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Where is our severance now? How can we get a report?
« on: December 04, 2014, 08:45:32 pm »
I think it was a couple years ago they (GEPIK) decided to withhold the severance upon renewal and give it at the very end of your duration (the official termination of work contract). 

I used to it get every year with my renewal contract, so for example, September (which was my contract month) I'd get a huge pay day because I'd receive my regular monthly pay + 2m airfare + 2m severance so I'd be get 6m+ that month.

Starting in 2013, they told me they'd hold it and give it at the very end in one large lump sum.
So now that they've held 2013's and now 2014s, I'm just wondering, where can I see how much severance I'm owed at the end in case I forget, or lose track of when they started withholding it?   This dawned on me just now since today I received my NPS and I saw what I've accumulated up to thus far since I started back in 2010.  That reminded me of my severance and now want to know how much I have so far withheld so that I'll know how much I should receive when I leave.

Thanks


  • Korea13
  • Super Waygook

    • 494

    • May 29, 2013, 08:36:18 am
    • korea
Re: Where is our severance now? How can we get a report?
« Reply #1 on: December 04, 2014, 09:36:45 pm »
Severance is based on the last 3 months of your working contract. So whatever is your salary during those last 3 months, times that by the number of year you are own.

Example
2.4 millions won is salary and you are own 2 years of unpaid severance.

2.4x2=4.8 million won own to you. 4.8 mill will be tax and whatever is afterwill be your severance


Re: Where is our severance now? How can we get a report?
« Reply #2 on: December 04, 2014, 10:26:13 pm »
That's not what he is asking. I don't know the answer as I don't work for public schools but now your severance is calculated pro rata once you pass your first year.

So if you work for 18 months you get the equivalent of 18 months of severance. If you work for 36 months etc.

How to check out what you have accrued, I'm not sure. Maybe check with your coordinator.


  • taeyang
  • Moderator - LVL 4

    • 5508

    • September 08, 2010, 08:35:10 am
    • daejeon
Re: Where is our severance now? How can we get a report?
« Reply #3 on: December 04, 2014, 11:29:07 pm »
they started to properly enforce the rules back in 2012.

when I left korea this year, I received three years of severance (2011-2012, 2012-2013 and 2013-2014). it was calculated based on my last three months of work in my last contract.
use google to search the site

site:waygook.org XXXX

replace 'XXXX' with your search term


  • country09
  • Expert Waygook

    • 653

    • January 05, 2011, 10:04:21 am
Re: Where is our severance now? How can we get a report?
« Reply #4 on: December 05, 2014, 08:05:51 am »

 Simple math would be: (current salary/12 months) x total months worked since last severance was received.



  • mich6791
  • Veteran

    • 88

    • July 12, 2010, 09:53:34 am
    • Miryang, South Korea
Re: Where is our severance now? How can we get a report?
« Reply #5 on: December 05, 2014, 08:15:21 am »
Taeyang, was tax deducted from the lumpsum they paid you?


Re: Where is our severance now? How can we get a report?
« Reply #6 on: December 05, 2014, 08:45:46 am »
I think it was a couple years ago they (GEPIK) decided to withhold the severance upon renewal and give it at the very end of your duration (the official termination of work contract). 

I used to it get every year with my renewal contract, so for example, September (which was my contract month) I'd get a huge pay day because I'd receive my regular monthly pay + 2m airfare + 2m severance so I'd be get 6m+ that month.

Starting in 2013, they told me they'd hold it and give it at the very end in one large lump sum.
So now that they've held 2013's and now 2014s, I'm just wondering, where can I see how much severance I'm owed at the end in case I forget, or lose track of when they started withholding it?   This dawned on me just now since today I received my NPS and I saw what I've accumulated up to thus far since I started back in 2010.  That reminded me of my severance and now want to know how much I have so far withheld so that I'll know how much I should receive when I leave.

Thanks

You can get a print out of it. I was given one from one of the administrators last March when I re-signed, to show me how much severance I had accumulated over the last number of years. Ask your Co-T or if you can communicate well enough head down to 행정실. It should be pretty easy for them to let you know what you should be getting when you leave, or at least what you have accumulated up until last month.


  • Grimne_Lothos
  • Expert Waygook

    • 846

    • December 28, 2011, 12:56:27 pm
    • Buyeo, south korea
Re: Where is our severance now? How can we get a report?
« Reply #7 on: December 05, 2014, 09:19:11 am »
No they didn't.  They couldn't possibly have told you that since you haven't accrued anything and since the amount is calculated based on your salary at the time you leave the school which they couldn't possibly know now.


Re: Where is our severance now? How can we get a report?
« Reply #8 on: December 05, 2014, 10:56:38 am »
No they didn't.  They couldn't possibly have told you that since you haven't accrued anything and since the amount is calculated based on your salary at the time you leave the school which they couldn't possibly know now.

I shouldn't have used the word accrued. It was  a statement what I would have been entitled should I have left after my last contracted finished.