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Kim Jong Jordan
Joined: 13 Mar 2004
Location: The Internet
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 Posted: Thu May 24, 2007 8:00 pm Post subject: Did Pension Contributions Shrink? |
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| I got a 300 000 won raise but my pension contributions went down 30 000 won. Is that correct? I thought that I'd be paying more into the system? |
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Kim Jong Jordan
Joined: 13 Mar 2004
Location: The Internet
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| Posted: Thu May 24, 2007 9:25 pm Post subject: |
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| Anybody? |
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kprrok
Joined: 06 Apr 2004
Location: KC
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| Posted: Thu May 24, 2007 9:30 pm Post subject: |
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I got a good raise and my contribution went up accordingly. Sounds like a mistake on your school's part.
KPRROK |
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JD1982
Joined: 19 Apr 2007
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| Posted: Thu May 24, 2007 9:32 pm Post subject: Re: Did Pension Contributions Shrink? |
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| Kim Jong Jordan wrote: |
| I got a 300 000 won raise but my pension contributions went down 30 000 won. Is that correct? I thought that I'd be paying more into the system? |
Obviously, someone at accounting had made a mistake. You should pay more as your portion of pension contribution is fixed at 4.5% of your salary. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri May 25, 2007 1:16 am Post subject: Re: Did Pension Contributions Shrink? |
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| Kim Jong Jordan wrote: |
| I got a 300 000 won raise but my pension contributions went down 30 000 won. Is that correct? I thought that I'd be paying more into the system? |
They changed the way the contributions are calculated. They are no longer bracketed and this has made some changes in the amount of contributions.
I am not saying there is not a mistake (with the changes it is very possible - even probable) but there were changes in the calculations and the amount of contributions for most us would have fallen a bit. |
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