Korean Job Discussion Forums

[Mr. Kalgukshi]

This information is coming from a source that I completely trust.

From 1995 to 2000 he worked under contract for Korea University.

He is now at an age where he wants to apply for U.S. Social Security using credits earned for his 5 years in Korea under the Reciprocal Agreement in effect for both nations.

When he queried Korea University and the Korean National Pension Service neither one found any documents in their respective pension file folders.

In other words, even though he has a Korean pension number and had pension deductions taken out for five years, the deductions seem to have gone missing. His file shows zero credit for pension contributions.

This is having a very serious negative effect on his application for U.S. Social Security.

The Korean National Pension Service is now looking more thoroughly into the matter after complaints were filed with U.S. Senators and Congressmen along with the U.S. Social Security Administration and the Seoul Embassy.

The question still remains, though: What happened to 5 years of pension deductions while he was working under contract at Korea University?

Don't forget that under Korean NPS regulations, foreign employees have been under mandatory NPS coverage since 1995 when working at schools with 5 or more employees.

It may be a good idea to start checking your pension folders at your schools and determining what they include and don't include.

[caniff]

[ttompatz]

It might also be worthy to note that Korean Universities are NOT covered by or required to have employees enrolled in the NPS but they are required under the labor standard act ( http://www.moel.go.kr/english/topic/laborlaw_view.jsp?idx=254&tab=Standards (article 34)) or the Employee Retirement Benefit Security Act ( http://www.moel.go.kr/english/topic/laborlaw_view.jsp?idx=260&tab=Standards ) to be enrolled into a private pension plan which may require the beneficiary to know who the plan is held by/with and not assume it is the NPS.

If you go to ING to withdraw from your pension plan but your plan is held by AIS or Samsung then they may very well tell you that there is nothing in your file or that you do not have a file to look into (in spite of having a number).

.

[Mr. Kalgukshi]

He has a Korean National Pension number and files at both Korea University and the Korean National Pension Service. Unfortunately, they are empty.

Whatever the case, the Korean National Pension is looking into the matter along with Korea University.

Neither one at this point is able to explain where the contributions went and why their files are empty.

There is also potentially a dark side to this that will hopefully prove not to be the case.

[caniff]

Are you referring to the possibility of US citizens abroad being forced to "bail in" to help the sinking ship?

If so, I would have given that a year or so more based upon my own readings as they continue to kick the can down the road.

Hmmm....

[12ax7]

[EZE]

Can you tell me which US Congressmen are handling his issue? I'd like to contact the same ones independently about my own case of pension fraud, so it will give them some idea of the prevalence of this type of fraud against foreigners in the South Korean educational system.

[Mr. Kalgukshi]

He contacted his own Representative and the two U.S. Senators for his state.

[Swampfox10mm]

I wonder if it has anything to do with that running thread on the FB professors forum about dozens of schools getting caught illegally paying professors pension with tuition fees, and now schools must pay it back? Maybe they froze his money somehow? Some schools really messed up, and if memory serves, Yonsei was one of the worst offenders. KU may have been on that list, too.

[atwood]

[Weigookin74]

Time to go break some kneecaps....

[Stan Rogers]

Perhaps they switched over to the private pension plan, withdrew all the prior NPP contributions and paid it out to the teacher as his "severance pay."

[Swampfox10mm]

[Mr. Kalgukshi]

[EZE]