Korean Job Discussion Forums

Pyongshin Sangja · Joined: 20 Apr 2003 Location: I love baby!

I know there is a thread on this, but I am not one for saving cash and I will need all I can get seeing as the base pay at my new job is carp. If so, how did you go about getting out of it and on what basis? Anyone?

Squaffy · Joined: 25 Feb 2003 Location: All over the place

your pension contributions are re-fundable when you leave - are you as naieve as I think you are?

Pyongshin Sangja · Joined: 20 Apr 2003 Location: I love baby!

Well maybe. I know they are refundable. I don't want the money later, I want it now. for one thing I don't really trust Korean "deposits" and that kind of thing, the other thing is that the base pay at my new job sucks.

The Lemon · Joined: 11 Jan 2003

PS is right to be concerned about the pension payout. It depends on the university, but some universities use the pension payout as substitution for the severance pay, even though the words "severance pay" are written explicitly and misleadingly in the contract. In effect, you're contributing towards your own severance - again, depending on the university.

kimcheeking · Guest

The Lemon · Joined: 11 Jan 2003

Pyongshin Sangja · Joined: 20 Apr 2003 Location: I love baby!

Well, I have had several friends that have worked at the same place and have never been screwed over. But, I am not worried about that. I JUST DON"T WANNA PAY IT. Interesting, but not surprising, that Korea manages to put a new sleazy loophole in this one, too.
I am not retiring in Korea. I think. Has anyone ever had any luck in this regard? I am merely looking for strategies to use on the higher ups. Any takers?

rudyflyer · Joined: 26 Feb 2003 Location: pacing the cage

I don't like this loophole either but in a few years severance will be gone and pension schemes like US Social Security will be norm (think it will be fully online in 2007)

If the school is doing right (and evey univ I've been at and thats 5 now) you should have no problem getting your money back. Yeah it stinks the way they are dodging the severance pay but think of it as forced savings. Hate to say this even at most of y'alls ages (20's-early 30's) you need to think about long term savings and this is a good wat to start

Ryst Helmut · Posted: Sat May 24, 2003 12:02 am Post subject: Forced Savings?

Rudy,

This isn't forced savings, as I do much more with my dosh. I have about 12 million won coming to me if I were to leave today....don't you think I can do better with that in my home country's investment opportunity than sitting in a bank making interest for my cheeky univ.?

Not paying severence is a scam....even at 2% interest on my 150,000 or so a month ain't nowhere close to a month's salary. Not to mention that if I were to re-sign (assuming I'd get a severence package) for 10 years straight, I'd still only get paid for one severence check. Same with the airfare... schwinehunds, I say, schwinehunds.

So, what's up with 5 different universities? How were they different regarding pension/airfare/severence?

Curious.

Shoosh,

Ryst

rudyflyer · Joined: 26 Feb 2003 Location: pacing the cage

regarding the 5 univ. remember this is my 3rd tour here (mid 96-end 97, 99-01 and last year) so we had to start over at new schools. This is our 2nd yeat at our present univ and we'll likely do a 3rd year if all goes well.

Pension has never been a problem. One place we got it before we left, the other places it has taken a couple of weeks to a month to get our money back. Airfares are becoming problematic many univs aren't doing airfare anymore, this univ doesn't do airfare, one place we got a million won for 2 of us out of them and the others have deposited return money before we left.

Does anybody at a univ now get severance? I think for most of us its this pension scheme now

Slinky · Joined: 01 Mar 2003

When having a dig at someone for sounding naive maybe it could be spelt correctly before it entices another user to have a little dig back about an English teacher (sorry, is this presumptuous?) needing some spelling help! Just a suggestion...

The Lemon · Joined: 11 Jan 2003

Hi Slinky: most of us on the board have seen this movie before, and we don't like how it ends - it never does end. We don't go there. We went there once already.

This post, from the new board's early days back in January, stands as a testament to why nitpicking about spelling is frowned upon around here.

Oh- by the way - welcome to the boards!

Slinky · Joined: 01 Mar 2003

....or should that be hee hee hee hee? Thanks Lemon! Just had a wee giggle about those January posts... I don't hang around scouting for someone's typos or spelling mistakes but it just gets me a little wound up when someone has a little dig at someone else who has reasonable questions on these boards when he/she has his/her own little foibles that he/she could be working on to improve instead! Here on the boards, I'm just making a point about maybe trying not to be rude to newbies. We're meant to be helping fellow teachers! I just thought Squaffy could perhaps instead spend some time reading a dictionary instead of making sly comments... That's all! Byeeeeeeee

Squaffy · Joined: 25 Feb 2003 Location: All over the place

Did someone mention my name?

My fan club is enlarging.

Excuse my bad sperling.

Naive in my Oxford dictionary too. 'Scuse the previous typo - but was it worth pointing out? Hope you feel better for it. I didn't lose any sleep over it. Seems it riled you eh?

*mental note - must make more sperling errors so slinky can point them out*

Slinky · Joined: 01 Mar 2003

You missed my point about what riled me! Ah well. Comprehension skills need brushing up on too! Bless.