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Gia3000

Joined: 22 Apr 2005 Location: Montreal, Canada
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Posted: Sat Jun 24, 2006 6:24 pm Post subject: Midnight Run & Pension |
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I am miserable here. I am homesick and my mental and physical health are deteriorating. I keep crying every day and I'm losing weight at an alarming rate (I wouldn't be surprised if some doctor diagnosed me with an eating disorder at this point).
I've been here for 6 and a half months. My contract states that I should give a 30 days notice if I quit. I just think that 30 days is too long and quite frankly I'm scared that my life will be hell during those 30 days. So, I'm thinking of running. I don't care if I don't get a letter of release or get blacklisted; I have no plans on ever coming back.
PENSION QUESTION: Can I go to the pension office and get them to wire transfer the pension money to my account in Canada? I've been told that I need to show them my flight info and pay stubs (I'm not 100% sure about the latter). Will the pension office check with the hagwan if I really quit or is the departure date on my flight ticket enough? I'd rather not lose 700,000 won (the money I put in). At this point, I don't even care about the other 700,000 won my hagwan put in but I'd feel bad losing the share I've put in. I know it's an all or nothing situation though.
I know they don't wire the money immediately. I'm just worried about whether or not they will call up my boss and ask if everything is ok on their end.
Any help is appreciated. |
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laogaiguk

Joined: 06 Dec 2005 Location: somewhere in Korea
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Posted: Sat Jun 24, 2006 6:34 pm Post subject: |
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I don't know your financial position, so I can't completely judge, but I would say forget about the pension. If you start looking into it and make requests to the pension office, I think they might call your employer for whatever reason. If you have been here only 6 months and I am guessing you will leave after your next pay check, you have put in about 40000 X 7 = 210000. Now double that with the employers contributions and it is about $500, which might or might not be worth the trouble of it.
Second, you might be able to do it from outside the country (I would guess there are ways) but I would not do it until you left (ie contact the pension office).
Finally, did you get a pension certificate from your employer (just to make sure you have even been paying the pension...)? |
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kprrok
Joined: 06 Apr 2004 Location: KC
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Posted: Sat Jun 24, 2006 7:24 pm Post subject: |
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laogaiguk wrote: |
...you have put in about 40000 X 7 = 210000. Now double that with the employers contributions and it is about $500, which might or might not be worth the trouble of it. |
Your numbers are a bit off here. Assuming a salary of 2.0 million, her pension payments would be 90,000 per month (180,0000 with her employer's half). That x 7 would be equal to about 1.100.000. That's a fair chunk of change to worry about. I'd want it back.
But your idea of contacting the pension office after they leave is correct. It's worth a shot. I would have a Korean friend call the pension and see what they say. If they don't need to check with the employer, go for it now.
KPRROK |
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laogaiguk

Joined: 06 Dec 2005 Location: somewhere in Korea
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Posted: Sat Jun 24, 2006 7:30 pm Post subject: |
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kprrok wrote: |
laogaiguk wrote: |
...you have put in about 40000 X 7 = 210000. Now double that with the employers contributions and it is about $500, which might or might not be worth the trouble of it. |
Your numbers are a bit off here. Assuming a salary of 2.0 million, her pension payments would be 90,000 per month (180,0000 with her employer's half). That x 7 would be equal to about 1.100.000. That's a fair chunk of change to worry about. I'd want it back.
But your idea of contacting the pension office after they leave is correct. It's worth a shot. I would have a Korean friend call the pension and see what they say. If they don't need to check with the employer, go for it now.
KPRROK |
You're right. Sorry. I somehow took what I paid and divided it by half thinking about employers contributions. People shouldn't ask for advice on a Sunday  |
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Gia3000

Joined: 22 Apr 2005 Location: Montreal, Canada
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Posted: Sat Jun 24, 2006 7:36 pm Post subject: |
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I make 2.2 million won. And I just checked, my pension is 98,550 won per month. I guess I'll have to find a Korean buddy. |
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Grotto

Joined: 21 Mar 2004
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Posted: Sat Jun 24, 2006 8:42 pm Post subject: |
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to get your pension you need your passport, a ticket out of the country and banking information for them to send the money to. Thats it! |
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cypher
Joined: 08 Nov 2003
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Posted: Sat Jun 24, 2006 10:48 pm Post subject: |
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You can also claim it when you get back to Canada, however it will take much longer. This is all assuming that your school has been paying it. |
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newinseoul

Joined: 22 Sep 2005 Location: Busan
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Posted: Sun Jun 25, 2006 6:05 am Post subject: |
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Sorry to hijack this threat but, does anyone know if there is a pension office in Kangnam area?
Gia, I hope it works out for you. If it is affecting your health and you can't possibly stay for another thirty days, then just bail. |
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46long
Joined: 23 Aug 2005
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Posted: Sun Jun 25, 2006 4:52 pm Post subject: |
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Grotto wrote: |
to get your pension you need your passport, a ticket out of the country and banking information for them to send the money to. Thats it! |
Grotto, just to clarify, pulling a runner would not affect her pension at all? Does anyone actually know if the pension office contacts the place of work? If so, does it matter? I've been wondering about this for a while. If you show up at the pension office the day before you pull the midnight run with a one way ticket and passport and bank info, are you golden?
Thanks |
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Gideon

Joined: 24 Feb 2004 Location: Seoul
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Posted: Sun Jun 25, 2006 5:29 pm Post subject: |
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I am sorry to hear about your situation. You dont seem to be enjoying korean life. Is it the job thats causing most of your problems? Perhaps finding another would help. Do you have any friends working here that can help you? Its always good to have someone you can relate to.
6 months is usually the breaking point where you know if you want to stay or go.
If you need someone to chat to, just pm me and leave your msn address and we can chat.
Although i dont know all the details but perhaps korean life isnt what you expected. |
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Demophobe

Joined: 17 May 2004
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Posted: Sun Jun 25, 2006 5:54 pm Post subject: |
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I am no authority on this, but it seems odd to think that you can do a runner and get your pension money. One would think there has to be some indication that your job is finished? |
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Hotpants
Joined: 27 Jan 2006
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Posted: Sun Jun 25, 2006 7:20 pm Post subject: |
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If you're going to do a midnight run - although, I'd recommend just hanging on with 30 days notice - then, I think you should cut your losses and forget about the pension. |
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ttompatz

Joined: 05 Sep 2005 Location: Kwangju, South Korea
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Posted: Sun Jun 25, 2006 7:29 pm Post subject: |
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Demophobe wrote: |
I am no authority on this, but it seems odd to think that you can do a runner and get your pension money. One would think there has to be some indication that your job is finished? |
Yup.... some indication is required... that is why you need to show your ONE-WAY ticket to your home country. (Proof that you are leaving and NOT returning).
If you don't return then you obviously are finished working here (at least in the eyes of the Pension office). |
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jacl
Joined: 31 Oct 2005
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Posted: Sun Jun 25, 2006 7:39 pm Post subject: |
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The pension office doesn't care. They aren't going to contact your boss. You'd best be calling them to find out if there's any money in your account in the first place. |
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Big Mac
Joined: 17 Sep 2005
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Posted: Sun Jun 25, 2006 8:34 pm Post subject: |
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cypher wrote: |
You can also claim it when you get back to Canada, however it will take much longer. This is all assuming that your school has been paying it. |
Much longer is an understatement. I applied in December 2005 through HRDC and they told me they won't even be looking at my application until January 2007. Don't go this route! |
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