Korean Job Discussion Forums

[Yuma]

hi, I'm from the US, I'm already in Korea and looking for a job. I just got offered a job, the contract isn't perfect but it's fine. But there's no mention of pension withdrawal, so I assume they want to avoid paying their half. Which normally would be a problem, because that'd mean I couldn't get my contribution and their contribution back after the year is through.
But since maaaaaaaaybe I'll have to leave Korea after 8 months or so and won't finish my full one-year contract, I was thinking I might not be able to get it back anyway. Does anyone know, can you still get your pension money back if you don't finish the year contract? I would give notice and all of that if I did have to leave early. thanks for any ideas,

[prairieboy]

You can get the money back provided your employer has registered you properly and has paid the National Pension Corporation your portion and the company's matching portion.

It's not dependant on whether you complete the term of your contract or not.

So, if the employer pockets your deductions and doesn't pay his portion to the NPC, you'll get nothing. If he pays your portion but fails to pay his portion, you'll only get back your half of the contributions. Not much you can do about this if you aren't planning to stay in Korea.

Cheers

[Young FRANKenstein]