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lulu144
Joined: 31 Aug 2006
Location: Gwangju!
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 Posted: Sun Feb 11, 2007 8:23 pm Post subject: changing jobs in korea... should i collect my pension now? |
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okay so I think I'm changing jobs in korea in hopes of a better life etc and now the real headache begins... ir visa runs... LORS etc..
but here's another question....
If I get a new job does that pension payment get put into the same pension account?? or should I just collect the pension that I've earned from this job and then start collecting agin with the new job??
thanks so much!
Laurel |
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Rockwell Bergstrom
Joined: 21 Jul 2006
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| Posted: Mon Feb 12, 2007 12:11 am Post subject: |
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| I would take it out and put it in an index fund back home. |
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BigBuds
Joined: 15 Sep 2005
Location: Changwon
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| Posted: Mon Feb 12, 2007 1:05 am Post subject: |
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If you're changing jobs you can't take it out, it will just continue on with your new job with the same pension account.
You can only take it out if you're leaving Korea and not coming back for employment purposes for a minimum of 3 months.
If you take it out now, and they actually let you, as soon as you sign up for it again (if it within 3 months), they will ask for all of your previous pension money back. |
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Young FRANKenstein
Joined: 02 Oct 2006
Location: Castle Frankenstein (that's FRONKensteen)
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| Posted: Tue Feb 13, 2007 1:11 am Post subject: Re: changing jobs in korea... should i collect my pension no |
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| lulu144 wrote: |
| If I get a new job does that pension payment get put into the same pension account?? |
1- you can't take the money put unless you are leaving Korea permanently
2- as long as you use the same number on your new ARC, the pension money will go into the same account
3- the exception to (1) is if you start a job that has a PRIVATE pension, in which case you are allowed to take out the money from your NATIONAL pension |
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