject: Re: Refund after five months Reply with quote

david wrote:
I am an American who has worked in Korea for a number of years. I worked in a Masan PS three years ago and did receive my pension refund.

I work in Ansan at the moment and have made five 94,000 payments.
How do I get my refund before leaving the country?


Sorry I missed this important tidbit. When reading earlier I was extremely tired. Since you are leaving early, I am not sure if you can get the pension. It would barely scratch 1000 bucks but you can try.

About waiting, unfortunately this is part of the game. You must wait and they check to see if you are outside the country before paying you.
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Fri Jul 27, 2012 2:28 pm    Post subject: Reply with quote

david wrote:
I was unsure of two things:

Five months isn't twelve months and rules sometimes don't seem to make sense. I was worried that I wouldn't receive the pension because my stay wasn't at least twelve months.

I need the money quickly because I'm buying my own airplane ticket. Is it possible to get my refund w/o waiting two or three months.

Thank you for your input.


A) makes no difference when it comes to the NPS.

B) Yes, if your employer has signed off on it you can get it at the airport (ICN). Details on the NPS website:
http://english.nps.or.kr/jsppage/english/scheme/scheme_04.jsp .
Scroll down to: AIRPORT PAYMENT SERVICE OF LUM-SUM REFUND FOR FOREIGNER.

Otherwise you are waiting a month or 2 and the procedure is the same as before.

.
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