Korean Job Discussion Forums

[Smithington]

Five years ago I collected my pension (for what it was) and I have accrued a new balance. However, I thought it was now much more difficult to get it paid out. Something about having to complete 120 months before being eligible for the payout? Does anyone have any updated information on this? It seems that it's not as easy to get the lump payment as before.

Are the years for which we previously received a pension payout still considered towards the 120 months? Or once a lump payment has been received, does the 'months worked' go back to zero?

I'm sure the answer to this question will be of interest to more than just myself.

Ttompatz?

[ttompatz]

The treaties with the 3 countries entitled to payouts have not changed and cannot be changed unilaterally by the NPS.

Payouts on departure are still possible.
Exit ticket, passport and ARC are required at the time of application.

I think it sounds like someone is talking about either a "private pension" (usually applies to uni staff) or getting vested into a pension plan andactually drawing a pension rather than a lump-sum payout.

.

[happiness]

Ive been collecting for near 10 years, is that the limit? Do I have to collect or suffer not getting it? Its a bit confusing. Thank you.