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  • lshaugh
  • Adventurer

    • 37

    • December 18, 2013, 12:56:51 am
    • Canada
Collecting Pension
« on: December 05, 2014, 02:33:30 pm »
Hey all,

So I am currently on Jeju and will be completing a contract with EPIK, and moving to work in a Seoul hagwon. I am curious whether I am to collect my pension refund in Jeju before moving to Seoul, then another year's pension refund after one year in Seoul, or collect both years' refunds after I am finished in Korea altogether (March 2016).

  • nzer-in-gyeongnam
  • Moderator - LVL 3

    • 782

    • August 07, 2010, 01:23:29 pm
    • Gyeongnam-do
Re: Collecting Pension
« Reply #1 on: December 05, 2014, 02:38:09 pm »
If you are indeed talking about Pension and not about Severance, then you can collect that only when you leave for good from Korea.

To collect your pension you must go to an office and show proof of intent to leave Korea (flight ticket that doesn't not include return to Korea on it) and your ARC. You'll be asked if you intend to return, and if you answer yes, then you'll be told you're not able to collect at this time.

IF you are talking about your severance pay (13th cheque) then you collect that from your current school before moving on to another contract somewhere else.
"It's better to have tried and failed, than never to have tried at all!"
Teach this to your students... they'll thank you for it later!

  • simw90
  • Adventurer

    • 47

    • January 05, 2014, 01:25:39 pm
Re: Collecting Pension
« Reply #2 on: December 05, 2014, 05:43:09 pm »
Apparently NZers cannot collect pension.  Is that true? My friend is a Kiwi and she couldn't claim it.