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Korean Job Discussion Forums
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Neo
Joined: 09 Oct 2006
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 Posted: Fri Dec 08, 2006 4:43 am Post subject: private pension plans - a call to Alabamaman and others |
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Article 30 (Restriction on Dismissal, etc.)
(1) An employer shall not dismiss, lay off, suspend, transfer a worker, or reduce wages, or take other punitive measures against a worker without justifiable reason.
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In such case, any party can reject the settlement order within 2 weeks of receiving the written notice of the court's settlement order. However, if neither party files their objection within the 2-week period, the court's order becomes final. It is then entered into court records as the final decision in the case. If any party rejects the settlement order, the mediation is dissolved and litigation resumes. |
This looks like a large tract of Korean law translated. That�s very impressive. Can you help me out with my private pension plan?
It�s a long and tortuous story, of course, but I�ll try to keep it simple:
The private university that I work for asked me to sign up for their private pension plan some time ago. The university has been taking money directly from my pay every month, and matching it in their private fund. My understanding is that this stands in lieu of national pension contributions and severance pay, although I�ve seen a lot of debate about this on this forum.
When I was asked to sign up, I was shown a document in Korean and told to sign. Not being able to read Korean at a glance, I was given a translation. I was told that I was agreeing to let the university collect my previous national pension contributions, as well as to letting the university take further contributions from my pay, and that all these would be returned to me when I leave. I signed (alright � dumbass, etc�) I expected to get a copy, which I didn't.
Now, I am about to leave. I went to see the university pension people. First thing, they denied any knowledge of any such document, or of my national pension contributions. They claim that they did not need any consent from me, but are entitled to take money from my pay simply because I work at that university. Sounds plausible, but I heard from reliable others (now gone) that they did not join the university�s private plan, but kept their national pension plans.
Anyone know about this aspect of private pension plans?
Secondly, and more importantly, the university pension people told me that they will not process my application for reimbursement of my private pension money until they get an endorsement from someone at the university who is �in charge of the foreigners�.
For reasons not worth explaining here, and not unrelated to my leaving, my relationship with this someone is not good. She has explicitly said that she will not endorse my refund document, and I will not get my money. It seems straightforward to me that it is my money and must be returned, but � you never know. Any law around private pension plans that allows employers to keep the money, under any circumstances?
I don�t want to wait until some time after I definitely haven�t got my money and then start a labor court thing.
Anyone know of a good lawyer for this kind of thing? |
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ChuckECheese
Joined: 20 Jul 2006
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| Posted: Fri Dec 08, 2006 6:37 am Post subject: |
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Sorry dude.
Can't give you advice since you don't even know what you signed and we don't know either.
All we know is that you signed something allowing them to rip you off on your pension.  |
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canukteacher
Joined: 21 Jan 2003
Location: Seoul, Korea
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| Posted: Fri Dec 08, 2006 2:20 pm Post subject: |
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This is my experience. I went from the National Plan to a Private Plan. I was able to collect my national pension plan without a problem. It took less than 3 weeks for them to process the refund. If I were you I would contact the National Pension Plan office in your area and see what happened to your pension contributions. I find it hard to believe that your university could have applied for the refund. Then again, anything is possible here. If the national pension people have records that your national pension plan contributions were in fact paid out to your university there is your proof.
As far as your university keeping your pension...................they might try, and they might make it difficult but in the end you should get your money. Put down all of this in writing and get to the Labour Board. I hope you are documenting all of this.
Good luck! |
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