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kangnabi
Joined: 10 Jun 2012
Location: Seoul
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 Posted: Wed Jul 31, 2013 8:11 am Post subject: Getting Pension, but returning to Korea |
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I am going to give up my visa status. I'm currently on D-10visa and I was searching for an E-2 visa sponsor but came up a little empty handed. Now I'm going to do the visa run to japan (actually a lil vaycay) and return to korea on a Tourist Visa status...
My full pension is sitting in my pension account and has been for 2 years now. When I go to Japan, I'd like to start the process of my pension being sent back to American bank accnt, since I will no longer be on a Visa or able to accumulate any more pension as of now.
Is this plausable? If I show the Pension Office my flight ticket to Japan, even if it has a return date...?
OR ~ Should I just call the pension office after I return back to Korea as a Tourist and pretend I'm not in Korea? hmmmm even though that sounds a little silly~
Any advice would be very much appreciated! Thank you !  |
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tob55
Joined: 29 Apr 2007
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| Posted: Wed Jul 31, 2013 12:54 pm Post subject: Re: Getting Pension, but returning to Korea |
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| kangnabi wrote: |
I am going to give up my visa status. I'm currently on D-10visa and I was searching for an E-2 visa sponsor but came up a little empty handed. Now I'm going to do the visa run to japan (actually a lil vaycay) and return to korea on a Tourist Visa status...
My full pension is sitting in my pension account and has been for 2 years now. When I go to Japan, I'd like to start the process of my pension being sent back to American bank accnt, since I will no longer be on a Visa or able to accumulate any more pension as of now.
Is this plausable? If I show the Pension Office my flight ticket to Japan, even if it has a return date...?
OR ~ Should I just call the pension office after I return back to Korea as a Tourist and pretend I'm not in Korea? hmmmm even though that sounds a little silly~
Any advice would be very much appreciated! Thank you ! |
Well, there are likely to be many answers, but the things which sticks out to me concerning your situation is that the people at NPS will want to see your ARC when you visit them to make request for your pension to be released. I am sure you know the number, but they will want to know when your status as an E2 visa holder ends. They will also want to see a return trip ticket to somewhere outside of Korea, along with other information for processing your pension payment to your bank in America.
I suggest just go ahead and be the "tourist" for the time you want to be, then make application to have your pension sent back to your home country bank. (I don't think they allow you to apply for your pension when "out of the country," but they want to have people apply in person) This will save you a lot of hassle with the NPS, and at least you know the money will be released to you, but the time for processing is not always the fastest. BE SURE to remember your ARC number as they need this to locate you in their system. Hope this helps a little.  |
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kangnabi
Joined: 10 Jun 2012
Location: Seoul
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| Posted: Wed Jul 31, 2013 1:18 pm Post subject: Re: Getting Pension, but returning to Korea |
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| tob55 wrote: |
| kangnabi wrote: |
I am going to give up my visa status. I'm currently on D-10visa and I was searching for an E-2 visa sponsor but came up a little empty handed. Now I'm going to do the visa run to japan (actually a lil vaycay) and return to korea on a Tourist Visa status...
My full pension is sitting in my pension account and has been for 2 years now. When I go to Japan, I'd like to start the process of my pension being sent back to American bank accnt, since I will no longer be on a Visa or able to accumulate any more pension as of now.
Is this plausable? If I show the Pension Office my flight ticket to Japan, even if it has a return date...?
OR ~ Should I just call the pension office after I return back to Korea as a Tourist and pretend I'm not in Korea? hmmmm even though that sounds a little silly~
Any advice would be very much appreciated! Thank you ! |
Well, there are likely to be many answers, but the things which sticks out to me concerning your situation is that the people at NPS will want to see your ARC when you visit them to make request for your pension to be released. I am sure you know the number, but they will want to know when your status as an E2 visa holder ends. They will also want to see a return trip ticket to somewhere outside of Korea, along with other information for processing your pension payment to your bank in America.
I suggest just go ahead and be the "tourist" for the time you want to be, then make application to have your pension sent back to your home country bank. (I don't think they allow you to apply for your pension when "out of the country," but they want to have people apply in person) This will save you a lot of hassle with the NPS, and at least you know the money will be released to you, but the time for processing is not always the fastest. BE SURE to remember your ARC number as they need this to locate you in their system. Hope this helps a little. |
I think when I go to Japan and return without a proper visa, they will take my ARC card at the airport (?) Does this sound right? I got my # memorized 
One thing... I don't know how long I will be a "tourist" . Since I'm not on a visa I'd assume they could release my pension to my American accnt? I read about the Overseas Remittance Form where I apply to have my pension sent overseas after I have left the country.
Or I could seriously buy a ticket one way to Japan and one way back separately... not sure how much that will cost. |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Thu Aug 01, 2013 8:14 am Post subject: Re: Getting Pension, but returning to Korea |
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| kangnabi wrote: |
I am going to give up my visa status. I'm currently on D-10visa and I was searching for an E-2 visa sponsor but came up a little empty handed. Now I'm going to do the visa run to japan (actually a lil vaycay) and return to korea on a Tourist Visa status...
My full pension is sitting in my pension account and has been for 2 years now. When I go to Japan, I'd like to start the process of my pension being sent back to American bank accnt, since I will no longer be on a Visa or able to accumulate any more pension as of now.
Is this plausable? If I show the Pension Office my flight ticket to Japan, even if it has a return date...?
OR ~ Should I just call the pension office after I return back to Korea as a Tourist and pretend I'm not in Korea? hmmmm even though that sounds a little silly~
Any advice would be very much appreciated! Thank you ! |
The Pension Office will only forward the money to your bank account if you are out of Korea at the time they are ready to send the money.
After you apply for your pension refund, the Pension Office can take several weeks, up to a month or so, to process your refund. When your refund is ready to be paid out they will check your status with Immigration to make sure that you have left Korea and that you have not returned. If they find that you have not left, or that you have returned and are back in Korea when they check, they will hold your payment. You will then have to reapply and exit from Korea again if you want the refund. |
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YTMND
Joined: 16 Jan 2012
Location: You're the man now dog!!
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| Posted: Thu Aug 01, 2013 8:33 am Post subject: |
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| I am going to give up my visa status. I'm currently on D-10visa and I was searching for an E-2 visa sponsor but came up a little empty handed. |
What does this mean? How long have you been on a D-10? What is your final goal/objective?
| Quote: |
| Is this plausable? If I show the Pension Office my flight ticket to Japan, even if it has a return date...? |
Of course. Returning to Korea on a tourist visa doesn't mean you will work. Your pension benefits are a reflection of the work you did in Korea, not the tourist sights you went to.
I got pension benefits and returned to Korea on a tourist visa, why shouldn't you?
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| The Pension Office will only forward the money to your bank account if you are out of Korea at the time they are ready to send the money. |
That is ESL biblical rhetoric for those who are on an E2 visa. If you are on a tourist visa, you ALREADY have to show a return flight. The goal posts change.
Your pension funds should have no bearing on your tourist visa status. Isn't that ironic? Pension is money for when you aren't working, but they won't give it to you when you aren't working?
Why should they assume every person on a tourist visa is seeking employment? Retired folk can't come to Korea on a tourist visa and use their pension money?
Think about it folks. |
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byrddogs
Joined: 19 Jun 2009
Location: Shanghai
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| Posted: Thu Aug 01, 2013 4:52 pm Post subject: Re: Getting Pension, but returning to Korea |
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| kangnabi wrote: |
| Or I could seriously buy a ticket one way to Japan and one way back separately... not sure how much that will cost. |
Or, you could just conveniently chop that return part off of your itinerary. |
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