Korean Job Discussion Forums

[rvintage]

How do I know that my hagwon is paying into the pension fund? Does this have to be specified in the contract?

Are the taxes that are taken out of my paycheck sent to a pension fund? I have about 4-5% taken out of my check for taxes(2.0 salary) This is high as I have read on this site that the income tax rate is somewhere aroung 2-3% or maybe just a little more.

What is the difference between income taxes and pension? From reading some threads it seems like the income tax is going into a pension fund? Is this correct?

I am an American citizen, any information would be greatly appreciated.

Also, if anyone knows where the pension fund office is in Daejeon that would also be greatly appreciated. I have found an address, but as I do not read Hangul, I am not sure if this address is the right office I want.

[Ya-ta Boy]

[denverdeath]

Here's the info for the three branches in Dae-juhn. Go to the one nearest you. "Dong" is East and "Buk" is North. From http://www.nps4u.or.kr/eng/enpc.html?code=./enpc/b04.html#8 :

�� Daejeon Regional Office
Zip Code : 302-713
Address : 4th Floor, Kukminyeongeum Daejeonhoegwan Bldg.(���ο��� ����ȸ��), 608 Tanbang-dong, Seo-gu, Daejeon
Phone No. : 042) 480-4834, 4925
Fax No. : 042) 472-6096
How to get there : From Commerce & Industry Council, go to the first Intersection towards Daejon Station and you can see our building on the left.


�� Dong-Daejeon Regional Office
Zip Code : 301-737
Address : 9th Floor, Sahagyeongeum Bldg.(���п���ȸ��), 188-15 Oryu-dong, Jung-gu, Daejeon
Phone No. : 042) 538-0141��3
Fax No. : 042) 527-7133
How to get there : We are at the corner of Oryu-dong Intersection.


�� Buk-Daejeon Regional Office
Zip Code : 306-824
Address : North-Taejon NPC (national pension corp) 122-1 ChungRi-Dong JoEun Clinic Building 4th. Daeduk-Gu Taejon
Phone No. : 042)670-1011��1015, 670-1021��1027, 670-1031��1035,
670-1041��1046
Fax No. : 042)637-5800��5801
How to get there : From DongBu express-bus terminal, take a bus toward ShinTanJin. (850, 851, 703) Take off at ChungRi-intersection station and walk toward ShinTan for about 100 meter. You will find 'JoEun clinic building' on your right hand side and we are at the 4th floor. (NPC North-Taejon Branch)

The main site has an English link:

http://www.nps4u.or.kr/eng/g-index.html

Yes, pension should be mentioned in your contract. If it's not stated in your contract, I'm not sure what you can do. Anyway, bring your alien registration card to the office and make an inquiry. If your boss has you registered and you and he have been contributing, the total up to now should be on file and you should be able to get a print-out. If they tell you that you are not on file, then it's your choice whether you want to pursue things further. I would recommend not letting them call your boss until you have spoken with him/her if they do tell you that you are not on record. Be aware that if you and your boss haven't been paying into it, you both will most likely be responsible for back payments. On 2 mil, you and your boss should each contribute about 90,000won monthly. Tax on 2 mil should be 28,950won(from "Check My Monthly Withholding Tax" link on http://www.nta.go.kr/menu/users/ntseng/Tax_Guide1.htm ).

[jacl]

You can just call the pension office with your ARC card number. They will tell you how much is in your account. Should be 9% of your monthly salary times the number of months you have been paid.

They speak English very well. Or well enough.

If there's nothing there, or not enough there, go to your boss and say, "Hey! What are you doing with MY money." And then keep checking and keep bugging.