Another Pension Question

Hey folks.

 

I've been at my current job almost 5 years now, which is on a private pension plan.  However, my first 3 years in Korea were spent at jobs contributing to the public plan.  I was recently told by an old timer that I could go to the pension office and cash out my public money if I showed them a paper from my current school proving that I'm now in a private plan.  I have no plans to leave Korea any time soon.

 

Does anyone know if this can actually work?  I'm American, by the way, so eligible to get the money back when I leave.  I could really use it now, so want to know if anyone here has had the same experience.  I'd rather not waste an afternoon heading down to the office.

 

Thanks!

Re: ANOTHER PENSION QUESTION

Best to just go to the Pension office and ask. Call or ask for 이진아 (Jin-a Lee) I went there today and she was very helpful and speaks good English.

(051) 610-6339 Office
E-mail: [email protected]
She gave me her card and it has her cell on it. But I don't think it would be appropriate to post her cell on a public forum.

As far as I know, you have to leave the country...or at least show that you're leaving. You must present some kind of ticket leaving the country and that your visa will expire.

Alternatively, you could go there between resigning your contract and buy the cheapest ticket to japan. You can have them deposit the money into your Korean account as well. It takes longer if you have them send it internationally.

You can also go to:
www.NPS.or.kr (they have english as well)
or just go to the office in Kyungsung. 9F of the building with the Angelinus exit 2.

 

Re: ANOTHER PENSION QUESTION

Just got a call from the Pension office...cannot collect my Pension because my departure ticket is a round trip ticket...you must leave the country for about a month. you cannot receive the money while in the country. Even if you transfer to a tourist visa.