Korean Job Discussion Forums

rhinocharge64 · Joined: 20 Sep 2006

Iam currently working for the govt. here in Korea on an E-7 visa, and I am specifically a public officer, hence the reason for the E-7 visa. From reading previous threads, I understand that I am not entitled to a penny of my contributions, if, and when I leave Korea. However, my boss is adamant that I will receieve my contributions because "...all public officers do". I've asked him to look into this for me, and I also said I would do the same. So, could anybody give me any clarification on this matter. I'm convinced despite being a public officer it will have no bearing on me receieveing a penny due to the Korean, and British governments agreement. If this is the case, can I opt out of the payment plan, I'm currently contributing 170,000 Won per month. Obviously, I could make use of the Won, and use that to contribute to my own pension plan.

Thanks to all in advance-The Charge

butlerian · Joined: 04 Sep 2006 Location: Korea

From what I've read, we're not entitled to receive the money until we retire.

rhinocharge64 · Joined: 20 Sep 2006

Yes, that's my understanding fella. Do you know if we can opt out of the pension plan, or is it mandatory?

Maz · Joined: 20 Jul 2006

I believe when you leave Korea, you can transfer the money into a UK pension plan... This agreement was made quite recently, I think.

BigBuds · Joined: 15 Sep 2005 Location: Changwon

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

mrsquirrel · Joined: 13 Dec 2006

So once I leave here I go and tell them that I'm off and they transfer the money to my UK NI contributions or I just get a bit of paper saying how much I have contributed and have to show that to the UK tax/NI office?

Anybody ever done it?

It's nice to know that I can be contributing towards a state pension and health care whilst overseas.