Korean Job Discussion Forums

[xsamanthakx]

Ok, so I'm thinking maybe this has been asked many times before, but I can't seem to find what I'm looking for. I got to Korea about 3 months ago and I've been paying 80,000 won per month into the national pension scheme. Now, without meaning to sound like a complete child...its not fair that I won't get any of it back!!! All of my co-workers from Canada and the US will get their contributions and our employers...and I'll get nothing! Does anyone know if I HAVE to pay it? Or have any of you managed to get it back? I know that it has something to do with the social security agreements between the 2 countries, and when I contacted my tax office back home in the UK, they told me there was an agreement...but thats where the information stopped! They were really unhelpful...shocking. And on the National Pension Scheme website, theres no mention of a lump sum refund being avaliable for Brits. So, I'm going on abit now I know, but I'd be sooooo grateful if anyone has ANY infomation about this...like, maybe getting a discount on the payments??? Wishful thinking I know!! Thankyou!

[BigBuds]

Yes, you do have to pay into it.

For you Brits, you are unable to get a lump sum payment like the Americans and Canadians but you do get it back. It is transfered into your British pension account and you won't see it till you retire.