Korean Job Discussion Forums

[rococobean]

So I'm kind of wondering about the pension refund? What happens if you don't plan on leaving Korea long-term, ever?

I joined pension at my previous school because, as it was explained to me, that was "the way things are done".

In all honesty I didn't fully understand what this was and thought you just collect your pension after ending the contract with a school (like a retirement I guess). I was going to go claim mine later this week but, today I'm searching on the internet and see that people said you can only collect the money once you're in another country?

Personally I plan on being in Korea long-term. By long-term I mean forever. My Korean boyfriend and I plan on getting married either next year or 2015 at the latest and I want to eventually (once my Korean skill is high enough) go for the duel citizenship exam - but what if that doesn't work out and I'm just always here on a Visa of some sort?

Does this mean I paid into something I'm never going to see any money from? Should I opt for not having pension at my next job?

[MoneyMike]

Yeah, you can only get the pension if you're leaving. It seems rather easy to game though.

Buy a ticket to another country, let your E2 visa expire, collect your pension, come back after a month or 2 of traveling and find another job.

If you don't end up collecting the cash you put in, you'll get a pension when you turn a certain age. My pension statements say that if I continue contributing the same amount I have been, I'll get like 750k a month, I forget what age that starts at though.

I'm not sure how getting married to a Korean might affect this though. (In that I don't know if you can still withdraw your contributions)

[valkerie]

<blog ad deleted> has had 2 good articles on pensions. I noticed another on refunds is coming up, so maybe that will help.