Korean Job Discussion Forums

[cfedora]

I recently went to the pension office with a friend who was leaving the following day, in order to get the pension information straightened out. While we were there, the woman, in limited English, said something about having a choice of where we would like the pension to be sent. She said that they could send a check to Canada, or deposit it into the person's Canadian bank account. The other option was to have it deposited into the person's Korean bank account. This last option, according to the woman, would only take 3 days! I want to know if anyone has done this or not. I finish my contract and am not scheduled to leave for 5 days after that. Could I possibly get my money before I get back to Canada in a few months?

[alphalfa]

Yes, you can get your pension money before you leave.
Last Nov (206) I went to a pension office nearest my work
(in Guwol-dong, Incheon) to ask about my pension. I brought
with me a outbound plane ticket, my passport, a statement of
earnings from my employer(stamped with their seal), info about
my Korean bank account and my Canada address, and ARC card.

The nice lady at the pension office made a telephone call to
my employer to verify the earnings statement. She did some quick
calculations on the computer and told me right away I would be
receiving my pension the same day!(in the afternoon). It would be
deposited into my Korean account - my choice of method.

I left the pension office with a pension statement indicating the amount that would be deposited AND the amount of my November pension contributions (to be sent to me at my address in Canada in Jan 2007)
The complete processing time to do this , in person at the pension office,
was minimal. I left the pension office completely satisfied- I had no idea I would receive such a large amount(total-around 4 mil won). About ten days ago(early Jan 2007), I received a cheque from the pension office sent to me here in Canada by courier!

Just be sure to have an earnings statement from your employer. I took the initiative and got one about one week BEFORE I finished my job. I
got all my paperwork together ahead of time to avoid any last minute
screwups. It worked out fine. Good luck.

alphalfa

[cfedora]

thank you very much, that was really helpful. I hope that helps some others on here too.