Site Search:
 
Speak Korean Now!
Teach English Abroad and Get Paid to see the World!
Korean Job Discussion Forums Forum Index Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

More about pensions

 
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> Job-related Discussion Forum
View previous topic :: View next topic  
Author Message
jadles



Joined: 09 Mar 2006
PostPosted: Sun Sep 03, 2006 9:08 pm    Post subject: More about pensions Reply with quote
Hi,

I've been searching the forums to find out how much I should be paying for my pension.

I found this website which said that I should pay 4.5% and my employer should also pay 4.5%. Is this right?

http://wiki.galbijim.com/Korean_pension_plan#Pension_status_for_citizens_of_Australia.2C_New_Zealand.2C_and_South_Africa.

Also Im not sure what to do because I asked my employer about my pay and he said that he was only going to tell the tax office I am earning 1.9mil so then I guess I should only be paying 4.5% of 1.9mil rather than the 2.4mil I'm actually earning?

Help!
Back to top
View user's profile Send private message
ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea
PostPosted: Sun Sep 03, 2006 10:14 pm    Post subject: Re: More about pensions Reply with quote
jadles wrote:
Hi,

I've been searching the forums to find out how much I should be paying for my pension.

I found this website which said that I should pay 4.5% and my employer should also pay 4.5%. Is this right?

http://wiki.galbijim.com/Korean_pension_plan#Pension_status_for_citizens_of_Australia.2C_New_Zealand.2C_and_South_Africa.

Also Im not sure what to do because I asked my employer about my pay and he said that he was only going to tell the tax office I am earning 1.9mil so then I guess I should only be paying 4.5% of 1.9mil rather than the 2.4mil I'm actually earning?

Help!


Your boss is a cheat. He is under-declaring your income to beat the tax man and pay less for his contribution to your pension.

You save about w60,000 on taxes over the year and you lose about w270,000 from your employers contribution to your pension.

w200,000 of your money in his pocket.

That also doesn't take into consideration the fact that if you get caught you get busted for unpaid taxes on w6 mil of undeclared income.

Lucky you.
Back to top
View user's profile Send private message Send e-mail
Display posts from previous:   
Post new topic   Reply to topic    Korean Job Discussion Forums Forum Index -> Job-related Discussion Forum All times are GMT - 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


This page is maintained by the one and only Dave Sperling.
Contact Dave's ESL Cafe
Copyright © 2018 Dave Sperling. All Rights Reserved.

Powered by phpBB © 2001, 2002 phpBB Group
TEFL International Supports Dave's ESL Cafe
TEFL Courses, TESOL Course, English Teaching Jobs - TEFL International