Are you finished with teaching in Korea and planning to collect your pension money?
If so, this article will be useful for you.
Since I have experience with teaching at a university in South Korea and have gone through the confusing and frustrating process of applying for and receiving Korean pension money, I’d like to share this helpful info with you.
First of all, did you know that there are two different pension organizations in Korea. Your pension will come from one of these two pension organizations depending on what kind of school you worked in:
National Pension Service or Korean Teachers Pension Fund
You might think that this process should be very streamlined and straight-forward since thousands of native English teachers work in Korea and have been retiring from teaching jobs for decades. However, the truth is that…
Many teachers leave Korea without knowing about or receiving their pension.
Teachers are promised a pension in their contract and then the company never pays into their pension.
Teachers do not know how to correctly apply for their pension to receive the full amount.
And there are other terrible issues…
For example, did you know that the English pension applications are filled with errors and incorrect translations, which often times have teachers checking the wrong box. This results in a reduced pension amount and sometimes negative marks on their work history records. I provide the info you need to avoid these mistakes.
After teaching in Korea for over 10 years, I’ve gathered information about the retirement and pension system of Korea. I’ve boiled it down to the most important points.
I’ve made step-by-step instructions. Additionally, I’ve found out a mostly unknown ways that foreign teachers and expats like you and I can receive more money back plus additional ways to claim other refunds.
This package of easy-to-read English information (with Korean translations) takes the guess work out of the process and I’m sure that it’s going to save you a good bit of hassle, a lot of time, and end up making you even more money than you’d expect.
The contained information answers the following questions:
What’s the English phone number for the National Pension Service?
What’s the English phone number for the Korean Teachers’ Fund?
What documents are needed to receive my Korean pension?
Can I receive a pension for working at a Hagwon?
How do I receive my Korean pension money?
Can my pension be sent to my US bank?
Can my pension be sent overseas?
Is overseas remittance possible?
What’s a cheap way to transfer my pension money overseas?
How long does it take to receive a Korean pension?
Can I receive a severance pay from my Hagwon?
Should I choose retirement lump sum or retirement annuity lump sum?
Where do I go to apply for my Korean pension?
How much Korean pension will I receive?
Where is the Korean pension office?
When can I get my Korean pension?
How do I fill out the retirement reason section?
What are retirement allowances?
Should I check dismissal at one’s own request?
Should I check dismissal?
How to fill out form 201?
What are the other ways that I can receive money back or refunds besides my pension money?
Answer all these questions by getting this information packet now:
“How to CORRECTLY Apply for Your Korean Pension and Receive the Most Money”
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